SINGAPORE - The following companies saw new developments that could affect trading of their shares on Wednesday (Nov 7):
CapitaLand: CapitaLand on Wednesday said it has held four successful residential launches in the past month which coincided with "Golden September Silver October" - China's traditional high season for new home sales. In total, these four launches sold 1,506 units with a total value of about two billion yuan (S$396.7 million) - marking CapitaLand's highest home sales value in China over a 30-day period this year.
M Development: Investment holding firm M Development on Wednesday said it has been successful in its claim against defendants in the litigation commenced by its subsidiary, Winsta Holding, in the Singapore High Court. In a judgment by the High Court dated Nov 5, 2018, it was ordered that former director of M Development Sim Pei Yee, along with her family members Sim Poh Ping and Sim Pei San, are liable for breaches of their fiduciary duties arising from their involvement and/or interests in entities such as Overseas Students Placement Centre, ATAS Residence, Uni-house, Unihouse @ Evans, Jiu Mao Jiu Hotpot, ICS Catering and I-Masters Air-Conditional.
Yoma Strategic: Yoma Strategic Holdings and Auntie Anne's parent company Focus Brands on Wednesday announced the signing of a franchise agreement to bring Auntie Anne's, the world's largest soft pretzel franchise, to Myanmar. Myanmar's first Auntie Anne's outlet isscheduled to open in Yangon in the coming months, with more ambitious expansion planned over the next five years.
Centurion Corp: Mainboard-listed Centurion Corporation on Wednesday morning said it has completed the acquisition of South Korea's Benikea Hotel for $16.6 million, which will be refurbished for use as student accommodation. The acquisition was made through a joint venture, whereby Centurion Overseas Investments - a wholly owned subsidiary of the company - will own a direct 55 per cent interest in the property. Through the nomination by South Korea's KTM Distributions, Comanche Co will hold another 5 per cent, while the last 40 per cent will be held by Centurion Properties, which is in turn held by the controlling shareholders of Centurion Corporation, David Loh and Han Seng Juan.
Singapore Medical Group (SMC): SMC's earnings surged in the third quarter, tracking a rise in revenue and helped by the group's share of results where joint ventures and associates had earlier contributed losses. Net profit grew 59.8 per cent to $3.16 million for the three months to Sept 30, according to results released on Monday, while turnover was up 18.9 per cent year-on-year to $22.1 million.
BHG Retail Real Estate Investment Trust: BHG Retail Reit is buying a mall in China that was indirectly owned by the parent of the Reit manager, in a deal inked on Monday and announced the next day. The Reit will pay 328.3 million yuan (S$65.2 million) for Hefei Changjiangxilu Mall, to be funded through borrowings, with the manager noting that the proposed acquisition is expected to raise distribution per unit (DPU) for the enlarged portfolio.