SINGAPORE - The following companies saw new developments which may affect trading of their shares on Thursday (Sept 20):
Mapletree Logistics Trust: Mapletree Logistics Trust (MLT) has completed its private placement that was launched on Wednesday and will issue about 309.9 million new units at an issue price of $1.21 per new unit, the trust said in a Singapore Exchange (SGX) filing on Thursday. MLT will apply to the SGX for the new units to be listed, and will make an announcement when the in-principle approval is granted. Trading in the new units is expected to commence on or around Sept 28.
Keppel Corp: Keppel Corp's China real estate unit is buying a 40 per cent stake in the development of a prime residential site in Nanjing, China, for about 1.41 billion yuan (S$283 million). Keppel Land China is buying the stake from a subsidiary of Shanghai-listed Gemdale (Group) Co, which will retain the remaining 40 per cent of the joint venture. The total development cost of the 8.8 hectare site is expected to be more than 5.2 billion yuan.
Ascott Residence Trust: Ascott Residence Trust (Ascott Reit) has acquired a prime greenfield site at Nepal Hill in Singapore's research and innovation business hub one-north for $62.4 million, the company announced on Thursday morning. It plans to develop the 60-year leasehold site into a co-living property managed by the Reit's (real estate investment trust) sponsor, The Ascott Limited, under its co-living brand lyf.
Far East Group: Far East Group's wholly owned subsidiary, Far East Refrigeration, has entered into a sale and purchase agreement to sell a property in Kowloon, Hong Kong to China Glory Creation for HK$5.36 million ($937,082). The property consists of an office and a store room with an estimated gross floor area of 876 square feet. Currently vacant, it has a tenure of 75 years, and is renewable for another 75 years.
Asiatravel.com Holdings: The High Court has granted Asiatravel.com Holdings and its subsidiary a moratorium until Nov 30 this year, the company said in a filing with the Singapore Exchange on Wednesday. As per the Court's orders, the moratorium will restrain a number of actions until that time, including the passing of a resolution for the winding-up of the companies.
mm2 Asia: mm2 Asia has appointed Haitong International Securities (Singapore) as its financial adviser to complete a strategic review of the group's businesses. In a filing with the Singapore Exchange on Wednesday, mm2 Asia said: "The group, through the strategic review, aims to further enhance its corporate profile, branding and market awareness in the North Asia markets where it currently operates; and to explore the possibility of seeking a foreign listing of some of the group's key assets and/or businesses, which may include the cinema operations, to further enhance shareholder value." It warned shareholders and potential investors that there is no certainty that any corporate action will take place.
Sembcorp Marine: Yard group Sembcorp Marine is investing in a fleet of liquefied natural gas (LNG)-hybrid powered tugs, which would allow its operations to comply with emission targets being rolled out by International Maritime Organization (IMO), the industry's overarching regulatory body. The yard group plans to design and build up to 12 such tugs to replace the existing diesel-powered ones in the years through to 2025.