Company Briefs : Regal International

Regal International

Regal International has obtained a two-month extension until July 31 from the Singapore Exchange to announce its financial year 2018 sustainability report.

The property developer had similarly got a two-month extension on May 14 to release its first-quarter 2019 results by July 15 due to the delayed completion of its audited financial statements for FY2018.

The delay in releasing its Q1 results was due to specific financial reporting issues in finalising its FY2018 audited results, which the group said will impact the opening figures of its FY2019 financial results.

It encountered differing views on various course of recognition arising from new accounting standards, while property valuations and impairment assessments were also issues that demanded additional time to finalise, the group said.

Starhill Global Reit

Starhill Global Reit is keeping the base rent unchanged for the Toshin master lease at Ngee Ann City for the next three years, starting from last Saturday, under its latest rent review, the real estate investment trust (Reit) manager announced on Saturday in a bourse filing.

Toshin is the master tenant occupying all retail areas except level five of Ngee Ann City for a 12-year period from June 8, 2013, under a master lease by HSBC Institutional Trust Services as trustee of the Reit to Toshin.

Starhill Global Reit's stake in Ngee Ann City comprises four strata lots representing 27.23 per cent of the total share value of strata lots in the Orchard Road property. The Toshin lease contributed to about a fifth of Starhill Global Reit's portfolio gross rent as at March 31.

First Ship Lease

First Ship Lease (FSL) Trust requested to lift its trading halt yesterday after its sponsor's mandatory general offer for all its units.

FSL Holdings made the offer after taking up new units in FSL Trust via a recent preferential offering. It offered $0.0585 in cash for each FSL Trust unit, which represents a 33 per cent premium to the last transacted price of $0.044 last Thursday, before FSL Trust called for a trading halt.

The offeror does not intend to delist the owner of container ships and tankers from the mainboard, but reserves the right to assess its options if FSL Trust's free float falls below the minimum requirement.

A version of this article appeared in the print edition of The Straits Times on June 11, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe