China Merchants Holdings (Pacific): The toll road operator on Tuesday said that it will appoint an independent financial adviser (IFA) to advise the independent company directors on a cash offer and a convertible bonds offer.
A circular containing the advice of the IFA and the recommendations of the independent directors will be sent to shareholders and bondholders within 14 days from the date of despatch of the offer document.
This follows Monday's announcement of a cash offer by Easton Overseas Ltd for all the shares in China Merchants that it does not already own at S$1.02 a share, and a similar offer made for the firm's HK$150 million (S$26 million) of convertible bonds.
China Merchants also requested to lift its trading halt on Tuesday morning.
Frasers Centrepoint Limited: FCL on Tuesday posted a 11.1 per cent increase in attributable profit to S$110.3 million for its second quarter ended March 31, 2016.
Revenue more than doubled to S$897.9 million.
Earnings per share fell to 2.7 Singapore cents, from 3.06 cents a year ago.
The developer said that the surge in revenue was mostly driven by maiden profit recognition from the completion of the Twin Fountains residential project and progressive development profits from North Park Residences in Singapore.
In the United Kingdom, profits from the completion and settlement of Riverside Quarter Blk 5C, and a new stream of income from the newly acquired Malmaison Hotel du Vin Group also added to the increase.
The group has declared an interim dividend of 2.4 Singapore cents per share, payable on June 9, 2016.
Asian Pay Television Trust: The trust on Tuesday reported a 5.4 per cent drop in operating earnings (Ebitda) to S$46 million for its first quarter ended March 31, 2016. Total revenue also fell 5.4 per cent to S$77.8 million.
The trust said that revenue fell due to the continued weakness in the Taiwanese economy, marginally lower basic cable TV rates in one of its units Taiwan Broadband Communications group's five franchise areas, and the non-recurrence of revenue generated in 2015.
The board has declared an ordinary distribution of 1.625 cents per unit for the quarter.