Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.
Find out more at btsub.sg/promo
THE following Singapore companies on Friday issued announcements that may affect their trading.
Mainboard-listed Yoma Strategic has posted a 28 per cent year-on-year rise in net profit to S$8.16 million for the fourth quarter ended March 31, 2015, on the back of a marginal rise in revenue from S$27.5 million a year ago to S$27.6 million.
During the quarter, the group recognised a fair value gain of S$8.0 million due to the revaluation of its investment properties: Building A5 in Star City and Lakeview G in Pun Hlaing Golf Estate in Myanmar. It also enjoyed a currency translation gain of S$6.1 million.
Mandarin Oriental International, a subsidiary of mainboard-listed Jardine Strategic Holdings, said on Friday that it will acquire the Hotel Ritz, Madrid, for 130 million euros (S$192.9 million) in a 50:50 joint venture with The Olayan Group, a Saudi Arabian multinational group.
The 167-room hotel, which first opened in 1910, will undergo a comprehensive renovation in 2017. This is currently estimated to cost some 90 million euros, said Mandarin Oriental in a statement.
The renovation will encompass all rooms and public areas, and include the addition of a spa and a variety of new restaurants and bars, all designed to enhance the hotel's position.
AIMS AMP Capital Industrial REIT (AA Reit) said it will invest some S$41.7 million to redevelop its two three-storey detached industrial buildings on 30 and 32 Tuas West Road into a five-storey ramp-up warehouse facility.
Upon completion, the asset is expected to be valued at S$60.7 million, over four times its current value of S$14.1 million.
Following its completion, mainboard-listed logistics group CWT Limited will have staggered master leases on the warehouse with lease terms varying between 32 months to four years and two months for the different floors and with an annual rent escalation.
Design and construction of the ramp-up warehouse will be performed by Indeco Engineers, a wholly owned subsidiary of CWT Limited.