Keppel Corporation

KEPPEL Corp on Thursday said it is proposing to divest a data centre facility located in Frankfurt, Germany for a cash consideration of 76 million euros (S$121.8 million).

The property, Keppel DC Frankfurt 1, will be divested to a wholly-owned subsidiary of Iron Mountain. It was previously held under Calcium DC, a 60-40 joint venture between Alpha DC Fund and Keppel Data Centres Holding.

Keppel expects the divestment will be completed in the third quarter of 2021. It added that it does not expect the divestment to have any material impact on the net tangible assets per share or earnings per share of the company for the current financial year.

Tan Chong International

THE company expects its bottom line to be HK$60 million (S$10.5 million) for the half-year ended June, swinging from a HK$46 million loss for the corresponding period a year ago.

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In its guidance statement filed to the Stock Exchange of Hong Kong where it is listed, the company also flagged a possible unaudited unrealised loss on its investments designated as at fair value through other comprehensive income.

It issued such guidance after a preliminary review of its interim financial results that are not complete, the company said in the statement on Thursday.

The company had disposed of a surplus property in Singapore, and the gains had improved its bottom line "substantially".

In contrast, the company said its listed investments would be expected to chalk up HK$1.4 million in marked-to-market unrealised loss due to share price changes. But its unrealised loss was HK$398 million for the corresponding six months period in 2020.

The company will report this loss in the group's other comprehensive income statement, and it is not expected to be reclassified to its consolidated statement of profit or loss when it publishes its financial results by end of August.

Creative Technology

THE company's subsidiary C L Realty has entered into an agreement to sell a two-storey office building used by its units in the US for US$11.13 million.

The price, having considered the prices of properties in the surrounding area in McCarthy Boulevard, Milpitas, California, was arrived at on a "willing-buyer, willing-seller" basis.

The company said it is in the best interests of the group as it will unlock the value of the asset of 57,536 square feet (sq ft) on 152,460 sq ft of land.

The sale will net proceeds of about US$9.7 million, after estimated expenses and taxes relating to the proposed transaction. The company said it might use the proceeds as general working capital.

The sale will contribute US$9.1 million to the group's net profit, after accounting for the net book value of the property of US$600,000 and estimated expenses and taxes relating to the proposed transaction.