Corporate digest

Keppel Corporation

KEPPEL Corporation has self-issued its first three-month commercial paper on fixed income execution (FIX) platform DBS FIX Marketplace, representing the first tranche of its US$1 billion digital Euro-commercial paper programme. This is the first issuance on DBS' fully digital and automated FIX platform where issuers can directly connect with investors.

The bank said the platform can be further built upon to expand digital bond offerings through the members-only DBS Digital Exchange.

The Straits Trading Company

STRONGER contributions from real estate and resources helped Straits Trading post a net profit of S$122.6 million for the first half of this year, roughly 22 times its year-ago profit of S$5.5 million. Property revenue grew 18.3 per cent to S$23.5 million during the six months ended June, while tin mining and smelting revenue climbed 69.8 per cent to S$195.6 million.

However, the hospitality segment continued to be affected by the Covid-19 crisis, reporting a widened loss compared with the year-ago period.

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Biolidics

MEDTECH company Biolidics posted a S$3 million loss for the six months ended June 2021 - widening from the S$0.1 million loss in the year-ago period - amid a "highly competitive market" with a growing supply of antigen and antibody test kits.

Sales of Covid-19 related products brought in S$0.4 million in H1 FY2021, compared to S$6.4 million in the year-ago period.

On its upcoming plans, Biolidics said it wants to provide testing applications at different infection stages of Covid-19. It also plans to broaden its market presence in Asia on the cancer diagnostics front.

Mapletree Logistics Trust

THE manager of Mapletree Logistics Trust has proposed to acquire a fully-leased, freehold cold-storage facility in Australia for A$42.8 million (S$42.8 million).

At this purchase price, the acquisition is expected to generate an initial net property income yield of 4.3 per cent, and will be accretive at the distribution level.