Corporate digest

Singtel

THE Singtel group has launched its sustainability-linked bond framework, which it said is a first for a telco in the Asia-Pacific region.

The framework outlines individual key performance indicators and sustainability performance targets for two issuers: Singtel and its Australian subsidiary Optus.

The group may issue bonds linked to the achievement of greenhouse gas reduction targets that were approved by the Science-Based Targets initiative. Specifically, the group aims to cut absolute Scope 1 and 2 direct and indirect emissions across its operations in Singapore and Australia by 42 per cent by 2030, from a 2015 baseline.

If the targets are not achieved, there will be a penalty in the form of an adjustment to the coupon rate or premium on maturity of the sustainability-linked bonds, Singtel said on Thursday (Oct 14).

Dragon Group International

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MAINBOARD-LISTED Dragon Group International and its subsidiary FE Global Shanghai commenced retrenchment exercises on Sep 6 and Sep 30 respectively, "to ensure the group's survival during this difficult period".

Some of the retrenched individuals were key appointment holders, including Dragon Group's president and acting chief executive officer Timothy Lim.

His last day of service in the two roles is Mar 31, 2022, but the 56-year-old will remain as a director of the company.

Dragon Group noted that ongoing US-China geopolitical tension and the global Covid-19 pandemic have negatively affected the group.

Yanlord Land Group

DBS has provided a secured term loan facility of S$340 million to Yanlord Investment (Singapore), an indirect wholly-owned subsidiary of mainboard-listed Yanlord Land Group, according to a bourse filing on Thursday (Oct 14) night.

The three-year loan, with Yanlord Land as the guarantor, will partially refinance an existing short-term indebtedness of the subsidiary.

Azeus Systems Holdings

THE Singapore Exchange on Thursday (Oct 14) afternoon sent Azeus Systems Holdings a query regarding the mainboard-listed firm’s trading activity.

The bourse operator flagged “unusual price movements” in the counter, and asked Azeus Systems for a possible explanation for it.

Shares of the company jumped 20.5 per cent or S$1.60 day on day to finish at S$9.40. About 45,900 shares changed hands during the day.