Corporate digest

ST Engineering

SINGAPORE Technologies Engineering (ST Engineering) will invest US$35 million in a new aircraft maintenance, repair and overhaul (MRO) complex in Pensacola, Florida, in a deal announced on Monday.

The US$210 million project at Pensacola International Airport is near another ST Engineering MRO facility that opened in June, and will be incorporated into an aerospace campus.It is not expected to have any material impact on the group's consolidated net tangible assets and earnings per share for the financial year.

LTC Corp

SHAREHOLDERS will vote on the proposed delisting of LTC Corp in an extraordinary general meeting on Nov 14.

Controlling shareholders from the managing director's family proposed a voluntary delisting on Sept 7. The final exit offer price of S$0.925 a share is the same as in their earlier takeover bid for the steel and property group.

According to a circular by independent financial adviser Xandar Capital, the exit offer is deemed fair and reasonable and is not prejudicial to the interests of the company and its independent shareholders. As such, independent directors recommended that shareholders accept the exit offer or sell their shares in the open market if they can obtain a higher price.

Sunpower Group

MAINBOARD-LISTED Sunpower Group has secured a contract worth more than 100 million yuan (S$19.9 million) with Fujian Billion Petrochemicals, it said on Monday. The manufacturing and services deal to provide equipment to Fujian Billion Petrochemicals is expected to have a positive impact on the group's performance from FY2018 to FY2020.

Raffles Medical Group

RAFFLES Medical Group reported a profit of S$16.41 million for its third fiscal quarter, inching up 0.1 per cent from the previous corresponding quarter. Revenue also crept up 1.2 per cent to S$121.04 million from S$119.6 million. Its healthcare services division recorded a rise in revenue of 8 per cent, while the revenue from hospital services division fell 3.8 per cent.

Micro-Mechanics

MICRO-MECHANICS (Holdings) on Monday reported a first-quarter net profit of S$4.5 million for the three months to Sept 30, down by 12.9 per cent year-on-year, amid higher costs. Revenue fell by 4.6 per cent to S$16.9 million on lower sales from Singapore and Malaysia.

PhillipCapital

PHILLIPCAPITAL'S third Singapore-listed exchange-traded fund (ETF) closed at S$1.00 after its first day of trading on Monday. Units in the Phillip SING Income ETF, which tracks the Morningstar Singapore Yield Focus Index, had been offered at S$1.00 each.

Keppel Reit

KEPPEL Reit announced after trading hours on Monday that Paul Tham Wei Hsing has been appointed CEO of Keppel Reit's manager. He will officially start on Jan 1, 2019. In his new role, he will be responsible for working with the board to determine the strategy for Keppel Reit. He is currently the deputy CEO of Keppel Reit's manager as well as the chief financial officer of Keppel Capital International.