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Stocks to watch: CapitaLand, CDL, CMT, Keppel, Indofood Agri Resources, Vibrant Group
THE following companies saw new developments that may affect trading of their shares on Monday:
CapitaLand, City Developments: CapitaLand and City Developments Ltd (CDL) completed their S$400 million acquisition of Liang Court mall on Friday. The two property groups confirmed the completion of the purchase by their equal joint venture, in a statement to BT. This confirms an earlier BT story in March that a put-and-call option agreement had been entered into between the mall's owner at the time. CapitaLand shares closed at S$3.22, down three Singapore cents or 0.92 per cent on Friday, while CDL shares closed at S$8.22, down five Singapore cents, or 0.6 per cent, on Friday.
CapitaLand Mall Trust (CMT): Funan has achieved 92 per cent in commitment for retail leasing to date as well as 98 per cent in pre-leasing commitment for its twin office blocks, according to a joint media statement by CMT’s manager and CapitaLand on Monday morning. The mall will welcome shoppers again on June 28, two months ahead of its original schedule after a three-year redevelopment. CMT’s manager expects more retail leases to be signed in the coming months, said Tony Tan, chief executive officer of CapitaLand Mall Trust Management. Units closed at S$2.410 on Friday, down three Singapore cents or 1.23 per cent.
Keppel Corporation: The group said on Monday that its data centre unit Keppel Data Centres Holding has invested around 14 million euros (S$21.5 million) in Luxembourg-based Etix Group in its Series C funding, and will hold a minority stake in the company post investment. Etix is a Luxembourg-based data centre developer and provider of data centre co-location services which leverages prefabricated data centre modules for quick data centre deployment. Keppel Corp shares closed at S$6.03 on Friday, down three Singapore cents or 0.5 per cent.
Indofood Agri Resources: Indonesian instant noodle heavyweight Indofood Sukses Makmur has raised its buyout offer price for mainboard-listed Indofood Agri Resources (IndoAgri) to 32.75 Singapore cents per share, from 27.75 cents previously, according to a bourse filing by IndoAgri on June 2. On May 31, CIMB also announced the offer price revision for the palm oil firm in a Singapore Exchange filing on behalf of the offeror. Indofood does not intend to revise the final offer price. Indofood Agri shares closed flat at S$0.275 on Friday.
Vibrant Group: In response to SGX-ST's queries, Vibrant said on Friday that the aggregate consideration for the transactions surrounding its sale of units in Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) and its stake in Sabana Investment Partners (SIP) - which owns the Reit's manager, was arrived at on a willing-buyer, willing-seller basis after arm's length negotiations. The counter closed flat at S$0.13 on Friday.
NGSC: The mainboard-listed satellite service provider said on Friday night that it has cancelled an extraordinary general meeting (EGM) for the proposed removal of four directors, as the directors in question have resigned. The EGM was originally scheduled for June 6, to remove former chief executive officer Vicente S Ku - who was fired in March and became a non-executive, non-independent director - as well as chairman Andrew Coulton, non-executive non-independent director Raymond Lai Chik Fan, and independent director Raymond Li Man Wai. The counter closed flat at 0.2 Singapore cents on Friday.
GKE Corporation: The logistics solutions company expects to gain a "stable and sustainable" income stream from limestone mining via a new joint venture, extending its infrastructural materials operations upstream, the Catalist-listed company said on Friday after market close. Its wholly owned unit, Wuzhou Xing Jian Readymix Co, has obtained mining rights in Cangwu county in China, for the mining and production of up to 500,000 tonnes of limestone each year for 9.5 years, at a consideration of 5.05 million yuan (S$1.01 million). GKE Corp shares closed unchanged at 6.8 Singapore cents on Friday before the news.
Capital World: The Catalist-listed company has once more extended the repayment date for certain bonds to June 30, 2019, it announced on Friday night. This follows its May 2 announced that it had agreed with convertible bondholder Chong Thim Peng to extend the repayment date of Series A Tranche 2 bonds of S$3 million to May 31, 2019, from the original May 1 date, inclusive of interest. Shares of the company closed at 2.7 Singapore cents on Friday, up 0.1 cent or 3.85 per cent.