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Stocks to watch: Keppel Corp, Keppel T&T, SPH, Vibrant Group, United Engineers
THE following companies saw new developments which may affect trading of their shares on Monday:
Keppel Corp, Keppel T&T: Mainboard-listed Keppel Corporation said early Monday that it has entered into signed conditional agreements to jointly develop and operate a high-availability data centre in Bogor near Jakarta with Indonesian conglomerate The Salim Group. The agreement was signed by Keppel and The Salim Group through the Alpha Data Centre Fund (Alpha DC Fund), managed by Alpha Investment Partners Limited (Alpha), and Keppel Data Centres Holding Pte Ltd.
Singapore Press Holdings: It has acquired a portfolio of 14 purpose-built student accommodation buildings across six towns and cities in the United Kingdom for a cash consideration of about £180.5 million (S$321 million), it announced on Monday morning before the market opened. The buildings, acquired in a sale and purchase agreement with Unite Group plc, have a total capacity of 3,436 beds. They include 10 freehold assets and four leasehold assets, and are located in established university towns and cities with large full-time student populations, namely London, Birmingham, Bristol, Huddersfield, Plymouth and Sheffield.
Vibrant Group: Eight subsidiaries of logistics firm Vibrant Group are facing a law suit with respect to a claim that they failed to comply with certain payment and guarantee obligations, among others, under the finance documents relating to a 500 million yuan (S$100.7 million) loan facility for which they had provided security. The suit was filed by China Minsheng Banking Corporation Limited (Chongqing branch) in the Chongqing People’s High Court against 12 parties, including eight of Vibrant Group's subsidiaries held through its fully owned subsidiary Blackgold International Holdings Pty Ltd.
United Engineers: The company said on Saturday said it has been awarded the tender for the land parcel at Dairy Farm Road at the tender price of S$368.8 million by the Urban Redevelopment Authority. The tender was awarded to its wholly owned unit. The company plans to develop the site into a "prime development" comprising about 450 residential units, childcare centre, supermarket, food court and F&B (food and beverage) outlets as well as retail shops.
Procurri, DeClout: Mainboard-listed enterprise hardware supplier Procurri Corp said on Friday that it has received an unsolicited, non-binding indication of interest from a third party to acquire shares of the company by way of a possible voluntary general offer. No definitive agreements have been entered into yet and the possible offer is subject to due diligence, among other things. In a separate statement, Catalist-listed DeClout, which owns a 47 per cent stake in Procurri, said that it is in the process of evaluating indications of interests from various third parties relating to its stake in Procurri.
Wee Hur Holdings: On Friday, through Wee Hur PBSA Master Trust, Wee Hur acquired a freehold office building in Adelaide, Australia for A$9.275 million (S$9.1 million). The Master Trust was established by the company to undertake purpose-built student accommodation (PBSA) in Australia. Wee Hur has a holding of 68.45 per cent in the Master Trust. Located at 124 Waymouth Street in the Adelaide Core precinct of the central business district, the property is a freehold, three-storey office building with a site area of about 1,836 square metres. The group intends to redevelop the property into student accommodation with about 721 beds.