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Stocks to watch: Keppel Reit, Sembcorp, Mapletree NAC Trust, Straits Trading, AHS
THE following companies saw new developments that may affect trading of their securities on Thursday:
Keppel Reit: The Reit's manager announced on Wednesday that it has obtained an unsecured S$150 million green loan facility from OCBC Bank. It can be used to finance or refinance eligible green projects as well as fund the further growth of Keppel Reit's green building portfolio. It is the Reit's second green loan facility, following a S$505 million green loan facility obtained in June this year. The counter closed at S$1.24 on Wednesday, up 0.8 per cent or one Singapore cent.
Sembcorp Industries: The group's wholly-owned subsidiary Sembcorp Utilities has entered into a non-binding term sheet with its local Indian partner, Gayatri Energy Ventures to acquire the remaining 5.95 per cent stake in Sembcorp Energy India Limited (SEIL) for 4,060 million rupees (about S$77 million) in cash. Following the completion of the proposed acquisition, Sembcorp will become the sole owner of SEIL. Sembcorp shares closed at S$2.15 on Wednesday, down 0.9 per cent or two Singapore cents.
Mapletree North Asia Commercial Trust (MNACT): The Reit's manager on Wednesday said it is acquiring an effective interest of 98.47 per cent in two freehold office properties in Greater Tokyo, Japan for S$482.5 million (37.9 billion yen) from Mapletree Investments. The total acquisition cost comprises of the aggregate consideration of about S$477.7 million and the estimated professional and other fees and expenses of some S$4.8 million. MNACT units closed 0.9 per cent or one Singapore cent lower to S$1.16 on Wednesday.
The Straits Trading Company: The investment company announced after trading hours on Wednesday that the trust, an indirect 80 per cent-owned subsidiary of Straits Real Estate, is acquiring a mixed-use office and industrial property located in Mulgrave, Victoria for A$24 million (S$22.3 million). The property is a multi-tenanted mixed-use office and industrial property with a total net lettable area of 12,157 square metres located about 21 kilometres south-east of the Melbourne central business district. The counter closed flat at S$2.10 on Wednesday.
Asian Healthcare Specialists (AHS): The medical services group intends to acquire a 51 per cent interest in Cornerstone Asia Health for S$32 million from a group of vendor doctors, who will hold the remaining 49 per cent. Cornerstone Asia Health provides healthcare services across different specialisations, offering key services in ophthalmology, urology, dermatology and gastroenterology as well as family medicine. The group operates eight specialist and family medicine clinics. The counter last closed at S$0.23 on Nov 26.
Thakral Corporation: The mainboard-listed group has set up a joint venture to invest in properties in Japan. It said on Wednesday night that it has incorporated new subsidiaries Thakral Umeda Properties and Nihon Property Investments (NPI) in preparation for further investments in Japan together with other investors. Thakral shares closed at 48 Singapore cents on Wednesday, up 5.5 per cent, or 2.5 Singapore cents.
Synagie Corporation: The e-commerce solutions provider announced after trading hours on Wednesday that it has commenced legal proceedings against a third-party service provider for a breach of contract in Singapore's High Court and is claiming a sum of S$751,971.25. In response to the claim, the third-party service provider has filed a counterclaim against Synagie on June 14, 2019 for a breach of the same contract and is claiming a sum of S$1.17 million. Synagie shares closed 3.5 per cent or 0.4 Singapore cent lower to S$0.109 on Wednesday.
Design Studio Group: The interior fit-out and panelling products provider is taking an unsecured loan of up to 20 million dirham (S$7.4 million) from controlling shareholder Depa United Group. In connection with the loan, Design Studio is required to approve a business plan and restructuring strategy. This includes the appointment of a chief restructuring officer and the transfer of the group’s executive leadership to a Depa nominee or a candidate sourced by the Dubai-listed group. Design Studio shares closed 7.1 per cent or 0.5 Singapore cent higher to 7.5 cents on Wednesday.