Latest Posts By Joelton
- Supreme
About Joelton
|
|
| 14-Apr-2020 10:05 |
Yongnam
/
Yongnam Holdings
 Go to Message
|
 x 0
 x 0
|
Yongnam files notice of 3 straight years of losses to hold AGM on June 29MON, APR 13, 2020 - 8:12 AM | UPDATED MON, APR 13, 2020 - 4:46 PM
STEELMAKER Yongnam Holdings on Monday gave notice that it recorded pre-tax losses for the three most recently completed consecutive financial years. This is based on its audited full-year consolidated accounts, said the mainboard-listed firm before the market opened. As at April 9, 2020, its six-month daily average market cap stands at about S$73.2 million. Under the Singapore Exchange' s listing rules, mainboard-listed companies will be placed on the watch list under the financial-entry criteria if they record pre-tax losses for the three most recently completed consecutive financial years and also fail to maintain an average daily market cap of at least S$40 million over the last six months. Yongnam posted a net loss of S$53.1 million for the year ended Dec 31, 2019, widening from a net loss of S$51 million a year earlier. The higher loss came amid an impairment charge on a trade receivable, operational restructuring costs and loss on disposal of strutting assets. In a separate filing on Monday, the company said it will convene its annual general meeting at 10am on June 29. This comes after the Accounting and Corporate Regulatory Authority (ACRA) and the Singapore Exchange Regulation (SGX RegCo) on April 7 announced that it will give firms a 60-day time extension to hold AGMs and file their annual returns. Asked if the company will be implementing safe-distancing rules, or whether there might be a virtual component to its AGM, Yongnam told The Business Times on Monday: " Ensuring the safety of our AGM attendees and shareholders amid the ongoing Covid-19 outbreak is important to us. As such, Yongnam will fully comply with the latest safety guidelines outlined by SGX RegCo and other relevant regulatory authorities." The company added that it will revise its protocols in accordance with the latest guidelines, as soon as they are announced. " We are still exploring our options and will update shareholders as soon as the details are finalised," it said. As at 4.33pm on Monday, the counter was trading flat at 8.8 Singapore cents. https://www.businesstimes.com.sg/companies-markets/yongnam-files-notice-of-3-straight-years-of-losses-to-hold-agm-on-june-29 |
| Good Post Bad Post | |
| 13-Apr-2020 13:16 |
BH Global
/
Need help explaining accounts
Go to Message
|
|
x 0
x 0
|
https://www.businesstimes.com.sg/government-economy/esg-stb-tell-30-businesses-to-stop-operationsBH Global' s diversification efforts paying off
They helped the company to report a net profit of S$1.7 million for FY2019, its first profit since FY2013. AS the shipping industry adopts new measures to clean up its environmentally harmful practices, local offshore and marine group BH Global Corporation is reaping the fruits of its efforts to diversify into new areas including sustainability. For FY2019 ended December, the company reported a 22 per cent increase in revenue to S$49.4 million. The higher revenue, in combination with tightly controlled costs and fewer provisions and impairments, allowed it to report a net profit of S$1.7 million. This is BH Global' s first profit since FY2013. The 57-year-old company has operated as an electrical and technical equipment supplier to the offshore and marine industry for most of its history, but was spurred to broaden its scope following severe downturns such as the 2008 shipbuilding crisis and 2015 oil crisis. Its other businesses now include environmentally friendly LED lighting, infrared thermal sensing technology, cybersecurity, retrofitting vessels with glass-reinforced epoxy (GRE) pipes and designing a plug-in hybrid electric propulsion system for fast-launch vessels. " Marine is a very polluted and very old industry. It doesn' t adopt a lot of new, green initiatives, so it has been under a lot of pressure (to do better)," said Vincent Lim, chief executive of the Singapore Exchange (SGX) mainboard-listed group. With the International Maritime Organisation' s new requirement in 2018 for all vessels to use fuel with a sulphur content of no more than 0.5 per cent by 2020, the industry is moving in the right direction at last. BH Global is ready to do its part. " We have set our direction towards electrification, environmental and digitalisation, because we are looking at something very long-haul and sustainable," Mr Lim said. The GRE pipes that BH Global supplies and retrofits have been in high demand as shipowners comply with the new requirements. One approved method for compliance involves modifying engine systems to reduce emissions to a level that is similar to using fuel with a lower sulphur content. This can be accomplished by installing exhaust gas cleaning " scrubber" systems, which require corrosion-resistant GRE pipes rather than traditional carbon steel ones. " You might think that Singapore is a very small market, but we have more than 2,000 small vessels in Singapore waters. Every day, we are producing 6,000 tonnes of greenhouse gases," Mr Lim said. Singapore also receives ships from all over the world, and BH Global has been servicing many vessels turned away from Chinese ports in recent months. Going electric BH Global' s next big project is the hybrid electric propulsion system, which Mr Lim says will be the first of its kind in Singapore. He envisions a day when Singapore' s ferry terminals will not smell of exhaust fumes, as the hybrid system would allow for ships to run on batteries when the vessels are idling at port terminals. In February, BH Global signed a memorandum of understanding with four industry players to jointly develop the plug-in hybrid electric propulsion fast launch vessel. One of those partners is Penguin Shipyard International, an aluminium boat builder that is listed on the SGX' s mainboard. BH Global also set up a test lab to develop, test and certify the hybrid propulsion system. Said chief operating officer Patrick Lim, who is also Mr Lim' s younger brother: " We are working closely with certification agency Bureau Veritas Marine (Singapore) to jointly review, develop and endorse the test facilities and procedures, and eventually certify the system when it is completed, with factory acceptance test at our test lab and sea trials with Penguin Shipyard." The vessel equipped with the hybrid system is targeted to launch soon, with a sea trial anticipated for June 2020. New ventures, customers BH Global' s diversification has drawn new customers. Solutions from its green LED lighting division are not just used by companies seeking to be compliant with stringent marine and offshore standards, but have also been used by lighting industry leaders Philips and Osram in projects such as the Canton Tower in Guangzhou and the Shanghai Tower. To continue growing the business, BH Global is developing smart control and monitoring systems to serve factories looking to reduce their energy usage. BH Global' s diversification has extended into the fields of cybersecurity and infrared thermal sensing technology, through its majority-owned subsidiaries Athena Dynamics and Omnisense Systems. Athena counts government agencies among the clients using its solutions for critical infrastructure protection and business systems security. Omnisense is known for its fever screening systems, which have been in high demand during the current novel coronavirus pandemic. It has also developed night vision surveillance systems used by private yacht owners, commercial ship owners and law enforcement. It set up an office in Florida earlier this year, which will enable it to serve the US market directly. One of the group' s biggest challenges is maintaining a healthy cash flow, since it works with most of its customers on credit terms. For FY2019, BH Global reported positive cash flow of S$939,000 from operating activities - a reversal from a negative cash flow of S$1.1 million in FY2018. The company did not record any net provisions for FY2019. It did, however, record a sharp jump in receivables - to S$4.3 million from S$189,000 - as well as a significant increase in payables - to S$8.8 million from negative S$657,000. The elder Mr Lim said that despite diversifying into more fields, BH Global is still viewed primarily as an offshore and marine player. This poses difficulties when it tries to obtain financing from banks. " They are very stringent on credit control for those in marine and offshore, because I think they were burned (in the past) and suffered huge losses," he said. " It can' t be helped, so we have to use our funding wisely." He added that the group is open to bringing in strategic investors, which would provide additional funding to help the group move faster in its new businesses. Another challenge lies in employing sufficient talent, as local engineers are in short supply. To overcome this, the group has set up research and development (R& D) teams overseas, such as in Taiwan, where manpower is more plentiful and affordable. It maintains smaller R& D teams in Singapore that focus more on testing and calibrating the products. For now, the original electrical and technical supply business still brings in the majority of BH Global' s revenue. In FY2019, supply chain management accounted for 79 per cent of revenue. Security and engineering accounted for 8 per cent and 13 per cent, respectively. Mr Lim hopes to see the other businesses overtake the supply arm in terms of percentage contribution in the next two to three years, even as the supply chain business continues to grow. The group is confident that its overall revenue will continue the upward trend shown over the past three years despite recent events impacting the global economy. Mr Lim noted that the virus outbreak and US-China trade tensions have negatively affected the LED lighting arm, but they have boosted business for the thermal scanner and GRE pipe retrofitting divisions. Possible spin-offs BH Global does not rule out spinning off some of its subsidiaries through public listings or buyouts in future. Mr Lim said the group would like to use some of the funds raised from such a spin-off to invest in local small and mid-sized enterprises (SMEs) that have promising ideas or products but hesitate to apply for government funding for a number of reasons. These might include the red tape that could delay their time to market and concerns over intellectual property security. " I strongly suggest that another channel should be set up to look at these SMEs and their business prospects, to give them some funding first and do the evaluation along the way," he said, adding that the initial amount could be small - perhaps 10 to 20 per cent of the project costs - and increased later on if the company delivers on its promises. " If there is no such channel created by the government, we are willing to take it up, because we want to support local startups and enterprises." Shares of BH Global last traded at eight cents on March 13. The company has a market capitalisation of S$24 million. It is currently on the SGX' s watch-list of companies that have recorded pre-tax losses for three consecutive years, have a market capitalisation of less than S$40 million and have a trading price of less than 20 cents. |
| Good Post Bad Post | |
| 13-Apr-2020 12:14 |
IFS Capital
/
another ISR CAPITAL coming??
Go to Message
|
|
x 0
x 0
|
IFS Capital
Non-executive director, Lim Hua Min, acquired 123,000 shares of the listed company for a consideration of S$22,117.
At an average price of 18 cents per share, this increased his total interest in IFS Capital from 60.23 per cent to 60.27 per cent.
Mr Lim is also the executive chairman of the PhillipCapital Group of Companies.
https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 12:12 |
LHT
/
Share consolidate of 4 into 1 share
Go to Message
|
|
x 0
x 0
|
LHT Holdings On April 6, LHT Holdings chairman, managing director and CEO Yap Mui Kee acquired 50,000 shares of the listed company for a consideration of S$28,800. At an average price of 57.6 cents per share, this took Ms Yap' s total interest in the manufacturer of high quality wooden pallets, boxes and crates from 13.79 per cent to 13.88 per cent. https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 11:49 |
KTMG
/
KTMG
Go to Message
|
|
x 0
x 0
|
KTMG On April 3, KTMG non-executive and lead independent director Goh Yeow Tin acquired 200,000 shares of KTMG for a consideration of S$30,000, at 15 cents per share. This increased his total interest in the listed company from 0.18 per cent to 0.30 per cent. Mr Goh' s preceding acquisition of KTMG shares was also for 200,000 shares at 15 cents per share on Nov 19, 2019. https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 11:06 |
Sinarmas Land
/
Tenasek into sinarmas land...how true insider news
Go to Message
|
|
x 0
x 0
|
Sinarmas Land On April 7, Sinarmas Land lead independent director Hong Pian Tee acquired 185,100 shares of the listed company for a consideration of S$30,728 at an average price of 16.6 cents per share. Mr Hong maintains a 0.05 per cent total interest in Sinarmas Land. https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 11:04 |
JEP
/
JEP - Next Privatisation Target
Go to Message
|
|
x 0
x 0
|
JEP Holdings On April 2, JEP Holdings executive director Zee Hoong Huay acquired 390,000 shares of the Catalist-listed company for a consideration of S$57,290. At an average price of 14.9 cents per share, the acquisition increased Mr Zee' s total interest in JEP Holdings from 15.13 per cent to 15.22 per cent. https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 11:00 |
Bonvests
/
Bonvest
Go to Message
|
|
x 0
x 0
|
Bonvests Holdings
On April 2, Bonvests Holdings chairman and managing director Henry Ngo acquired 166,600 shares for a consideration of S$137,372, at an average price of 82.5 cents per share.
This increased Mr Ngo' s total interest in Bonvests Holdings from 83.33 per cent to 83.37 per cent.
https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 10:58 |
Thomson Medical
/
Rowsley is brewing!
Go to Message
|
|
x 0
x 0
|
Thomson Medical Group
On April 1, Thomson Medical Group substantial shareholder Peter Lim Eng Hock increased his total interest in the large healthcare play above the 80 per cent threshold.
Mr Lim acquired 5.4 million shares for a consideration of S$244,800 at 4.5 cents per share, taking his total interest in Thomson Medical Group from 88.00 per cent to 88.02 per cent.
https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 10:55 |
UOB Kay Hian
/
UOBKH
Go to Message
|
|
x 0
x 0
|
UOB-Kay Hian Holdings UOB-Kay Hian Holdings (UOBKH) chairman and managing director Wee Ee Chao increased his total stake in UOBKH between April 2 and 9, which is now at 29.91 per cent. Mr Wee acquired 230,800 UOBKH shares for a consideration of S$264,076 at S$1.14 per share. https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 10:52 |
DBS
/
DBS
Go to Message
|
|
x 0
x 0
|
DBS Group Holdings On April 6, DBS Group Holdings independent director Olivier Lim acquired 46,000 shares of the listed company for a consideration of S$844,298. At an average price of S$18.35 per share, this increased his direct interest in DBS Group Holdings to 113,281 shares. Mr Lim was previously with CapitaLand from 2003 to 2014, serving as group deputy CFO, group CIO and group CFO during his career there. https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 10:50 |
Delfi
/
Buoyant outlook
Go to Message
|
|
x 0
x 0
|
Delfi On April 2, Springbright Investments Ltd increased its substantial shareholding of Delfi above the 48 per cent threshold, from 47.77 per cent to 48.01 per cent. The married deal comprised 1.45 million shares acquired for a consideration of S$986,000 at 68 cents per share. This also increased the deemed interests of Delfi Group CEO John Chuang Tiong Choon, and president director branded consumer division (Indonesia), Joseph Chuang Tiong Liep. https://www.businesstimes.com.sg/companies-markets/director-filings-at-a-more-measured-pace |
| Good Post Bad Post | |
| 13-Apr-2020 10:43 |
Datapulse Tech
/
What news regarding TRADING HALT?
Go to Message
|
|
x 0
x 0
|
Datapulse: very low occupancy of Seoul hotel to partly hit full-year results SUN, APR 12, 2020 - 4:28 PM DATAPULSE Technology gave an update on Saturday on the operations of its hotel Travelodge Myeongdong City Hall in Seoul. The property was formerly known as Hotel Aropa. " The novel coronavirus (Covid-19) outbreak is continuing to have a significant adverse impact on the hospitality industry in South Korea, with both international and domestic travel restrictions and flight suspensions affecting hotel occupancy levels. The group&rsquo s results for the financial year ending July 31, 2020 will be adversely impacted as a result of, among other things, the very low occupancy of Travelodge Myeongdong City Hall," Datapulse said in its regulatory filing with the Singapore Exchange. The group will continue to implement cost-cutting measures to mitigate the negative effects arising from the Covid-19 situation and will also use this opportunity to focus on the completion of the last phase of the hotel&rsquo s refurbishment plans, it added. The counter last traded on Thursday at 26 Singapore cents, up 6.5 cents from the 19.5 cents closing price on the previous day. Datapulse' s net loss for the first-half ended Jan 31, 2020 widened to S$768,000 from a (restated) net loss of S$205,000 in the year-ago period. \The group is principally engaged in the hotel and hospitality property investment business. It was previously involved in the media storage business and haircare business. https://www.businesstimes.com.sg/companies-markets/datapulse-very-low-occupancy-of-seoul-hotel-to-partly-hit-full-year-results |
| Good Post Bad Post | |
| 13-Apr-2020 10:03 |
Broadway Ind
/
broadway ind
Go to Message
|
|
x 0
x 0
|
Broadway' s independent auditor flags going concern issues
SUN, APR 12, 2020 - 8:40 PM
BROADWAY Industrial Group' s independent auditor has raised doubts about the group' s ability to continue as a going concern. However, RSM Chio Lim' s audit opinion remains unqualified, the mainboard-listed precision manufacturing group said on Sunday in a regulatory filing. The auditor had included an emphasis of matter in its independent auditor' s report on Broadway' s financial statement for the financial year ended Dec 31, 2019. RSM Chio Lim drew attention to a note in Broadway' s financial statements indicating that the group incurred loss from continuing operations, net of tax of S$15.04 million during the reporting year ended Dec 31, 2019, and as of that date, the group' s current liabilities exceeded its current assets by S$26.21 million. These events or conditions, along with other matters in the note, indicate that a " material uncertainty exists that may cast significant doubt on the group&rsquo s ability to continue as a going concern" , said RSM Chio Lim. https://www.businesstimes.com.sg/companies-markets/broadways-independent-auditor-flags-going-concern-issues |
| Good Post Bad Post | |
| 11-Apr-2020 12:01 |
DBS
/
DBS
Go to Message
|
|
x 0
x 0
|
DBS structured products aim to get around uncertaintySAT, APR 11, 2020 - 5:50 AMBank has drawn about US$1.4b from clients since launching these products in 2018, but is pressing pause button for now. A SERIES of structured products by DBS Bank has enabled investors to profit from themes such as consumption and ESG (environment, social, governance), despite the uncertainties in market direction that have prevailed over the past couple of years. Since the launch of the products in 2018... https://www.businesstimes.com.sg/wealth-investing/dbs-structured-products-aim-to-get-around-uncertainty |
| Good Post Bad Post | |
| 11-Apr-2020 11:55 |
China Haida
/
Undervalued gem plus RTO in the discssion..$0.041
Go to Message
|
|
x 0
x 0
|
SGX rejects China Haida' s request for more time to release FY2019 resultsFRI, APR 10, 2020 - 4:32 PMCHINA Haida' s request for more time to release its FY2019 results has been rejected by the Singapore Exchange (SGX) the aluminium panel maker now has up to April 15 to do so. SGX earlier gave the mainboard-listed company an extension of time to announce the results by April 11. However, China Haida later sought another 50 days - the request that was rejected by SGX. Earlier this week, Singapore-headquartered China Haida had found out that that two bank accounts of its wholly owned subsidiary in China have been frozen following an interim court order issued by a Sichuan court. A third bank account has been restricted. China Haida has made enquiries with the China subsidiary' s finance team, and obtained a copy of an interim court order dated last Nov 28, which is " seemingly relevant or connected to" the freezing of the two bank accounts. Shares of the company, which is also on the SGX' s watch-list, are suspended from trading. https://www.businesstimes.com.sg/companies-markets/sgx-rejects-china-haidas-request-for-more-time-to-release-fy2019-results |
| Good Post Bad Post | |
| 11-Apr-2020 11:52 |
GuocoLand
/
GuocoLand
Go to Message
|
|
x 0
x 0
|
GuocoLand unit sells Guoman Hotel in Shanghai for 1.4 billion yuan in cashFRI, APR 10, 2020 - 9:03 PMA China unit of mainboard-listed property developer GuocoLand will sell Guoman Hotel in Shanghai and 256 of its underground carpark spaces for 1.44 billion yuan (S$290.7 million) in cash. The net book value of the real estate is about 509.5 million yuan as at March 31, and GuocoLand is expected to record a net gain of S$90.6 million. The deal will be paid for with cash in four instalments, with the first instalment of 288.2 million yuan to be paid upon the execution of the agreement. As part of the deal, the China subsidiary may also sell up to another 44 underground carpark spaces to the buyer, Shanghai Zhengjiu Industrial Co, at 160,000 yuan per space. The subsidiary said that it has received 1.4 million yuan from the buyer as " earnest money" for this sale, although if the sale does not go ahead, it will return the sum. Net proceeds from the transaction will be used for GuocoLand' s general working capital, including to repay debts. Shares of GuocoLand closed at S$1.30 on Thursday, down 0.76 per cent. https://www.businesstimes.com.sg/companies-markets/guocoland-unit-sells-guoman-hotel-in-shanghai-for-14-billion-yuan-in-cash |
| Good Post Bad Post | |
| 11-Apr-2020 11:50 |
Ezion
/
ezion views
Go to Message
|
|
x 0
x 0
|
Covid-19: Virus and Singapore' s shutdown delays Ezion' s rescue dealFRI, APR 10, 2020 - 9:19 PMTHE Covid-19 pandemic and ensuing closure of non-essential workplace premises during Singapore' s " circuit breaker" period has delayed the application for Ezion Holdings' proposed scheme of arrangement with white knight Yinson Holdings, the troubled offshore and marine group said on Friday. Under the rescue deal - which lapsed last October and was revived in March this year, Ezion was supposed to see its debts of some US$1.6 billion pared to about US$403 million. In return, Malaysia-listed Yinson would fork out US$150 million for a 63.4 per cent stake in the troubled offshore and marine group. Ezion said it will keep stakeholders informed of any further developments. In February, Ezion posted a narrower fourth-quarter loss of US$167.1 million, compared with a loss of US$390.8 million the year before. The group recorded lower other operating expenses of US$71.8 million, down 80.3 per cent from US$362.1 million, largely due to impairments and write-offs incurred in 2018.Trading in Ezion' s shares has been suspended since March 1, 2019, pending talks with a potential strategic investor. They last traded at 4.3 Singapore cents each. https://www.businesstimes.com.sg/companies-markets/covid-19-virus-and-singapores-shutdown-delays-ezions-rescue-deal |
| Good Post Bad Post | |
| 10-Apr-2020 13:06 |
Lendlease Reit
/
Lendlease Global REIT
Go to Message
|
|
x 0
x 0
|
Lendlease Global Reit withdraws profit and distribution forecasts for FY20 and FY21THU, APR 09, 2020 - 11:05 PMLENDLEASE Global Commercial Reit (Lendlease Global Reit) on Thursday said that it is withdrawing its profit and distribution forecasts for the financial years ending June 30, 2020 and June 30, 2021 as set out in its initial public offering (IPO) prospectus. Its move was triggered by its portfolio being hit by the Covid-19 outbreak. The manager said that due to the various measures enforced by the Singapore government in response to the outbreak, there will be an impact on the contribution by 313@somerset to the Reit&rsquo s distributable income from April 2020. Lendlease Global Reit had initially forecast a loss of S$15.6 million and a distribution per unit (DPU) of 3.82 Singapore cents for FY2020, and a profit of S$45.1 million and DPU of 5.29 Singapore cents for FY2021. The manager added that Sky Italia, which leases 100 per cent of Sky Complex, has to date made all its rental payments in a timely manner. It contributed 33.9 per cent of the Reit&rsquo s net property income for the period from its listing date Oct 2 to Dec 31, 2019. As at Dec 31, 2019, Lendlease Global Reit had a gearing ratio of 34.9 per cent and a cash balance of S$88.5 million. Its weighted average running cost of debt was 0.86 per cent per annum, with an interest coverage ratio at 10.8 times. The Reit&rsquo s borrowings are fully hedged with no debt maturities until its financial year ending June 30, 2023. Its weighted average debt maturity was 3.6 years. Separately, CDL Hospitality Trusts (CDLHT) said on Thursday that it has extended the operations of Novotel Singapore Clarke Quay by another three months due to demand for its rooms to be used for isolation purposes during the pandemic. The hotel was initially meant to cease operations early this month, with its lease agreement to be terminated on April 23. Following the extension, the hotel is expected to cease operations only in early July, and the completion of the divestment is expected to take place some time in July 2020. The completion of the W Singapore &ndash Sentosa Cove (W Hotel) acquisition will similarly be postponed to July. As at March 31, 2020, CDLHT' s gearing was about 37.3 per cent and its cash reserves stood at about S$100 million, which does not include amounts that can be drawn on under its committed revolving credit facility line. The cash reserves do not include the net cash inflow expected on the completion of the divestment of Novotel Singapore Clarke Quay and the acquisition of W Hotel. A total of 6.4 billion yen (about S$83 million) or the equivalent of 7.5 per cent of its total borrowings mature in September. Discussions are underway for the refinancing of debt. CDLHT is utilising this period of low occupancy to carry out critical guest-related asset-enhancement works, while deferring non-essential capital expenditures. In an update on Thursday, Ascott Residence Trust (ART) said 15 out of its 88 properties have temporarily closed, either in response to government mandates and health recommendations, or to optimise resources. Among its markets with higher transient demand, Australia, Japan, Europe and the US experienced a greater decline in occupancy in March, while properties catering to the longer-stay segment in countries like China, Vietnam and Singapore were less badly hit. Alternative sources of revenue during this period have been pursued, including providing accommodation to those on self-isolation, healthcare personnel on the frontline, workers looking for alternate work-from-home locations and workers affected by border shutdowns. The managers said they expect ART&rsquo s financial performance to be adversely impacted, prompting a potential review of the distributions to stapled securityholders &ldquo at a level determined to be prudent&rdquo . They added that ART has the financial capacity to weather the downturn. &ldquo We started the year on firm financial footing, with a relatively low gearing of 33.6 per cent and a well-staggered debt-maturity profile. In addition, there is sufficient cash on hand to meet our current operating requirements and unutilised credit facilities, which we can draw down on in times of need.&rdquo ART does not foresee issues in refinancing the debt maturing in 2020. With the completion of the divestment of partial gross floor area in Somerset Liang Court Singapore expected this year, ART will receive about S$163 million in cash proceeds. Lendlease Global Reit' s counter closed at 53.5 Singapore cents on Thursday, up 3.5 Singapore cents or 7 per cent. CDLHT' s counter closed at 89.0 Singapore cents, up 7.5 Singapore cents or 9.2 per cent. ART' s counter closed at 85.5 Singapore cents, up 7.5 Singapore cents or 9.62 per cent. https://www.businesstimes.com.sg/companies-markets/lendlease-global-reit-withdraws-profit-and-distribution-forecasts-for-fy20-and |
| Good Post Bad Post | |
| 09-Apr-2020 12:58 |
DBS
/
DBS
Go to Message
|
|
x 0
x 0
|
DBS keeps its FD rates attractive as peers cut theirsTHU, APR 09, 2020 - 5:50 AM Its decision likely due to the prevailing macroeconomic uncertainty Singapore INTEREST rates for fixed deposits (FDs) have gone down - in tandem with the slashing of the United States Federal Reserve funds rate - some by as much as 1.02 percentage points. DBS Bank, which has the largest market share of the low-cost current account and savings... |
| Good Post Bad Post | |
| First < Newer 14461-14480 of 14619 Older> Last |