Latest Posts By Joelton
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| 16-Mar-2020 10:01 |
HRnetGroup
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why no one talk about this HRNET GROUP?
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HRnetGroup sanguine on Staffline play, profitability amid macro headwinds It acquired a 29.95% stake in troubled UK firm Staffline last year, and is looking for more opportunities in the M& A field. MON, MAR 16, 2020 - 5:50 AM WITH its large exposure to the labour market in Singapore and North Asia, recruitment specialist HRnetGroup is in the eye of the Covid-19 storm. But its executive director Adeline Sim plans to tide it over by tapping demand for flexible staffing, while hunting for M& A opportunities that... https://www.businesstimes.com.sg/companies-markets/hrnetgroup-sanguine-on-staffline-play-profitability-amid-macro-headwinds |
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| 16-Mar-2020 09:56 |
Perennial Hldgs
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Perennial makes weak debut on SGX
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Eyes on property market amid global slowdown Oxley, SingHaiyi and Perennial are on analysts' debt watch-lists MON, MAR 16, 2020 - 5:50 AM Singapore AS BEARS maul the stock market while firms grapple with a recessionary environment, the risk of a property market slowdown has risen, market watchers say. Analysts think a price crash is unlikely unless unemployment spikes first. But sales of new private homes will... https://www.businesstimes.com.sg/companies-markets/eyes-on-property-market-amid-global-slowdown |
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| 16-Mar-2020 09:55 |
SingHaiyi
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SingHaiyi
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Eyes on property market amid global slowdown Oxley, SingHaiyi and Perennial are on analysts' debt watch-lists MON, MAR 16, 2020 - 5:50 AM Singapore AS BEARS maul the stock market while firms grapple with a recessionary environment, the risk of a property market slowdown has risen, market watchers say. Analysts think a price crash is unlikely unless unemployment spikes first. But sales of new private homes will... https://www.businesstimes.com.sg/companies-markets/eyes-on-property-market-amid-global-slowdown |
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| 16-Mar-2020 09:53 |
Oxley
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Is Oxley a good buy at current price?
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Eyes on property market amid global slowdown Oxley, SingHaiyi and Perennial are on analysts' debt watch-lists MON, MAR 16, 2020 - 5:50 AM Singapore AS BEARS maul the stock market while firms grapple with a recessionary environment, the risk of a property market slowdown has risen, market watchers say. Analysts think a price crash is unlikely unless unemployment spikes first. But sales of new private homes will... https://www.businesstimes.com.sg/companies-markets/eyes-on-property-market-amid-global-slowdown |
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| 13-Mar-2020 10:31 |
AJJ Medtech
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OEL OIL TURNABOUT THEMES?
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OEL in non-binding pact to buy 51% stake in China healthcare firm THU, MAR 12, 2020 - 8:38 AM CATALIST-LISTED OEL (Holdings) on Thursday said it has entered into a non-binding memorandum of understanding (MOU) for the proposed acquisition of a 51 per cent stake in Shanghai Longjian Hospital Management Co. This comes after the property management company on Feb 12 said it plans to diversify into early childhood childcare and health education in Singapore, as well as the healthcare industry, through a share placement to investors led by controlling shareholder Zhang Jian. Due to commercial sensitivity, the final amount for the acquisition will only be disclosed upon entry of a definitive agreement, the company said. The MOU is not legally binding, save for the provisions relating to cost, confidentiality, duration and exclusivity, governing law and dispute resolution. The agreement sets out the key commercial terms as agreed between the company and Shanghai Longjian and the parties shall negotiate with the intention of executing the definitive agreement within six months from March 10, when the MOU was signed, OEL (Holdings) noted. Founded in Shanghai, China in March 2019, Shanghai Longjian is in the business of hospital management, medical technology, biotechnology technology development and health management consulting. The founder and legal representative of Shanghai Longjian is Ye Wenzheng, who is one of the top authorities in China' s haematology department, according to OEL (Holdings). Following the completion of the proposed acquisition, Mr Ye will continue to lead Shanghai Longjian' s healthcare business in China. Among other projects, the doctors of Shanghai Longjian are using the medical technology of a hydrogen generator to conduct " medical expert guidance, clinical services and technical specification control for Covid-19 affected patients" , the company said. This technology has been recognised by China' s authoritative experts and is being applied in Wuhan Central Hospital, Jinyintan Hospital, Zhongnan Hospital, Hanyang Hospital and Puren Hospital. Shares in OEL (Holdings) last traded at 1.6 Singapore cents on March 9, down 0.2 cent or 11.1 per cent. https://www.businesstimes.com.sg/companies-markets/oel-in-non-binding-pact-to-buy-51-stake-in-china-healthcare-firm |
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| 13-Mar-2020 10:08 |
Sim Leisure
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Sim Leisure...Hv Fun Here?
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Singapore stock watch: SIA, Keppel, Khong Guan, Guocoland, Lendlease Reit Sim Leisure Group: Malaysia-based food and beverage group Tropika Kiara and its director, Tan Boon Seng, have become substantial shareholders with 10 per cent of the Catalist-listed company' s shares. Meanwhile, Sim Leisure chief executive Sim Choo Kheng' s shareholding dropped from 77.93 per cent to 67.93 per cent following the transaction. https://www.straitstimes.com/business/companies-markets/singapore-stock-watch-sia-keppel-khong-guan-guocoland-lendlease-reit |
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| 13-Mar-2020 09:58 |
3Cnergy
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3Cnergy Living Sdn. Bhd. to provide aged care cent
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3Cnergy to sell three plots of land at Puteri Harbour THU, JAN 23, 2020 - 12:27 AM 3CNERGY &ndash formerly known as HSR Global &ndash is putting up three plots of freehold land totalling 1.86 million square feet (sq ft) at Puteri Harbour in Malaysia for sale by public tender. The public tender will be launched on Jan 23 by wholly-owned subsidiary 3C Marina Park (3CMP) through real estate agent Knight Frank Malaysia. 3Cnergy, which is controlled by Tong Kooi Ong, owner of news publication The Edge, had acquired 3CMP in August 2016 with the intention to develop the sites into a mixed-use development called MarinaPark. But the group had to defer the development for a variety of reasons. These include regulatory changes in Malaysia to proposed integrated developments, the government' s decision to freeze approvals for residential properties above RM1 million, and a property market that had generally deteriorated. The regulatory changes require the building plan for a development to be finalised upon launch. This means that when the first phase of MarinaPark is launched, the group would have to finalise all the building plans for subsequent phases yet to be launched, with no allowances for changes thereafter. https://www.businesstimes.com.sg/companies-markets/3cnergy-to-sell-three-plots-of-land-at-puteri-harbour |
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| 13-Mar-2020 09:50 |
GuocoLand
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GuocoLand
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Corporate digestFRI, MAR 13, 2020 - 5:50 AM Guocoland PROPERTY developer Guocoland has established a new subsidiary called Chongqing Xin Hao Ren Real Estate Development Company in China with a registered capital of RMB 1.3 billion (S$260 million), the mainboard-listed company said in an exchange filing on Thursday... https://www.businesstimes.com.sg/companies-markets/corporate-digest-1093 |
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| 13-Mar-2020 09:37 |
Ascott REIT
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Ascott Buy or Sell
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Ascott Residence Trust buys Sydney serviced apartments for A$46m THU, MAR 12, 2020 - 10:45 AM ASCOTT Residence Trust (ART) has bought Quest serviced apartments in Sydney for A$46 million (S$41.5 million), which reflects a yield of mid 5 per cent. The Quest serviced residence, in Sydney&rsquo s second-largest business district of Macquarie Park, will fall under a master lease agreement and add to the stapled group' s stream of stable income, said Beh Siew Kim, chief executive of ART' s managers on Wednesday. The annual rent under the master lease agreements provides an Ebitda (earnings before interest, tax, depreciation and amortisation) yield of mid 5 per cent. It is also indexed at a 4 per cent increase each year, subject to a periodic market review, she added. The off-market sale was negotiated by Savills Australia on behalf of seller Tuggeranong Valley Rugby Union and Sports Club. The property, located at 71 Epping Road, Macquarie Park, is 14.7 kilometres from Sydney' s central business district. https://www.businesstimes.com.sg/companies-markets/ascott-residence-trust-buys-sydney-serviced-apartments-for-a46m |
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| 12-Mar-2020 10:45 |
Frasers L&C Tr
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Frasers Logistic & Industrial Trust IPO
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M& A
FLT, FCOT unitholders vote overwhelmingly in favour of merger to create $5.7 bil behemoth
Uma Devi 11/03/2020, 8:14pm
SINGAPORE (Mar 11): The unitholders of both Frasers Logistics Trust (FLT) and Frasers Commercial Trust (FCOT) have approved the proposed merger of the two entities for a price tag of $1.54 billion.
The total consideration for the proposed merger comprises $138.1 million in cash and some 1,128.1 million consideration units.
The deal would see FCOT unitholders receive $1.68 for each FCOT unit held at the REIT&rsquo s books closure date. This constitutes 15.1 cents per unit in cash and 1.233 new FLT units at an issue price of $1.240 per unit, representing a gross exchange ratio of 1.355 times.
In separate extraordinary general meetings on Wednesday, both REITs had called for a vote on the merger proposal. The duo had also called for trading halts prior to market open.
For FLT, some 99.85% of unitholders voted for the merger, while 98.61% of FCOT&rsquo s unitholders were in favour of the merger.
The merger, which was first announced in December last year, would see FLT acquire all units of FCOT in exchange for a combination of cash and new units in FLT.
The REIT managers had also said that the merger would create an enlarged REIT with a total portfolio worth a total of $5.7 billion. The merged entity was also slated to be one of the top 10 largest S-REITs by market capitalisation, with greater index representation on the FTSE EPRA/NAREIT Index.
See: Frasers Logistics & Industrial Trust to acquire Frasers Commercial Trust for $1.54 bil in proposed merger
See: FLT, FCOT eye merger as growth stalls in Australia and Europe while mark-to-market issues surface
Back in December, the managers of both FLT and FCOT had lauded the merger as one that would boost the capabilities of both REITs by boosting growth and delivering value to shareholders.
&ldquo The merger will be a win-win transaction for both FLT and FCOT unitholders, delivering DPU accretion and greater growth prospects,&rdquo said Robert Wallace, chief executive officer of FLT&rsquo s manager.
&ldquo It enhances our financial capacity and flexibility to pursue acquisitions through our expanded mandate and a right of first refusal (ROFR) pipeline in excess of $5.0 billion,&rdquo added Wallace.
Jack Lam, CEO of FCOT&rsquo s manager had termed the merger a &ldquo transformational&rdquo one for both parties, allowing the REITs to tap on each other&rsquo s strengths to create a more resilient and diversified platform.
&ldquo With the combined portfolio, we will be able to unlock synergies and explore new opportunities in the logistics, industrial and commercial sectors,&rdquo added Lam.
In conjunction with the proposed merger, FLT had also announced the proposed acquisition of 50% interest in Farnborough Business Park (FBP) from a wholly-owned subsidiary of its sponsor Frasers Property for an estimated price tag of £ 90.1 million ($157.7 million).
FBP is a 46.5 ha freehold high-quality business park located in the Thames Valley in the United Kingdom. It reportedly has a net lettable area of approximately 50,882 sqm, committed occupancy rate of 99.1% and weighted average lease expiry (WALE) of 6.8 years as at end-September 2019.
The acquisition was also put forth at the extraordinary general meeting. 99.76% of FLT unitholders had voted in favour of the4 acquisition.
Units in Frasers Logistics Trust and Frasers Commercial Trust closed flat at $1.23 and $1.62 respectively on Wednesday.
https://www.theedgesingapore.com/news/ma/flt-fcot-unitholders-vote-overwhelmingly-favour-merger-create-57-bil-behemoth |
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| 12-Mar-2020 10:33 |
Q&M Dental
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Q&M dental
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https://www.businesstimes.com.sg/companies-markets/qm-joins-2-chinese-companies-to-establish-mask-making-company-amid-shortage-due-to
Q& M joins 2 Chinese companies to establish mask-making company amid shortage due to Covid-19 WED, MAR 11, 2020 - 10:40 PM
MAINBOARD-listed Q& M Dental Group is joining hands with two Chinese companies to establish a surgical mask-manufacturing company, the company said in an exchange filing on Wednesday evening.
It said it entered into a non-binding memorandum of understanding with Hubei Asihubao Living Supplies, a company that manufactures and sells Class 1 medical devices, and Guangzhou Pharmasen, a medical equipment wholesaler.
Under the proposed investment, all three companies will contribute funds to set up the joint venture company, with Aishubao contributing 70 per cent Pharmasen, 10 per cent and Q& M, 20 per cent.
The actual terms of the proposed investment and the respective investment amounts will be negotiated and agreed upon at the " definitive agreement stage" , Q& M said.
This agreement comes in the wake of a worldwide shortage of surgical masks, which saw subsequent price surges, due to the Covid-19 outbreak.
Q& M said even though it has a " healthy stockpile" of surgical masks for its staff and employees, it decided to enter into this joint venture as a means to reduce its reliance on external manufacturers and safeguard the company against future supply shocks.
Q& M shares closed at S$0.46 on Wednesday, up two Singapore cents or 4.55 per cent from the previous day.
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| 12-Mar-2020 10:28 |
StarHub
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Starhub
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StarHub unit buys 88% of Strateq' s shares for S$82.1m
WED, MAR 11, 2020 - 11:03 PM
MAINBOARD-listed telco StarHub has inked a deal to acquire, through an indirect subsidiary, a significant stake in a Malaysian information and communications technology company for S$82.1 million.
The company said in a statement on Wednesday that its Malaysia-based subsidiary Taman Kenyir Holdings will pay the initial consideration for 88 per cent of Strateq' s shares.
Established in 1988, Strateq transformed from a systems integrator to designing and delivering data-driven digital solutions to serve predominantly enterprise and government customers across Malaysia, Singapore, China, Hong Kong, Thailand and the United States, the telco said.
It added that Strateq focuses primarily on healthcare information systems, retail fuel information technology (IT) managed services and payment solutions, cloud services, data analytics, data centre services and IT infrastructure projects.
StarHub said it is strengthening its enterprise digital services capabilities across the region through this investment in Strateq, following the creation of cyber security firm Ensign InfoSecurity.
https://www.businesstimes.com.sg/companies-markets/starhub-unit-buys-88-of-strateqs-shares-for-s821m |
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| 12-Mar-2020 10:02 |
Lum Chang
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LUM CHANG
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Property
Lum Chang divests London office property for $98.7 mil
Stanislaus Jude Chan 11/03/2020, 12:05pm
SINGAPORE (Mar 11): Construction and property development group Lum Chang Holdings announced Wednesday it has divested 100% of its interests in a trust holding an office building at 130 Wood Street in London, UK, for a net cash consideration of £ 54.8 million ($98.7 million).
The purchasers are two special purpose vehicles wholly-owned by UK Property Investment (UKPI), a joint venture company that is 70% owned by Lum Chang.
Raymond Lum and David Lum &ndash Lum Chang&rsquo s directors and controlling shareholders who together control 41% of the group via direct and indirect interests &ndash also collectively hold 30% indirect interests in UKPI through Lum Chang Investments and Bevrian, respectively.
The group says the consideration was arrived at following arm&rsquo s length negotiations on a willing-buyer-willing-seller basis, based on the adjusted unaudited net asset value of the trust as at March 10.
It also takes into account the agreed value of the property at £ 55.2 million.
Part of the consideration will go towards the repayment of an existing Sterling denominated loan amounting to £ 29.9 million, which was secured against the property.
The consideration is subject to post-completion review and adjustments, which is expected to conclude in 2Q2020.
Lum Chang says the transaction allows the company to realise the value of the asset and to unlock capital for reinvestment.
The company expects to recognise an estimated post-tax net gain of £ 0.5 million from the divestment, after taking into account the transaction costs.
As at noon on Wednesday, shares in Lum Chang are trading 2.9% lower, or down 1 cent, at 34 cents.
https://www.theedgesingapore.com/capital/property/sph-spend-189-mil-asset-enhancement-initiative-uk-student-accommodation-portfolio |
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| 12-Mar-2020 09:27 |
Clearbridge
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SARS RELATED PLAYS..
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https://www.straitstimes.com/singapore/who-declares-covid-19-outbreak-a-pandemicWHO declares Covid-19 outbreak a pandemicThe World Health Organisation (WHO) yesterday declared the coronavirus outbreak a pandemic, citing the alarming levels of spread around the world. " We are deeply concerned both by the alarming levels of spread and severity, and by the alarming levels of inaction. We have, therefore, made the assessment that Covid-19 can be characterised as a pandemic," said WHO director-general Tedros Adhanom Ghebreyesus at a news conference, adding that the organisation was not using the word lightly. There are now over 120,000 cases in 114 countries. In Singapore yesterday, 12 new Covid-19 cases were confirmed, including eight people who are believed to have caught the disease outside the Republic. Of the four locally transmitted cases, one is linked to the private dinner at Safra Jurong another, a staff nurse at Ng Teng Fong General Hospital, is linked to an imported case from the Philippines while contact tracing is ongoing for the other two. The latest update brings the number of cases here to 178. Three more patients were discharged. |
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| 10-Mar-2020 15:41 |
Clearbridge
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SARS RELATED PLAYS..
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Investing ideas This healthcare stock could be a multibagger as share price plunges to all-time low Stanislaus Jude Chan 10/03/2020, 1:02pm SINGAPORE (Mar 10): Phillip Securities Research is reiterating its confidence in healthcare player Clearbridge Health, on the back of the expansion of its regional footprint. The optimism comes despite Clearbridge posting a set of results for FY2019 ended December that came in below expectations. Clearbridge narrowed its losses to $10.6 million for FY2019, a 42.8% improvement from losses of $18.4 million a year ago. While the group remains loss-making, Phillip notes that Clearbridge turned EBITDA positive in 2HFY2019. Excluding one-offs, share option expenses and R& D expenses, Clearbridge recorded EBITDA of $0.38 million in 3QFY2019. EBITDA then grew 44.8% quarter-on-quarter to hit $0.55 million in 4QFY2019. And Phillip forecasts that the company will clock another year of positive EBITDA in FY2020. The brokerage is keeping its &ldquo buy&rdquo call on Clearbridge Health with an unchanged target price of 26 cents. FY2019 revenue more than trebled to $21.5 million, from $6.1 million a year ago. The top-line growth was driven by strong contributions from its healthcare acquisitions during the year. &ldquo The early years of Clearbridge Health will be spent building its regional footprint,&rdquo says Phillip&rsquo s research team in a March 10 report. &ldquo We believe Clearbridge Health is focused on organic growth of its acquisitions through investing into newer facilities, larger economies of scale in operations, cross-sell and introduce more complex services across their regional platform.&rdquo Already, Clearbridge has expanded its regional presence to include Singapore, Indonesia, Philippines, Malaysia and Hong Kong. In particular, PT Indo Genesis Medika (IGM), which was acquired in May 2019, contributed some $10.3 million, or 48% of total group revenue for FY2019. Meanwhile, Clearbridge Medical Philippines, a 4-storey facility in Manila, is also seeing improving patient flow following the completion of its renovation in 1HFY2019. In Singapore, the group is also expected to benefit from the acquisition of nine clinics under the Dental Focus Group in September 2019. &ldquo In emerging markets, general practitioner (GP) clinics will be less profitable due to the practice of self-medication. However, dentistry cannot be self-medicated,&rdquo Phillip&rsquo s analysts say. &ldquo We expect another year of strong growth for CBH. The largest contribution will come from recent acquisitions &ndash IGM and Dental Focus. Newly opened facilities in Malaysia and the Philippines will be another source,&rdquo the research team adds. As at 12.50pm, shares in Clearbridge Health are trading 0.4 cent higher, or up 3.4%, at 12 cents. This comes after the counter plunged 14.7% to close at an all-time low of 11.6 cents on March 9 &ndash the &ldquo Black Monday&rdquo which saw global markets plummet by record levels on the back of a Saudi-led oil price war as well as coronavirus fears. Shares in Clearbridge are currently trading 57.1% lower than its initial public offering (IPO) price of 28 cents in December 2017, and 79.6% below its all-time peak of 58.8 cents in January 2018. |
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| 10-Mar-2020 10:55 |
Clearbridge
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Building Up The Regional Footprint
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PhilipCapital :: Clearbridge Health LimitedBuilding up the regional footprint
Maintain BUY with an unchanged target price of S$0.26. Growth in FY20e will be
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