The following companies saw new developments that may affect trading of their securities on Wednesday (Apr 5):
Sabana Reit (M1GU): The manager of Sabana Industrial Real Estate Investment Trust (Sabana Reit) on Tuesday (Apr 4) announced that it had obtained provisional permission from the Urban Redevelopment Authority (URA) for additions and alterations to its property at 1 Tuas Avenue 4.
The development cost of this asset enhancement initiative (AEI) will be an estimated S$20 million, the manager said. The works will be internally funded.
The Reit had earlier announced that it had obtained the consent of JTC Corporation for the addition and alteration works. This paved the way for further submissions to relevant authorities, such as URA, for approvals.
GuocoLand (F17): At this year’s maiden state land tender for a 99-year leasehold private housing site, a plot along Lentor Gardens in the Yio Chu Kang area has drawn just one bid.
Mainboard-listed GuocoLand teamed up with Hong Leong Holdings’ Intrepid Investments to place the bid of S$486.8 million, or nearly S$985 per square foot per plot ratio (psf ppr).
Market watchers attribute the muted outcome for the tender, which closed on Tuesday (Apr 4), primarily to a potential oversupply in the area, the new Lentor Hills Estate. The Urban Redevelopment Authority (URA) has released a slew of sites in the past couple of years, and with more to come.
Parkson Retail Asia (O9E): The independent auditor for Parkson Retail Asia has again raised concerns about the ability of the department store retailer to operate as a going concern.
In a bourse filing on Tuesday (Apr 4), the board of Parkson Retail Asia said the independent auditor has, without qualifying its opinion, included an emphasis of matter in its report for the group’s financial statements for the year ended Dec 31, 2022.
Independent auditor Foo Kon Tan noted that Parkson Retail Asia’s current liabilities exceeded its current assets by S$19.8 million as at Dec 31.
Comments