The following companies saw new developments that may affect the trading of their securities on Friday (Dec 22):
CDL (C09): City Developments Ltd (CDL) expects a substantial drop in attributable profit for its 2023 financial year ending Dec 31, as no significant divestment gains were made in the year, the property giant said on Thursday (Dec 21).
Stating this in a profit guidance ahead of the February 2024 release of its unaudited financial results for the second half, CDL noted that the lack of significant divestment gains was intensified by higher financing costs. Nevertheless, the group added, it expects to remain profitable for FY2023 as its overall business performance as well as core operating earnings have not been significantly affected compared with the previous financial year.
CDL meanwhile said that it had provided for impairment losses for its investment properties in the United Kingdom in the first half and will continue to review its portfolio of properties for impairment review.
ComfortDelGro (C52): ComfortDelGro has agreed to acquire all shares in A2B Australia which it does not already own via a scheme of arrangement, where the land transport operator will pay A$1.45 (S$1.31) in cash per share.
Australian taxi network operator A2B is also a provider of technology and payment solutions for the personal transport industry. It is listed on the Australian Securities Exchange, and its offerings range from taxi services brands 13cabs and Silver Service, to its Cabcharge digital payment solution.
ComfortDelGro and its Australian subsidiary Swan Taxis currently hold about 9.3 per cent of A2B.
At A$1.45 apiece, the consideration for ComfortDelGro to acquire the remaining shares in A2B stands at A$165.1 million, or about S$145.7 million in Singapore-dollar terms.
Keppel Infrastructure Trust (A7RU): The trustee-manager of Keppel Infrastructure Trust (KIT) is committing up to 109 million euros (S$159 million) to acquire a 45 per cent stake in a solar portfolio from Enpal, Germany’s first green-tech unicorn.
Enpal is among the largest residential solar installers and fastest-growing energy companies in Europe, installing more than 2,500 new solar energy systems monthly, KIT’s trustee-manager said.
Given that the solar solutions are bundled and leased to households under 20-year lease agreements, the acquisition will bring some “highly predictable cash flows” to KIT, it highlighted.
IReit Global (UD1U): Ireit Global will divest Il·lumina, an office building in Barcelona, Spain, for 24.5 million euros (S$35.8 million), its manager said on Friday (Dec 22).
The consideration is 5.2 per cent above the property’s valuation of 23.3 million euros as at Jun 30, and was negotiated on a willing-buyer and willing-seller basis.
The freehold property is located in Esplugues de Llobregat, a mixed-use office and industrial area including a technology and audio-visual office cluster 5 km away from Barcelona’s financial district.
Nanofilm (MZH): Nanofilm Technologies International has started its venture into the European market with a 6.8 million euro (S$9.9 million) acquisition, the mainboard-listed company announced on Thursday (Dec 21).
The target being acquired is a German company called AxynTeC Dünnschichttechnik, which was founded by physicist Bernd Schey in 1999.
AxynTeC provides coating solutions to industrial and medical industries using its own patented thin-film technologies, according to Nanofilm, which also provides coating services and thin-film coating equipment solutions among its core services.
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