The following companies saw new developments that may affect trading of their securities on Wednesday (Mar 8):
Cosco Shipping (F83): Mainboard-Listed Cosco Shipping International has entered into a joint-venture (JV) agreement with Supply Fortune to invest in logistics infrastructure assets.
Through these investments, they seek to grow the logistics supply chain value in South-east Asia, and plan to also lease the assets for rental income, the logistics management service provider said in a bourse filing on Tuesday (Mar 7).
Under the agreement, Cosco Shipping will subscribe for 49 per cent of the issued and paid-up share capital of the JV company, while Supply Fortune will subscribe for the remaining 51 per cent.
Lian Beng (L03): A Lian Beng Group unit has secured a new construction project which has bumped up its construction order book in Singapore to some S$2.1 billion.
This order book will provide a “sustainable flow of activity” through FY2027, the mainboard-listed company said in a regulatory filing on Tuesday (Mar 7).
Lian Beng did not give further details on the new project, nor did it provide the value of the project.
EC World Reit (BWCU): More funds deposited by its sponsor for loan repayment have been released from escrow to help pay for some of the Reit’s outstanding mandatory repayments, EC World Real Estate Investment Trust’s (Reit) manager said on Tuesday (Mar 7).
Around S$5.7 million and US$1.9 million were used to partially repay existing offshore bank loans on Mar 2, while 29.3 million yuan (S$5.7 million) was used to repay existing onshore bank loans partially on Mar 7, the manager said.
The outstanding amount of relevant deposits stands at 29.9 million yuan, which the onshore facility agent continues to hold in escrow. The deposits held in escrow with the offshore facility agent have been fully utilised.
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