THE following companies saw new developments that may affect trading of their securities on Monday (Jan 8):
Keppel: Alpha Asia Separate Account, the fund managed by Keppel, has acquired Wevolve for an aggregate consideration of $348 million. Wevolve holds the office and retail space of Wilkie Edge, an eight-storey mixed-use development in Selegie.
Wilkie Edge, which was completed in 2008, has a net lettable area (NLA) of 157,400 sq ft with six office floors and two retail floors. It is located at the intersection of Wilkie Road and Selegie Road in Singapore’s Selegie education district. The property is also located within walking distance to the Dhoby Ghaut and Little India MRT stations.
First Resources: PALM oil producer First Resources has bought, through an indirect subsidiary, plantation assets held by Indonesian palm oil company PT Tri Bakti Sarimas for a cash consideration of 1.9 trillion rupiah (S$162.8 million).
The assets include mills, plantations and an unplanted land bank spanning around 17,600 hectares in Riau province, Indonesia. The deal was concluded on Dec 28, 2023, via a public auction conducted by the Indonesia government for the execution of mortgage rights held by a bank, said First Resources in a bourse filing on Friday (Jan 5).
The price tag of 1.9 trillion rupiah was based on the auction’s reserve price set by the bank after taking into consideration the asset’s most recent valuation performed by an independent appraiser, said the company.
Yanlord: CHINESE property developer Yanlord Land Group logged 32.4 billion yuan (S$6.1 billion) in total contracted pre-sales in the financial year ended December 2023. The figure is down 52.5 per cent from the 68.1 billion yuan it recorded a year ago.
Based on the group’s unaudited key operating figures filed on Friday (Jan 5), the pre-sales were for a contracted gross floor area (GFA) of about 1.2 million square metres (sq m), a 13.7 per cent drop from the previous year.
The developer, together with its joint ventures and associates, also recorded around two billion yuan of subscription sales as at Dec 31, 2023. This is expected to turn into property contracted pre-sales in the following months, said Yanlord.
AIMS APAC Reit: AIMS APAC REIT (AA REIT) has renewed two master leases for its properties in Singapore. The REIT, on Jan 8, announced that it has renewed its master lease with KWE-Kintetsu World Express (S) Pte Ltd at 7 Bulim Street for a new five-year term. The lease now expires on Dec 31, 2028 and was signed at a positive rental reversion over the expiring rental rate. The new lease is also subject to rental escalations. AA REIT says it will carry out exterior building improvement works at the property at Bulim Street.
In addition, the REIT has extended the master lease term with Aalst Chocolate Pte Ltd at 26 Tuas Avenue 7 for a further 10 years. The lease, which now expires on April 18, 2035, was also signed at a positive rental reversion over the expiring rental rate of the current lease term and is subject to rental escalations. To support Aalst Chocolate’s business requirements, AA REIT will carry out electrical upgrading works.
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