THE following companies saw new developments that may affect trading of their securities on Monday (Feb 5):
Frasers Property: Frasers Property has achieved pre-sold revenue of S$2.4 billion across Singapore, Australia, Thailand and China as at Dec 31, 2023, with “steady progress” for its residential development portfolio, it said in a Friday (Feb 2) business update.
Clint: CAPITALAND India Trust(Clint) is buying three industrial facilities in OneHub Chennai, India, on a forward-purchase basis from Casa Grande Group.
On Monday (Feb 5), its trustee-manager said the total transaction cost of 2.7 billion rupees (S$43.2 million) includes the partial funding for the lease of the project land, as well as full funding for the project’s development.
From February 2024, Clint will provide funding for the project of up to 1.9 billion rupees across three phases.
Its net gearing ratio increased in Q1 FY2024 to 78 per cent as at Dec 31, 2023, up 2.2 percentage points end-September. But the group said it continues to focus on proactive debt management, and is well-positioned to repay and/or refinance all of its debt due in the financial year.
Pan-United, Keppel: READY-MIX concrete provider Pan-United is installing about 900 solar panels on the rooftops of its operational headquarters in Kaki Bukit in Singapore, as well as its slag grinding plant in Johor, Malaysia.
This will be done in partnership with Cleantech Solar, a Singapore-headquartered renewable energy development company backed by Shell Singapore, Keppel and Keppel Asia Infrastructure Fund.
Cleantech Solar is expected to complete the installation of these panels by Q1 of 2024, Pan-United said on Monday (Feb 5).
Hiap Hoe: HIAP Hoe will sell its Melbourne Docklands hotel for A$96 million (S$83.9 million) to WFM Financial, it said on Monday (Feb 5).
The real estate developer bought the waterfront site the hotel sits on in 2013 and subsequently developed it into Four Points by Sheraton, which opened in 2017.
It plans to use the proceeds to repay its bank borrowings and for working capital use, the group said.
Dasin Retail Trust: THE trustee-manager of said in a bourse filing on Friday (Feb 2) that it has received letters of demand from four individuals, for alleged outstandings owed in respect of monthly salary, payments made on the behalf of its trustee-manager, and/or a loan extended to its trustee-manager.
In the letters dated Jan 24, 2024, the trustee-manager was asked by its chief executive officer Wang Qiu; chief financial officer Ng Mun Fai; chief investment officer Lu Zhiqi, and executive secretary Liu Ting, for payments totalling S$783,376.
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