THE following companies saw new developments that may affect trading of their securities on Wednesday (Mar 15):
Ho Bee Land: REAL estate company Ho Bee Land is selling two of its industrial properties to an unrelated third party for S$115 million.
The buildings sit on contiguous freehold land and have been held for long-term investment.
Their disposal is part of Ho Bee Land’s capital recycling strategy and is in the ordinary course of business, said the group on Wednesday (Mar 15).
Wing Tai: WING Tai Holdings’ Hong Kong-based associate company, Wing Tai Properties, has issued a profit warning, stating that the group may report a loss for the financial year ended Dec 31, 2022.
This is despite the company making HK$854.4 million (S$146.7 million) in profit in the previous FY.
This comes as the group’s share of results of joint ventures may be a loss of about HK$50 million for the financial year, versus a profit of HK$242.9 million in FY2021.
Boustead Projects; Boustead Singapore: BOUSTEAD Singapore’s bid to acquire Boustead Projects at S$0.95 a share and delist it got a slight boost on Tuesday (Mar 14), despite the Securities Investors Association Singapore (Sias) urging shareholders to reject the offer the evening before.
Boustead Singapore said as at 6 pm on Tuesday, it has garnered 87.88 per cent of the total number of shares in its mainboard-listed real estate subsidiary.
This was more than 1 per cent higher than a day ago, when the total number of shares owned, controlled or agreed to be acquired by Boustead Singapore and its concert parties as well as valid acceptances of the offer stood at 86.82 per cent.
Soilbuild: SOILBUILD Construction Group’s subsidiary Soil-Build was on Monday (Mar 13) ordered by the Singapore Mediation Centre to pay a subcontractor almost S$1 million within seven days, and borne S$20,000 in costs in relation to the adjudication application.
This is the outcome of the application which the subcontractor had lodged in respect of a claim for about S$1.28 million. Singapore Mediation Centre is a provider of alternative dispute resolution services.
Addressing the next steps, the company on Tuesday said Soil-Build, among other things, intends to seek recovery of the adjudicated amount from the subcontractor, and is working with its legal advisers, Allen & Gledhill, to initiate the appropriate dispute resolution process.
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