SINARMAS LAND LIMITED
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Incredible
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THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 28):
Singtel(Z74): Singtel dismisses report of Optus listing; analyst says flotation of Aussie unit now not optimal. Singtel is looking to list its Australian subsidiary, Optus, through an initial public offering (IPO), according to news outletThe Australianon Monday (Jun 27).
UOB(U11): United Overseas Bank (UOB) says it intends to issue $400 million worth of perpetual capital securities that will be first callable in 2027.
The SGD-denominated perpetual capital securities will be drawn down under the US$30 billion ($41.57 billion) global medium-term note programme.
The perpetual capital securities will bear a fixed distribution rate of 4.25% per annum, subject to a reset on Oct 5, 2027, and then every five years thereafter to a rate equal to the then-prevailing five-year Singapore Overnight Rate Average Overnight Indexed Swap (SORA-OIS) plus the initial spread of 1.47%.
Sinarmas Land(A26): PROPERTY developer Sinarmas Land has formed an investment arm, Living Lab Ventures, to fund Indonesian startups, the mainboard-listed company said in a bourse filing on Monday (Jun 27).
Living Lab Ventures will focus on 3 key verticals: technologies related to smart city living, digital life - which includes e-commerce and social networking - and mobility solutions for both people and goods. Living Lab will also provide mentoring for startup leaders.
Sinarmas has also set up Living Lab X, an incubator for startups that will offer partnerships with related companies and pilot testing.
Watches.com, Incredible Holdings(RDR): THE Singapore Exchange’s regulatory arm on Monday (Jun 27) handed out notices of compliance to Catalist-listed companies Incredible Holdings and Watches.com over a series of transactions that would result in joint investments and cross-shareholdings.
Both companies share a common executive director, Christian Kwok-Leun Yau Heilesen, as well as the following board members: Jacob Leung, Stanley Leung and Zhou Jia Lin.
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