THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 8):
CapitaLand India Trust (CY6U): CapitaLand India Trust (Clint) has tied up with Indian property developer L&T Realty to develop nearly 6 million square feet of prime office space across Bengaluru, Chennai and Mumbai in India.
Clint will acquire these properties in a phased manner, both parties said in a joint press statement on Monday (Nov 7). They have inked a non-binding term sheet for a commercial platform.
L&T Realty will build and develop the office spaces, while Clint markets them. The latter’s manager expects the majority of the capital commitment for the projects to start in the second half of 2024.
NetLink NBN Trust (CJLU): NETLINK Trust (NLT), the wholly-owned subsidiary of fibre network infrastructure provider NetLink NBN Trust, has appointed Obayashi Singapore as the main contractor for the construction of its new central office at Sembawang Road.
The total cost of the new building, including the land premium and construction of its surrounding infrastructure, is expected to be around S$120 million over the next two years, said NetLink NBN Management, NetLink NBN Trust’s trustee-manager, in a bourse filing on Monday (Nov 7).
Expected to be operationally ready in 2024, the new central office will support the provision of fibre-based connectivity services to future developments in the northern region of Singapore. Together with NLT’s current network of 10 central offices across Singapore, it will enhance the resiliency of Singapore’s nation-wide fibre network.
Metech (V3M): Metech International on Monday (Nov 7) night announced the receipt of a second letter requesting the convening of an extraordinary general meeting (EGM) in as many days.
In a bourse filing, the investment holding company involved in electronic waste management solutions said it received a letter dated Nov 7 from Ang Poh Guan and Ng Cheng Huat (requisitioning members), who, the letter states, hold a combined stake of some 15.07 per cent in the Catalist-listed company.
Their letter referred to the company’s announcement on Nov 6 in relation to another requisition letter dated Nov 4 from Ng Eng Tiong, who is seeking an EGM to remove Samantha Hua Lei as the company’s chief executive officer and an executive director.