The following companies saw new developments that may affect trading of their securities on Monday (Apr 3):
SIA Engineering (S59): SIA Engineering Company (SIAEC) has inked a S$120.8 million agreement with Scoot, to provide the budget carrier with maintenance, repair and overhaul and fleet management support services.
The agreement will commence on Apr 1. It has a term of two years, with the option for an extension of one additional year, SIAEC said in a bourse filing on Friday (Mar 31). If extended, the agreement is expected to yield a labour revenue of S$120.8 million over the three-year term.
On Wednesday, SIAEC announced a fresh services agreement with national carrier Singapore Airlines (SIA). This agreement supersedes an earlier agreement that the two parties entered into in April 2019.
CapitaLand Investment (9CI): CAPITALAND Investment (CLI) has entered into a forward purchase agreement to acquire six multifamily assets in Osaka, Japan, at a purchase price of S$141.4 million for its regional core-plus fund, CapitaLand Open End Real Estate Fund (Coref).
The real estate investment manager said on Monday (Apr 3) that this deal marks Coref’s entry into the multifamily sector.
The six assets comprise 428 premium one-bedroom apartments located close to the commercial districts of Umeda and Namba, and are within walking distance to the nearest respective subway stations.
Sembmarine (S51): RIG builder Sembcorp Marine (Sembmarine) has given notice that it continues to record pre-tax losses for three consecutive years.
It, however, meets the financial entry criteria to avoid being placed on the Singapore Exchange’s (SGX) watch list, as its six-month average daily market capitalisation as at Mar 31 was S$4.77 billion.
According to SGX listing rules, mainboard-listed companies will be placed on the watch list under the financial entry criteria if they record pre-tax losses for the three most recently completed consecutive financial years, and fail to maintain an average daily market cap of at least S$40 million over the last six months.
Alpina (ZXY): Alpina Energy, a wholly-owned subsidiary of Catalist-listed Alpina Holdings, announced on Monday (Apr 3) that it has clinched a contract worth S$117 million to design, install, construct, test and commission solar photovoltaic systems for a Housing and Development Board (HDB) project.
The contract from HDB was jointly awarded to two companies last year. One of them was Digo Corporation, which is a wholly-owned subsidiary of Alpina Holdings, as well as another company known as Terrenus Energy.
The two later set up a joint venture company, Novasix, in a 51:49 ownership and subcontracted the project to Alpina Energy.