SG Equities Digest (Monday, 15 July 2024)
Find updates of the following companies in the news in today's post: CapitaLand Investment Ltd, Eurosports Global Ltd, First Sponsor Group Ltd, Livingstone Health Holdings Ltd, NutryFarm International Ltd, Pan-United Corporation Ltd, SIA Ltd, Thomson Medical Group Ltd, and Yangzijiang Shipbuilding Holdings Ltd:
CapitaLand Investment Ltd (SGX: 9CI)
15 Jul 2024: CapitaLand Investment (CLI) has raised RMB1 billion (S$186 million) from the second tranche of its sustainability-linked panda bond, achieving a record low fixed coupon rate of 2.8% per annum. The net proceeds will be used to refinance existing borrowings, and the bond issuance supports CLI's target to reduce energy consumption intensity at its properties in China by 7.5% by 2025.
Eurosports Global Ltd (SGX: 5G1)
15 Jul 2024: EuroSports Global’s Scorpio Electric has received a Special Purpose Licence from the Land Transport Authority for its flagship electric maxi-scooter, the Scorpio Electric X1, making it the first Singapore-based electric motorcycle manufacturer to achieve this. Effective for 12 months starting mid-July, this licence allows comprehensive durability and endurance tests on Singapore's public roads, marking a significant milestone in developing a local automotive ecosystem and advancing Scorpio Electric's product development.
First Sponsor Group Ltd (SGX: ADN)
15 Jul 2024: City Tattersalls Club has sold its heritage-listed property at 194-204 Pitt Street, Sydney, to a consortium primarily owned by First Sponsor Group for A$24.7 million (S$22.5 million). The building will be integrated into a redevelopment plan for a 50-storey tower featuring residential apartments, a hotel, and event spaces, while preserving its historic facade and key interior features.
Livingstone Health Holdings Ltd (SGX: PRH)
15 Jul 2024: Livingstone Health Holdings plans to reorganise its subsidiaries and acquire the remaining 49% of Phoenix Medical Group (PMG) for S$1.58 million, paid partly in cash (amounting to S$776,160) and partly through the allotment and issuance of 47,616,465 shares of Livingstone Health at an issue price of 1.7 Singapore cents to the counterparties. This acquisition, aimed at expanding their primary healthcare segment, involves incorporating a new company, Phoenix Healthcare Solution, which will own significant stakes in PMG's subsidiaries after the reorganisation.
NutryFarm International Ltd (SGX: AZT)
15 Jul 2024: NutryFarm International, under judicial management since June 2022, has entered a restructuring agreement with investor Corpbond IV to settle creditors' claims. The agreement entails Corpbond paying each creditor a lump sum of 20% of their approved claim in cash, after which creditors will have no further claims against NutryFarm, provided several conditions, including court approval, are met by the specified deadlines.
Pan-United Corporation Ltd (SGX: P52)
15 Jul 2024: Pan-United has appointed Ken Loh as CEO and May Ng as executive chairman of the board. Ng, who has been the CEO since March 2011 and is the daughter of founder Ng Kar Cheong, will be succeeded by Loh, who has been with the company since 1999.
Singapore Airlines Ltd (SGX: C6L)
15 Jul 2024: Singapore Airlines Group reported a 7.2% year-on-year increase in passenger traffic for June, with passenger capacity rising by 11%. SIA and its subsidiary Scoot carried nearly 3.2 million passengers, a 9.7% increase, with a group passenger load factor of 87.4%; additionally, the cargo operations load factor rose to 58% due to strong e-commerce demand and sea freight disruptions.
Thomson Medical Group Ltd (SGX: A50)
15 Jul 2024: Thomson Medical Group has launched and priced S$45 million in notes with interest rates of 5.50% due in 2026 and 5.25% due in 2027, as part of their S$1 billion multicurrency debt issuance programme initiated in July. United Overseas Bank (UOB) (SGX: U11) is the sole dealer for these notes, while the previous S$30 million tranche will mature on 31 May 2028 with a 5.5% annual coupon.
Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6)
15 Jul 2024: Yangzijiang Shipbuilding is acquiring 866,671 sqm of land in Jiangsu Province, China, to establish a new clean energy ship manufacturing base, having entered into a framework agreement with the local government of Jingjiang City. The site, adjacent to Yangzijiang’s existing facility, will enhance productivity and operational efficiency, with the group planning to invest about RMB3 billion (S$550 million) over the next two years, focusing on liquid natural gas and other clean energy vessels, subject to governmental approvals and phased execution.
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