SG Equities Digest (Wednesday, 19 June 2024)
Find updates of the following companies in the news in today's post: Raffles Medical Group Ltd, Rex International Holding Ltd, Sabana Industrial REIT, YKGI Ltd:
Raffles Medical Group Ltd (SGX: BSL)
19 Jun 2024: Dr Loo Choon Yong, executive chairman and co-founder of Raffles Medical Group, has continued his acquisition of the company's shares, purchasing 500,000 shares on 19 June at S$1.01 per share. Since 27 February, Dr Loo has steadily increased his stake to 54.64% of the company, while asserting no plans to delist or privatise the group.
Rex International Holding Ltd (SGX: 5WH)
19 Jun 2024: Rex International Holding has established a new joint venture company (JVCo) to consolidate its interests in Lime Petroleum and Porto Novo Resources, with Rex holding an 83.74% stake in the JVCo. This strategic move aims to leverage the Norwegian bond market for fundraising in USD, refinance existing bonds, and support exploration, development, and production activities amidst increasing financial sector aversion to fossil fuel investments.
Sabana Industrial REIT (SGX: M1GU)
19 Jun 2024: Sabana Industrial REIT has issued S$100 million in sustainability-linked bonds, due in 2029 with a 4.15% interest rate, to fund initiatives like installing solar panels on their properties. The REIT aims to reduce Scope 2 greenhouse gas emissions by 24% by the target date and achieve a 30% reduction by 2028, with the ultimate goal of becoming carbon-neutral by 2040.
YKGI Ltd (SGX: YK9)
19 Jun 2024: YKGI, operator of local F&B outlets including Yew Kee Duck Rice and Chicha San Chen, experienced a cybersecurity breach involving unauthorised access to its customer relationship management system, managed by an external vendor. The breach exposed personal information of Chicha San Chen members, prompting immediate action to patch the vulnerability, notify affected individuals, and recommend password changes, while a thorough review and ongoing investigation continue to enhance data security.
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