SG Equities Digest (Monday, 20 May 2024)
Announcement: The 'SG Equities Digest' will be on a short break till 03 June 2024 as I will be away on a vacation. It will resume on 04 June 2024. I apologise for any inconvenience this may cause.
Find updates of the following companies in the news in today's post: CapitaLand Ascendas REIT, Hong Lai Huat Group Ltd, Kingsmen Creatives Ltd, OUE Ltd, SIA Ltd, and TSH Resources Bhd:
CapitaLand Ascendas REIT (SGX: A17U)
20 May 2024: CapitaLand Ascendas REIT has issued a S$300 million 10-year green bond with a 3.73% annual coupon, managed by DBS (SGX: D05) and OCBC (SGX: O39). The proceeds will finance or refinance eligible projects under the REIT's green finance framework.
Hong Lai Huat Group Ltd (SGX: CTO)
20 May 2024: Hong Lai Huat Group has obtained 99.99% shareholder approval to sell its Cambodian assets, HLHI for US$1.5 million and HLH Agriculture for US$36 million. The proceeds will be used to strengthen the company's balance sheet and allow it to focus on becoming a full-suite real estate and property developer in Cambodia, according to executive deputy chairman and group CEO Ong Bee Huat.
Kingsmen Creatives Ltd (SGX: 5MZ)
20 May 2024: Kingsmen Creatives has partnered with US-based Infinity Experiences to bring the world's largest immersive space exploration-themed extended reality experience, Space Explorers: The Infinite, to the Asia Pacific and Middle East regions, starting with Singapore later this year. Since 2021, this exhibition, based on the Emmy-winning series by Felix & Paul Studios and TIME Studios, has welcomed over 400,000 visitors, offering an unparalleled glimpse into life aboard the International Space Station.
OUE Ltd (SGX: LJ3)
20 May 2024: OUE is making an off-market offer for shareholders to sell 10% of their shares at S$1.25 each, a 19% premium over the last traded price of S$1.05, with the option for shareholders to tender additional shares if others do not accept their full entitlement. The offer, which closes on 30th May, allows OUE to buy back up to 84,038,036 shares, and scaled-down pro-rata if oversubscribed, while shareholders will still receive FY2023 dividends if they own shares by 9th May.
Singapore Airlines Ltd (SGX: C6L)
20 May 2024: Singapore Airlines and Garuda Indonesia have signed an agreement to explore revenue-sharing arrangements for flights between Indonesia and Singapore and to collaborate on their frequent flyer programmes, allowing members to earn and redeem miles on both airlines' codeshare flights. This partnership aims to increase passenger capacity, improve connectivity, and support tourism and economic growth between the two countries, pending regulatory approvals.
TSH Resources Bhd (SGX: TSH)
20 May 2024: TSH Resources reported a 32% decline in net profit for the first quarter ended 31 March 2024, mainly due to lower revenue and the absence of disposal gains, with net profit falling to RM20.1 million from RM29.4 million in the previous year. Despite this, the company's core profit before tax increased by 13% to RM34.8 million, and it remains optimistic about future demand for oil palm products and plans to expand its planted hectarage steadily.