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Stocks In Focus SG (CapitaLand, F&N, Tigerair) – 26/01/15
CapitaLand’s wholly owned subsidiary The Ascott has secured contracts to manage three more properties with over 300 apartment units in Beijing and Hong Kong, of which two are from a strategic alliance in Beijing while the third will be Ascott’s fifth Hong Kong property. The contracts will further reinforce Ascott’s leadership position as the largest international serviced residence owner-operator in China, with over 12,900 apartment units in 72 properties across 23 cities. Ascott targets 20,000 apartment units in China by 2020.
DeClout has announced the acquisition of approximately 0.5 million new shares in Corous360 for $7.4 million, which were supposed to be allotted and issued to JTech Mobile. The issuance served as part of Corous360′s payment for its $4.7 million acquisition of Netipay. DeClout and JTech Mobile entered into another agreement on 23 January, under which JTech has irrevocably renounced in favour of DeClout all rights, title and interest in the shares, and has undertaken to procure the allotment and issuance of Corous360 shares to DeClout. The payment will then be satisfied in full by the allotment and issuance of 32 million new shares in DeClout to JTech, representing 9.3 percent of existing shares.
Fraser and Neave’s Malaysian subsidiary has secured a 22-year licensing agreements with Nestle, to manufacture and distribute the various brands of Carnation, Bear Brand, Bear Brand Gold, Ideal Milk and Milkmaid in ASEAN including Singapore, Thailand, Malaysia and Brunei. The agreements will extend the licensing term granted by Nestle on 1 February 2007. Fraser and Neave plans to invest THB300 million on a new filling and packaging line at the manufacturing plant in Rojana, Thaliand, to cater to growing demands.
Tiger Airways Holdings posted a 5.9 percent increase in revenue to $182.3 million for 3Q15 due to better yield, and higher traffic volumes. The group reported an operating profit of $4.1 million in 3Q15, a turnaround from the previous year, demonstrating progress in its turnaround plan. Net profit was at $2.2 million, contrasting to a $118.5 million loss in the previous year, mainly due to absence of losses relating to operations of overseas cubs.
WE Holdings has announced plans to issue 4.2 billion warrants at $0.001 each that could raise up to $16.7 million, which will go towards working capital use, and the financial flexibility for acquisition opportunities and potential growth. Separately, the group has acquired the entire capital of Philippines based integrated environment service provider, Maritrans Recycler for no less than US$2 million, to be paid in equal portion of cash and shares.
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