Stocks In Focus SG (CSC Hldgs, Metro Hldgs, SingTel) – 19/12/14

CSC Holdings has entered into a framework investment agreement with New Hope Singapore (NHS) to negotiate a joint venture effort for the acquisition and development of a leasehold industrial land at Tuas South Street 9. CSC Holdings will acquire a minority interest in NH Singapore Biotechnology, which will be the joint venture vehicle in connection with the above acquisition and development. The $7 million land will be developed into a modern high value added factory, fabrication yards and workshops for NHS’ and CSC Holdings’ business operations.

Enviro-Hub Holdings announced a complete disposal of its indirect subsidiary QF 10, to Yew Seng Heng Development at a consideration less outstanding loans of $1.9 million. QF 10 is an investment holding company that currently owns several properties at Hillview Avenue and Lam Soon Industrial Building.

Metro Holdings’ indirect associate companies Diamond Wind Company and Choice Bright Holdings have agreed to sell their 50 percent interest in six companies to an unrelated party. The divestment is agreed upon at US$205.2 million. Metro’s 21.4 percent share of the consideration under the deal is approximately US$43.9 million ($ 57.3 million).

Oversea-Chinese Banking Corporation completed the acquisition of 15,100 shares in PT OCBC Sekuritas from PT Farnella Mandiri Utama, and an additional subscription of 0.2 million preference shares in PT OCBC Sekuritas, for a total consideration of IDR255.5 billion. With that, OCBC now owns 95.1 percent of PT OCBC Sekuritas.

Singapore Telecommunication signed a conditional agreement to wholly acquire Ensyst, an Australia company providing cloud-based services including cloud architecture, cloud migration and unified communications systems. The acquisition of AUD13 million will be paid in cash, subjecting to working capital adjustments. Based on Ensyst’s unaudited accounts as at 30 September, it has a net tangible asset worth of AUD0.2 million.

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