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Stocks In Focus SG (GLP, Oxley Hldgs, Pacific Radiance) – 12/03/15
CNA Group signed a memorandum of understanding with LiuLinxian Senzetengfei Aluminium Industry Co (LSAI) for a 5 percent shareholding to participate in the business of a bauxite processing plant and mine with estimated reserves of $600 million in Shanxi, China. The amount of investment in LSAI will be announced after due diligence is conducted.
Global Logistic Properties (GLP) has signed four new lease agreements totalling 63,000 square metres in China. These new tenants ranged across different industries, including e-commerce, packaged foods and pharmaceutical where three of them are multi-location tenants of GLP in China.
Oxley Holdings agreed to purchase a property located at 1603 and 1604 Akasaka 2-chome, Minato-ku in Tokyo, Japan for JPY655 million. The property consists of an 11-storey residential condominium with total gross floor area of 651.1 square metres which is erected on a freehold land parcel measuring 165.3 square metres. The acquisition will be funded by internal resources and bank borrowings.
Pacific Radiance via its subsidiary, Crest Offshore Marine, acquired an additional 1.3 million shares in the share capital of Radiance ZJ, a joint venture with Jiangsu Zhenjiang Shipyard (Group) Co, for US$1.3 million. Post acquisition, Crest will own 63 percent of equity interest in the target company.
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