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Reports » Singapore

Singapore stock market and companies daily report (Wilmar Int’l, Japfa, Soilbuild REIT) (August 28, 2014)

August 28, 2014, Thursday, 05:43 GMT | 00:43 EST | 10:13 IST | 12:43 SGT
Contributed by Shares Investment


ISDN Holdings has agreed to dispose its 50 percent equity interest in an associate company, Servo Matic Technology (SMT), for RM0.3 million. As at 30 June 2014, the net tangible asset value of SMT is RM0.5 million.

Japfa recorded a 9.3 percent growth in turnover to US$767.3 million for the second quarter ended 30 June 2014, mainly attributable to better performances at its dairy and animal protein segments. In addition, the group recognised a US$9.6 million gain on disposal of asset held for sale. Consequently, bottom line soared 32.6 percent to US$20.8 million. For the six-month period, turnover and bottom line rose 5.8 percent and 2.8 percent to US$1.5 billion and US$34.4 million respectively.

Soilbuild Business Space Real Estate Investment Trust proposed the acquisition of a property located at 20 Kian Teck Lane for $22.4 million. The property is located on a land area of 3992.7 square metres and has a remaining land tenure of approximately 16 years, extendable for another 20 years. The acquisition will be financed by debt and push up the trust’s gearing level marginally to 32 percent. When completed, the property will be leased back to the seller.

Wilmar International proposed the acquisition of Nexsol (Malaysia) for a cash consideration of RM27 million from Kulim (Malaysia). At the same time, the group will acquire a 30-acres land parcel that is located in Johor Bahru, Malaysia, from Kulim for RM23 million in cash. Situated on the land parcel is Nexsol’s biodiesel and glycerine refinery which comes with a capacity of 0.1 million metric tonnes per annum.