Gordon Tang of Singhaiyi becomes substantial unitholder in OUE C-REIT

Gordon Tang of Singhaiyi becomes substantial unitholder in OUE C-REIT

By: 
PC Lee
20/03/17, 12:04 pm

SINGAPORE (March 20): Chinese tycoon Gordon Tang has emerged as a substantial shareholder in OUE Commercial REIT (OUE C-REIT).

Tang, who heads property developer Singhaiyi Group, now owns 7.68% of OUE C-REIT, up from his previous holding of 4.88%, following a private placement.

Tang was a cornerstone investor in OUE Commercial REIT when it was listed in 2014.

According to analyst Tata Goeyardi of Religare Capital Markets, Tang could increase his exposure to OUE C-REIT after selling his entire stake in Cambridge Industrial Trust (CREIT) -- which could have been worth $70-80 million -- to Wheelock Properties.

According to Bloomberg, Tang also owns 7.8% of Suntec REIT worth about $350 million and about 9.7% of OUE Hospitality Trust worth about $120 million.

As at 12 noon, units of OUE C-REIT are trading at 68 cents.

Right timing: STI challenges resistance

SINGAPORE (Apr 20): Straits Times Index (Daily, 3,573) The Straits Times Index experienced an almost non-stop advance of 234 points from 3,339 a fortnight ago, when it was testing its 200-day moving average at 3,375, to 3,539. On Apr 19, the STI tested 3,604, just shy of the year’s high of 3,609 attained on Jan 24. The STI undoubtedly strengthened against the Hang Seng Index, which is still significantly below its Jan high. The rally enabled the STI to regain the confluence of its 50- and 100-day moving averages, currently at 3,475, the new support level. A break above 3,609....
Read More >>
Caption: Minority shareholder Chew Ah Kong urges shareholders to vote against the proposed 1-cent per share dividend.

Datapulse shareholders vote in favour of current board

Sharanya Pillai (Apr 20): The current board of Datapulse Technology successfully dodged an attempt to be ousted on Friday, clearing the way for the company’s controversial diversification plans into the haircare business. At a raucous extraordinary general meeting of nearly 200 shareholders, shareholders voted against resolutions to oust CEO and executive director Wilson Teng, chairman Low Beng Tin, and independent directors Rainer Teo and Thomas Ng. They also voted against resolutions to appoint the slate of directors proposed by the dissenting faction, namely Ng Bie Tjin @ Djuniarti ....
Read More >>

AusGroup bags $27 mil contract for structural, mechanical and piping installation in Western Australia

SINGAPORE (Apr 20): AusGroup’s subsidiary, AGC Industries, has been awarded a contract worth A$27 million ($27.4 million) for a structural, mechanical and piping installation package in Western Australia. The contract includes the installation of approximately 2,000 tonnes of structural steel and associated flooring and cladding; 70 tonnes of plate work; and 450 pieces of mechanical equipment for the Talison Lithium Chemical Grade Plant 2 (CGP2) expansion project at Greenbushes. The CGP2 project will significantly expand production of lithium oxide concentrates from Greenbushes. The....
Read More >>