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.

Advertisement

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.

Datapulse Tech sinks in 1Q losses on impairment loss

SINGAPORE (Dec 13): Datapulse Technology sunk into losses of $1.3 million for the 1Q18 ended October from earnings of $6.2 million a year ago. In 1Q18, revenue from continuing operations fell 31.2% to $3.9 million due to the continued shrinking demand for media storage products and services during the quarter. In 2016, the group entered into a share sale and purchase agreement to dispose of its entire shareholding in One Global Inc, a wholly-owned subsidiary in Taiwan. Other income from continuing operations rose 5.4% to $117,000. However, total operating expenses rose 4.1% to $5.3....
Read More >>

Far East Group subsidiary to sell Selangor factory property for $3.8 mil

SINGAPORE (Dec 13): Refrigeration and air-conditioning systems manufacturer Far East Group announced Wednesday that wholly-owned subsidiary Far East Maju Engineering Works has accepted a letter of offer to sell its factory property in Selangor, Malaysia for RM 11.5 million ($3.8 million). Currently used as a warehouse, the property includes a single storey factory building, a double storey office building, and a piece of freehold industrial land spanning 4,485 sqm. The proposed disposal is expected to result in a gain on disposal of approximately $2.5 million after deducting estimated re....
Read More >>

SIIC Environment subsidiary awarded BOT wastewater project in Jiangsu

SINGAPORE (Dec 13): Nanfang Water, a 91.203%-owned subsidiary of SIIC Environment Holdings, has been awarded a build-operate-transfer (BOT) contract for a wastewater project at HuangQiao Industrial Park in Taixin City, Jiangsu Province, China, by the industrial park's administrative committee.  In a Wednesday announcement, SIIC Environment says the project entails the construction and operation of a wastewater treatment plant with a design capacity of 20,000 tons per day, with a Grade 1A discharge standard for a concessionary period of 30 years beginning from the agreement signing....
Read More >>