privatisation

Keppel T&T 3Q earnings down 12.3% to $11.8 mil on higher operating expenses, lower other income
SINGAPORE (Oct 17): Keppel Telecommunications & Transportation (Keppel T&T) announced that its 3Q18 earnings have dropped by 12.3% to $11.8 million, compared to $13.5 million in 3Q17. In 9M18, earnings saw a 32.4% increase to $47.2 million from $35.7 million in 9M17. Revenue for the quarter was 6.6% higher at $47.9 million from $45.0 million in the previous year, due mainly to ...
Keppel kept at 'hold' as analysts await clarity on transaction in M1 with SPH
SINGAPORE (Sept 24): Keppel Corporation (KEP) announced that it is considering a transaction involving its indirect interest in M1, together with Singapore Press Holdings (SPH). Keppel is also considering a transaction of its interest in Keppel Telecommunications & Transportation (KTT). Concurrently, Singapore Press Holdings (SPH) has also announced that it has been approached by Keppel ...
Croesus Retail Trust co-founder speaks up about going private
SINGAPORE (Jan 12): Last September, Croesus Retail Trust (CRT) was taken private by Blackstone Group at a higher price than it ever garnered in the public market. The trust had traded below its net asset value (NAV) for most of the 4½ years it was listed. “I was obsessed with closing the valuation gap,” says Jeremy Yong, who was managing director of CRT’s trustee-manager and ...
CityDev's privatisation bid for M&C bodes well for both, with or without deal: Phillip Capital
SINGAPORE (Dec 12): Phillip Capital is maintaining its “accumulate” rating on City Developments (CityDev) with a target price of $12.10, after the group announced its final takeover offer for the remaining shares of Millennium & Copthorne (M&C) it doesn’t own. In a Tuesday report, analyst Dehong Tan notes that the new offer of 620 pence per share is 12% higher than previously, ...
Fu Yu to privatise LCTH for $20.3 mil via selective capital repayment
SINGAPORE (Dec 8): Fu Yu Corporation, the manufacturer of precision plastic components, plans to privatise its subsidiary, LCTH Corporation, through a selective capital repayment exercise (SCR) valued at around RM61.3 million ($20.3 million). LCTH is listed on Bursa Malaysia and focuses on the precision manufacturing of tools and plastic products in Malaysia. As at 6 Dec, it has a share ...
GLP shareholders vote in favour of $16 bil privatisation deal
SINGAPORE (Nov 30): Global Logistic Properties (GLP) says its proposed $16 billion acquisition by Nesta Investment Holdings and subsequent privatisation has been approved on the back of “overwhelming shareholder support”. Nesta Investment is a subsidiary of a management-backed Chinese consortium including private equity firms Hillhouse Capital Management and Hopu Investment ...
Why SembMarine is unlikely to be privatised anytime soon
SINGAPORE (July 11): CIMB Research is maintaining its “add” rating on Sembcorp Marine (SMM) with an unchanged target price of $1.88. In a Tuesday report, analyst Lim Siew Khee says in the next decade, SMM could be Singapore’s only mega yard left that can compete head on with the Koreans when it comes to large-scale non-rig structures. While Keppel mothballs its unused yards, SMM ...
Wheelock Properties a potential candidate for privatisation, says Phillip
SINGAPORE (June 2): Phillip Capital is starting coverage on Wheelock Properties Singapore (WPSG) with a "buy” and a target price of $2.28 given the likelihood of privatisation and depressed valuation compared to its peers. In a Friday report, analyst Peter Ng says WPSG could be privatised by Hongkong-listed parent Wheelock and Company as shares of WPSG are thinly traded and has been trading ...
Straits Trading stands tall with majority stake in ARA Asset Management
SINGAPORE (May 17): OCBC Investment Research is maintaining its “buy” call on Straits Trading Company with an unchanged fair value estimate of $2.73, after it posted 1Q results which the research house deems to mark a “firm start to the year” for the group. (See also: Straits Trading reports 2.7% decline in 1Q earnings to $21.9 mil on lower revenue) In a Wednesday report, lead ...
3 reasons to accumulate on UMS, where all systems go
SINGAPORE (May 17): DBS Vickers Securities is maintaining its “buy” call on precision engineering group UMS Holdings, raising its target price on the stock to $1.07 from 73 cents previously after the group recorded its highest quarterly earnings in over a decade. (See also: UMS 1Q earnings treble to $11.2 mil on doubling of sales) The research house has raised its FY17F/18F earnings ...