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SGX:1F3

7 stories mentioning SGX:1F3Updated 2d ago

Every FINWIRES story that references SGX:1F3, newest first.

Asia

Aspen Unit Faces Winding Up Petition Over MYR3 Million Construction Claim

Aspen (SGX:1F3) said a winding-up petition was filed against its unit, Aspen Vision Builders, by contractor Proventus Bina over a disputed 2.7 million ringgit construction claim, according to a Monday Singapore Exchange filing.The unit is challenging the claim through ongoing arbitration and appeals after an adjudication awarded the contractor the amount plus interest and costs.Aspen Vision Builders has deposited 3.6 million ringgit with its solicitors as stakeholder funds, and said it will vigorously oppose the petition.The group does not expect a material financial impact, it said.

SGX:1F3
Asia

Aspen Group Sells Stake in Kerjaya Joint Venture

Aspen Group (SGX:1F3) sold a 30% stake in its second joint venture group with Kerjaya Property, Kerjaya Property Aspen, for 750,000 ringgit and redeemed around 13.8 million ringgit in preference shares, according to a Monday filing with the Singapore Exchange.The disposal of the shares was part of the developer's strategy to avoid further exposure to financial risks.Kerjaya Property Aspen's sole asset is a 2.055-hectare freehold land parcel in Batu Kawan in Malaysia.

SGX:1F3
Asia

Aspen (Group) to Dispose of 40% Stake in Malaysian Development

Aspen (Group) (SGX:1F3) agreed to divest a 40% stake in the Tanjun Bungah Development in Malaysia to joint venture partner, Kerjaya Prospek Ventures, for 80 ringgit, according to a Friday filing with the Singapore Exchange.The agreement for the share disposal also includes a recovery of 60 million ringgit in shareholder loans owed by the JV company to the subsidiary, AspenVision Tanjung.The pre-development project in Penang is yet to break ground, with the property developer exiting the business due to challenging macroeconomic conditions that have impacted construction costs and project margins.

SGX:1F3
Japan

Singapore Shares Surge as Trump Cancels Strikes on Iran; Aspen (Group) Up 7%

Singapore shares surged on Friday, tracking regional gains, with investor sentiment buoyed by the US president, Donald Trump's decision to end strikes on Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,995.83 and 5,045.28 throughout the day. It ended the session at 5,025.80, up 37.70 points or 0.8% compared to Thursday's close.On the corporate front, shares of Aspen (Group) (SGX:1F3) surged nearly 7% at the close as its associated company, Rivnis Ventures, signed a definitive agreement with Malaysia's Railway Assets Corporation (RAC), for a mixed development project in Penang.Serial Achieva (SGX:XHV) closed over 5% higher as it secured a $14.1 million AI infrastructure order following a successful first phase delivery.Meanwhile, shares of Aspial Lifestyle (SGX:5UF) were up nearly 3% at the close as it concluded its preferential offering, raising a total of SG$84.8 million in gross proceeds.

^STISGX:1F3SGX:5UFSGX:XHV
Asia

Aspen's Associated Firm Signs Deal for Malaysia Mixed Development Project; Shares Up 7%

Aspen (Group) (SGX:1F3) associated company, Rivnis Ventures, signed a definitive agreement with Malaysia's Railway Assets Corporation (RAC), for a mixed development project in Penang, according to a Thursday filing with the Singapore Exchange.Shares of the property developer were up nearly 7% in Friday trading.The development spans an area of 34.839 acres and will be used to build 338 housing units over a period of seven years.Additionally, the companies will also relocate current land occupiers to the new units.

SGX:1F3
Asia

Aspen (Group) Nominates Private Liquidator for Subsidiary

Aspen (Group) Holdings (SGX:1F3) nominated a private liquidator in place of an official receiver for the winding up of Aspen Glove.The High Court of Malaya in Malaysia issued a ruling for the change, according to a Sunday filing on the Singapore bourse.

SGX:1F3
Asia

Aspen Settles Dispute with Malaysian State Development Body

Singapore-listed Aspen (Group) (SGX:1F3) settled a public dispute with Malaysian government development body Penang Development Corp. (PDC) over a request for proposal process, according to a Wednesday bourse filing.The company had submitted the request in connection with the Batu Kawan Industrial Park 2. However, the government body nominated another company for the project.On May 22, the company had moved to clarify how the proposal was characterized publicly, which was followed up by a response from PDC.The disagreement between the two parties centered around the bridge construction component in the proposal. PDC interpreted the commitment to build a bridge as conditional on being granted a first right of refusal over 580 acres of adjacent PDC land.Now, the two parties have held discussions over the matter and closed the argument, with Aspen accepting the outcome of the process.

SGX:1F3

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