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SGX:PH0

9 stories mentioning SGX:PH0Updated 2d ago

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Asia

Hatten Land Completes Takeover by Metrocon

Hatten Land (SGX:PH0) completed the acquisition of the entire issued and paid up share capital of Metrocon, according to a Friday filing with the Singapore Exchange.The property developer undertook the share consolidation on July 31, consolidating every 830 existing shares into one consolidated share.All conditions precedent for the acquisition were also satisfied with the company acquiring Metrocon from the vendor, issuing around 107.7 million new consolidated shares at SG$0.26 each.Additionally, 22.4 million scheme creditors shares were issued to scheme creditors and 21.5 million funder shares to the funder at SG$0.26 each.The company has also lodged documents with ACRA to adopt a new constitution which will reflect the company's new name, Metrocon Holdings.

SGX:PH0
Asia

Hatten Land Changes Financial Year End to Dec. 31

Hatten Land (SGX:PH0), which is under judicial management, has changed its financial year-end to Dec. 31 from June 30 to streamline resource management, business operations and financial reporting, according to a Wednesday Singapore Exchange filing.As a result, the company's next full-year financial results will cover the 18-month period from July 1, 2025, to Dec. 31, 2026. The next full year results are slated to be released by Feb. 28, 2027.Hatten Land will hold its next annual general meeting by April 30, 2027, for the 18-month financial period.The company's shares have been suspended from trading since Aug. 6, 2024.

SGX:PH0
Asia

Hatten Land Makes Top-Level Appointments

Real estate developer Hatten Land (SGX:PH0) made top-level appointments on Tuesday, including naming Tan Kean Seng as chief executive officer, according to a same-day disclosure to the Singapore bourse.The company also appointed Alvin Lim Yee Yong as non-executive and non-independent chairman of the company with effect from Tuesday.

SGX:PH0
Asia

Singapore High Court Approves Hatten Land's Proposed Scheme of Arrangement

The Singapore High Court granted an approval to Hatten Land's (SGX:PH0) proposed scheme of arrangement with its creditors, according to a Thursday bourse filing.The scheme was approved by a majority in number representing more than three-fourths in value of the scheme creditors who voted on it.

SGX:PH0
Asia

Hatten Land Receives SGX Waiver on Profit Forecast Disclosure for Metrocon Acquisition

Hatten Land (SGX:PH0) received a waiver from the Singapore Exchange, exempting the company from third-party auditor attestation for financial projections used in an independent business valuation of the acquisition target, Metrocon.The waiver was sought since it could constitute a profit forecast under MAS guidelines, which require auditor attestation, according to a Tuesday bourse filing.SGX granted the waiver since the RTO circular contained no financial projections that would allow investors to derive Metrocon's future profits.

SGX:PH0
Asia

Hatten Land Seeks Judicial Management Exit

Hatten Land's (SGX:PH0) judicial managers have filed an application with the Singapore high Court, seeking to discharge the real estate developer from judicial management, according to a Friday bourse filing.The court is yet to fix a hearing date, with proceedings requiring any objecting party to file an affidavit by June 26.

SGX:PH0
Asia

Hatten Land Secures Whitewash Waiver for Metrocon Deal

Hatten Land (SGX:PH0) received a whitewash waiver from the Securities Industry Council (SIC) in connection with its subsidiary, LBD Engineering's, proposed acquisition of Metrocon, according to a Wednesday filing with the Singapore Exchange.Under the waiver conditions, independent shareholders must approve a whitewash resolution at a general meeting before the issuance of shares.The company is also required to appoint an independent financial adviser to advise independent shareholders on the proposed resolution.

SGX:PH0
Asia

Hatten Land Secures Scheme of Arrangement Approval from Creditors

Hatten Land (SGX:PH0) secured approval from the creditors for its proposed scheme of arrangement, according to a Monday filing with the Singapore Exchange.The property developer secured 92.31% votes in favor of the scheme, with the judicial managers expected to apply to the Singapore High Court to sanction the scheme.

SGX:PH0
Asia

Hatten Land Proposes Arrangement Scheme with Creditors as Part of Recovery Plan

Hatten Land's (SGX:PH0) judicial managers proposed a pre-packaged scheme of arrangements with the company's creditors as part of a broader restructuring plan, according to a Thursday filing with the Singapore Exchange.The scheme is part of the financially distressed company's proposed acquisition of Metrocon from LBD Engineering for SG$28 million, which will be satisfied through the issuance of over 107.7 million shares.The acquisition-tied scheme is expected to provide creditors with a better recovery than liquidation, where recoveries are anticipated to be nil, the property developer said.Under the scheme, creditors would receive new shares proportional to their approved claims, the filing said.Both the scheme and the acquisition are inter-conditional and cannot proceed without each other, Hatten Land said.

SGX:PH0

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