11 stories mentioning SGX:TQ5Updated 3d ago
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Frasers Property (SGX:TQ5) completed the divestment of equity interests in four properties in Germany and the Netherlands for 214.9 million euros, according to a Friday filing with the Singapore Exchange.Frasers, through two subsidiaries, continues to hold a 10.1% interest in two of the four property companies, the filing stated.
Frasers Property (SGX:TQ5) said the chief executive officer of unit Frasers Property Industrial, Reini Otter, will step down from the role, effective Dec. 17, to pursue a new career opportunity, according to a Friday filing with the Singapore Exchange.Otter has been the unit's CEO since 2019, the filing showed.
Singapore shares plunged on Thursday, tracking regional losses as investor confidence was weighed down by concerns over AI trade, coupled by continued tensions in the Middle East.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,514.30 and 5,551.25 throughout the day. It ended the session at 5,539.38, down 20.34 points or 0.4% compared to Wednesday's close.On the corporate front, shares of HG Metal Manufacturing (SGX:BTG) closed over 2% higher as it agreed to extend the long stop date for acquiring a property at 47 Tuas View Circuit in Singapore to Sept. 16.Lum Chang Creations (SGX:LCC) was down nearly 3% at the close with the company expecting to book a "significant increase" in its net profit for the fiscal year ended June 30, compared to a year earlier.Meanwhile, A consortium comprising Frasers Property (SGX:TQ5), Frasers Centrepoint Trust (SGX:J69U), Sunway MCL (KLSE:5211), Sekisui House (TYO:1928) and Lum Chang Building Contractors has emerged as the top bidder for the Bayshore Drive Government Land Sales site in Singapore.
A consortium comprising Frasers Property (SGX:TQ5), Frasers Centrepoint Trust (SGX:J69U), Sunway MCL (KLSE:5211), Sekisui House (TYO:1928) and Lum Chang Building Contractors has emerged as the top bidder for the Bayshore Drive Government Land Sales site in Singapore.The consortium made a bid of SG$2.1 million, 5.8% above the second-highest bid, according to a Wednesday filing with the Singapore Exchange.The mixed-use site spans an area of 57,460.6 square meters and is expected to yield up to 1,280 residential units and 22,500 square meters of commercial area.Depending on the positive outcome of the bid, the parties will jointly develop the residential component, while the commercial component will be developed and fully owned by Frasers Centrepoint Trust, Sunway MCL and Sekisui House.
Frasers Property (SGX:TQ5) unit, Frasers Property Singapore, named Tan Wee Hsien as its chief executive officer designate, effective Sept. 8, according to a Friday filing with the Singapore Exchange.Hsien will succeed Soon Su Lin, who will step down from the role, effective Oct. 1, and will transition to a group advisory role.
Singapore shares extended further gains on Thursday, tracking gains across the region as the US oil prices fell to their lowest level since the start of the US-Iran war, giving way to optimism.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,212.69 and 5,232.64 throughout the day. It ended the session at 5,218.96, up 2.97 points or 0.1% compared to Wednesday's close.On the corporate front, shares of Frasers Property (SGX:TQ5) were up nearly 2% at the close with the property developer proposing an optimization of its portfolio involving around SG$2.1 billion worth of assets.Elite UK REIT (SGX:MXNU) were down over 3% as it issued 25 million private placement units at 0.296 pounds sterling per unit.Meanwhile, GRP (SGX:BLU) subsidiary, Ratus Nautika, is facing new legal proceedings initiated by Energiser Enterprise for "further damages," following a settlement more than two months ago.
Frasers Property (SGX:TQ5) is proposing an optimization of its portfolio involving around SG$2.1 billion worth of assets, according to a Thursday filing with the Singapore Exchange.The proposal is expected to recalibrate the property developer's hospitality portfolio, enhance capital efficiency and drive long-term shareholder value.
Frasers Property's (SGX:TQ5) subsidiaries, Frasers Property Investments (Europe) and FPE Investments RE11, signed a conditional share purchase agreement with FLT Europe to divest their stakes in four property holding companies in Germany and the Netherlands for 214.9 million euros in cash.Shares of the property developer were down nearly 1% in Tuesday trading.FLT Europe is a subsidiary of Frasers Logistics & Commercial Trust (SGX:BUOU), while the four property holding companies own four logistics properties, according to a Monday bourse filing.The disposal is part of the company's strategy to recycle capital to optimize capital productivity.
Singapore shares closed in negative territory on Friday, joining a regional retreat as investors reacted to news of the latest military strikes between the U.S. and Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,895.09 and 4,939.10 throughout the day. It ended the session at 4,921.90, down 20.06 points or 0.4% compared to Thursday's close.According to Iranian news agencies, explosions were heard near the city of Bandar Abbas, with the Tehran regime responding by attacking US military vessels.On the corporate front, Oversea-Chinese Banking Corp. or OCBC's (SGX:O39) net profit attributable to equity holders rose 5% in the first quarter of the year to SG$1.97 billion from SG$1.88 billion a year earlier. Its shares were marginally up at the close.Shares of AvePoint (SGX:AVP) were up nearly 2% at the close as it booked a higher net income of $15.3 million during the first quarter of the year compared with $3.6 million a year earlier.Meanwhile, shares of Frasers Property (SGX:TQ5) closed nearly 3% lower, as its attributable profit to owners dropped by 38% during the fiscal first half ended March 31 to SG$88.4 million from SG$142.2 million a year earlier.
Frasers Property's (SGX:TQ5) attributable profit to owners dropped by 38% during the fiscal first half ended March 31 to SG$88.4 million from SG$142.2 million a year earlier, according to a Friday filing with the Singapore Exchange.Earnings per share fell to SG$0.02 compared with SG$0.035 in the year-ago period.Revenue declined 5.2% year over year to SG$1.51 billion from SG$1.59 billion, mainly due to the absence of contribution from Sky Eden@Bedok in Singapore.Shares of the property developer and manager dropped nearly 4% in Friday trading.
Frasers Property (SGX:TQ5) redeemed its SG$280 million worth of 4.25% bonds upon maturity on April 21, according to a Tuesday filing with the Singapore Exchange.Shares of the property developer were up nearly 1% in Wednesday trading.The bonds have been cancelled and delisted from the Singapore Exchange, the filing added.
