Stocks to watch: Seatrium, Ban Leong, Oiltek, Addvalue
Seatrium : The group has secured a floating storage regasification unit (FSRU) conversion contract from energy company Kinetics. The project will commence in the third quarter of 2025 and involves the conversion of a liquefied natural gas carrier into an FSRU named LNGT Turkiye. It is the seventh FSRU partnership between the two companies. Shares of Seatrium were up 1 per cent or S$0.02 at S$2.05 as at 9.10 am on Thursday.
Ban Leong Technologies : Video game distributor Epicsoft Asia's voluntary unconditional cash offer to take the technology products distributor private closed at 5.30 pm on Wednesday. The offeror now owns, controls or has agreed to acquire 104.1 million or 96.6 per cent of Ban Leong's total issued shares and plans to compulsorily acquire all remaining unacquired shares and delist the group. Epicsoft Asia is a subsidiary of Nasdaq-listed GCL Global. As Ban Leong no longer meets the Singapore Exchange's 10 per cent free float requirement, its shares will be suspended from 9 am on Thursday. The counter closed flat on Wednesday at S$0.595, before the announcement.
Oiltek : The vegetable and edible oil processing company is supporting a sustainable aviation fuel pilot plant programme by global technology provider Sulzer, who will be in collaboration with the Sarawak Economic Development Corporation (SEDC). This programme will be executed through SEDC's new energy arm, SEDC Energy (SEDCE). The group said in a statement on Thursday it is in talks with SEDCE to explore the possibilities of involvement in the initiative, but that as at Thursday no definitive agreements have been entered into, and no formal plans have been finalised or approved by its board. Its shares closed flat at S$0.56 on Wednesday.
Addvalue Technologies : The group announced on Thursday that it has secured several new orders totalling around US$1.5 million for its advanced digital radio-related business. These orders are for the supply of the company's proprietary highly compact software defined radio modules to customers in the defence technology industry. They will also increase Addvalue's order book from US$14.3 million as announced on Jun 26, to US$15.8 million. The counter closed flat at S$0.015 on Wednesday.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Times
2 hours ago
- Business Times
EU, US reach agreement on joint statement outlining trade deal
[WASHINGTON] The US and European Union took the next steps to formalise their trade pact, detailing plans that could reduce tariffs on European automobiles within weeks while opening the door to new potential discounts for steel and aluminium. The joint statement issued on Thursday (Aug 21) represents an advancement of the preliminary deal announced a month ago, including specific benchmarks for the EU to secure its promised sectoral tariff discounts on cars, pharmaceuticals and semiconductors, as well as new commitments for addressing the bloc's digital services regulations. US President Donald Trump has repeatedly praised the sweeping US-EU trade framework, extolling it as 'a big deal' in a Monday White House meeting with foreign leaders including European Commission President Ursula von der Leyen. The development underscores the nature of trade talks under Trump, with some initial, broad pronouncements of deals giving way to weeks – or more – of work to hammer out detailed agreements. Many of them are also tied to sweeping policy changes that could take time to materialise. For example, Trump already imposed a flat 15 per cent rate on most European goods – half the 30 per cent he'd previously threatened. But the US promise to extend that lower levy to autos and auto parts now hinges on the EU formally introducing a legislative proposal to eliminate a host of its own tariffs on US industrial goods and provide 'preferential market access' for some US seafood and agricultural products. Car relief The statement outlines choreographed action on both sides of the Atlantic, with the US codifying reduced auto tariffs once the EU 'formally introduces the necessary legislative proposal to enact' its own promised tariff reductions. The discounted 15 per cent tariffs on European auto imports – lower than a 27.5 per cent Trump previously imposed on them – would be effective from the start of the same month that legislation is advanced. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up They could be in place within weeks, said a senior Trump administration official who briefed reporters on the initiative. The shift has been anxiously anticipated by some EU member states, particularly Germany, which exported US$34.9 billion of new cars and auto parts to the US in 2024. The legislative trigger is designed to help ensure the EU delivers on its promised tariff reductions – and ensure the 27-nation bloc has sufficient pressure to obtain the political mandate needed to make the changes, the administration official said. The US is committing to apply lower most-favoured-nation tariffs to a slew of other European products – including aircraft and aircraft parts, generic pharmaceuticals and their ingredients and some natural resources such as cork. The US is also renewing its commitment to cap sectoral tariffs on European pharmaceutical products, semiconductors and lumber at 15 per cent. Metals quotas It's also opening the prospect for discounted rates on some steel, aluminium and derivative products under a quota system. That's a shift from the White House's stated plans in July, when the Trump administration insisted those metal tariffs would remain at 50 per cent, helping to lower trade deficits with the EU and bring revenue to US coffers. On steel and aluminium , the EU and US now assert they 'intend to consider the possibility to cooperate on ring-fencing their respective domestic markets from overcapacity, while ensuring secure supply chains between each other,' according to the joint statement. The document raises major questions about how the EU might fulfill its promise to invest US$600 billion in the US or purchase some US$750 billion in US energy resources – including liquefied natural gas, oil and nuclear power products – through 2028. Private sector investments by European companies would be expected across strategic sectors in the US, including pharmaceuticals, semiconductors and advanced manufacturing, the senior administration official said. Meanwhile, the EU plans to substantially increase procurement of military and defence equipment from the US, according to the statement, and intends to buy at least US$40 billion worth of US artificial intelligence chips. According to the joint statement, the EU intends to provide preferential market access for seafood and non-sensitive agricultural goods imported from the US, including tree nuts, certain dairy products, fresh and processed fruits and vegetables, processed foods, planting seeds, soybean oil, and pork and bison meat. Digital trade In recent weeks, deliberations over the EU's digital services regulations and potential relief for some goods – including wine and spirits – were seen prolonging talks. The EU did not secure lower rates for alcohol in the joint statement. But the US and EU are pledging to address some of what the statement calls 'unjustified digital trade barriers,' with the bloc confirming that it will 'not adopt or maintain network usage fees.' The EU has committed to work towards providing more 'flexibilities' in its levy on carbon-intensive imports set to kick in next year, the statement said, and it will seek to ensure its corporate sustainability due diligence and reporting requirements don't pose 'undue restrictions on transatlantic trade.' Potential changes could include eased compliance requirements for small- and medium-sized businesses, according to the statement. BLOOMBERG
Business Times
3 hours ago
- Business Times
OrangeTee ties up with Japanese real estate agency to give Singapore investors more access to Japan market
[SINGAPORE] Investors in Singapore will soon gain access to more Japanese real estate opportunities through OrangeTee's partnership with Tokyu Livable, one of Japan's largest real estate agencies. Through OrangeTee, the proptech and real estate agency arm of Realion Group, Singapore-based investors will be able to tap Tokyu Livable's exclusive portfolio of residential and investment-grade properties. These include 'premium' renovated apartments in city-fringe districts, such as Nakameguro and Kichijoji in Tokyo; newly built condominiums in sought-after districts, such as Shinjuku and Shibuya; and brand-new investment residences in high-demand areas such as Minato, Chiyoda and Tokyo Bay. While OrangeTee's current focus is primarily on residential and retail investors, it said on Thursday (Aug 21) that its partnership with Tokyu Livable will also support clients exploring other strategic asset classes, such as hospitality, boutique developments and commercial assets in major cities like Tokyo and Kyoto. This would apply particularly to institutional and business-to-business (B2B) clients in Singapore and the region, it added. OrangeTee will provide end-to-end support, including curated property tours, personalised consultations and regular market insights, to help clients navigate the Japanese real estate market. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up 'The curated property opportunities undergo strict due diligence and come with the option of in-person viewings prior to transaction,' it said. As at Thursday, there were four listings of residences in Japan on OrangeTee's website. This included freehold one-bedroom units spanning 576 square feet (sq ft) in Tokyo's Asakusa area from around 69.8 million yen (S$607,570), and freehold two-bedroom units sized 593 sq ft in Yokohama from around 83.8 million yen. Steven Tan, director of OrangeTee International, noted that Japanese real estate is compelling for investors, given its stable yields, accessible financing and the growing demand for quality homes. 'Importantly, by backing (investors' exclusive access to Tokyu Livable's portfolio) with personalised consultation, on-ground local insights and seamless transaction support, we are making property investment in Japan more accessible than ever,' he added. Japan has long been a favourite among Singapore-based property investors, who continue to plough money into the market despite falling global interest rates . Earlier in June, for instance, Frasers Hospitality launched Yotel Tokyo Ginza for business and leisure travellers. Real estate and private-equity firm Patience Capital Group also partnered with Hong Kong-based Gaw Capital to acquire Tokyu Plaza Ginza for more than US$1 billion in February. In the past decade, OrangeTee's B2B division in Japan has transacted more than 50 billion yen worth of assets across the residential sector, as well as in offices, hotels, assisted living, dormitories and land. Clients include large family offices and Singapore real estate investment trusts. 'We are now broadening this focus to include the retail residential market, thereby extending our footprint beyond institutional engagements,' said OrangeTee chief executive officer Justin Quek. Market observers attribute the strong interest to the country's relatively low borrowing costs and yields that have remained in the 3.5 to 4 per cent range. The yen's continued depreciation has made Japanese assets more affordable for Singapore investors too. Quek, who is also deputy group CEO of Realion Group, added that the latest move is part of the group's aim of building an integrated regional real estate services platform. 'Japan is a key market in our growth strategy and deepening ties with Tokyu Livable strengthens our capabilities to serve both institutional and retail clients across asset classes,' he said. An investor seminar will be held on Sunday to kick-start the launch, with a team of OrangeTee consultants sharing market insights and opportunities in Japan. Established in 1972, Tokyu Livable is one of Japan's largest real estate providers with 198 offices across the country. Currently, it has 228 locations in its domestic network, covering areas such as Tokyo, Kansai, Nagoya, Sapporo, Fukuoka and Tohoku. The company in 2014 acquired a 22.5 per cent stake in OrangeTee. Beyond Japan, OrangeTee offers listings in other international markets such as Australia, Dubai, Malaysia, New Zealand, Thailand and the United Kingdom.
Business Times
3 hours ago
- Business Times
Johnson & Johnson to invest US$2 billion to boost US manufacturing as drug tariffs loom
[NEW YORK] Johnson & Johnson (J&J) said on Thursday (Aug 21) it would invest US$2 billion in North Carolina as it aims to expand its US manufacturing presence amid looming drug import duties proposed by President Donald Trump's administration. Major drugmakers, including Eli Lilly and AstraZeneca, have also committed to shell out billions of US dollars to scale up their US footprint in response to Trump's efforts, including tariff threats. Earlier this month, Trump said he plans to impose phased-in tariffs for the pharmaceutical sector, which could start small and eventually rise to 250 per cent. J&J said on Thursday it has reached a 10-year agreement with Tokyo-based contract drug developer Fujifilm Diosynth for its more than 160,000-square-foot manufacturing facility in Holly Springs, North Carolina, which would create about 120 new jobs. Fujifilm in April had signed a more than US$3 billion deal with Regeneron to manufacture and supply drug products for the US-based company at its North Carolina facility for a span of 10 years. J&J would also announce plans for additional manufacturing facilities in the US and the expansion of current US sites in the coming months. The healthcare conglomerate had said in March it would raise US investments by 25 per cent to more than US$55 billion over the next four years, including a separate plant in Wilson, North Carolina. REUTERS
