Latest news with #Olam
Business Times
9 hours ago
- Business
- Business Times
Stocks to watch: Grand Venture, Tung Lok, DFI, Olam, Stamford Land, Boustead, Wee Hur, OKP
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jun 2). Grand Venture Technology : The semiconductor company on Sunday said it had paused its proposed secondary listing on Malaysia's Bursa exchange in view of confidential talks with a third party in relation to a possible transaction which could lead to an offer for its shares. While discussions are ongoing there is no certainty that any transaction will take place, it added. The counter ended Friday 2.4 per cent or S$0.02 higher at S$0.84, before the announcement. Tung Lok Restaurants: The group posted a net profit of S$853,000 for its second half ended March, a 52.1 per cent decline from S$1.8 million in the year-ago period. For its full year, it sank into the red with a net loss of S$1.8 million, as compared to a S$2 million net profit previously. The losses came amid F&B industry woes as the group said it faced headwinds from a subdued economic outlook and softer consumer sentiment. The counter ended Friday unchanged S$0.085 before the announcement. DFI : The company said on Friday it has divested 22.2 per cent, or about 315.3 million shares in Robinsons Retail for an undisclosed sum. DFI became a significant minority shareholder in Robinsons Retail in 2018 through a share-for-share swap transaction involving Rustan Supercenters, an operator of food retail formats and supermarkets in the Philippines. Shares of DFI closed at US$2.76, up US$0.08 or 3 per cent on Friday, before the announcement. Olam : The agribusiness giant has secured a US$1.85 billion loan for general corporate purposes, said the company on Friday via a bourse filing. The loan, which was taken by Olam Agri – the company's food, feed and fibre operating group – has a three-year tenor and will be disbursed in two tranches. Shares of Olam closed 1.1 per cent, or S$0.01 higher at S$0.90 on Friday. Stamford Land : The property company on Friday reported a 14.2 per cent fall in net profit to S$17.6 million for its second half ended March, from S$20.6 million in the year-ago period. This came amid a 6.5 per cent decline in revenue, which came in at S$78.3 million as compared to S$83.8 million previously. Earnings per share stood at S$0.0119, down from S$0.0138. For the full year ended Mar 31, profit rose to S$32.8 million from S$5.9 million due to the absence of a fair value loss of S$81.5 million on investment property in the year ago period. The counter ended Friday flat at S$0.375 before the announcement. Boustead : A joint venture of Boustead Projects' wholly owned subsidiary was awarded a tender by JTC Corporation on Friday to develop an industrial facility on a land parcel under the industrial government land sales programme. The land parcel – known as Tukang Innovation Drive Plot A – spans 18,687 square metres, with a proposed allowable gross floor area of 46,717.5 sq m. Shares of Boustead closed at S$1.11, down S$0.03 or 2.6 per cent on Friday, before the announcement. Wee Hur : The property company has established a S$500 million multi-currency medium term note programme, it said via a bourse filing on Friday. The proceeds raised from notes issued under this programme will be used for the company's general corporate purposes. Shares of Wee Hur closed flat at S$0.42 on Friday. OKP : A unit of mainboard-listed infrastructure and civil engineering company OKP has won a contract worth S$258.3 million from the Land Transport Authority for the construction of new cycling path networks. OKP closed at S$0.725, up S$0.01 or 1.4 per cent on Friday, before the announcement.
Business Times
9 hours ago
- Business
- Business Times
Stocks to watch: Grand Venture, TungLok, DFI, Olam, Stamford Land, Boustead, Wee Hur, OKP
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jun 2). Grand Venture Technology : The semiconductor company on Sunday said it had paused its proposed secondary listing on Malaysia's Bursa exchange in view of confidential talks with a third party in relation to a possible transaction which could lead to an offer for its shares. While discussions are ongoing there is no certainty that any transaction will take place, it added. The counter ended Friday 2.4 per cent or S$0.02 higher at S$0.84, before the announcement. Tung Lok Restaurants: The group posted a net profit of S$853,000 for its second half ended March, a 52.1 per cent decline from S$1.8 million in the year-ago period. For its full year, it sank into the red with a net loss of S$1.8 million, as compared to a S$2 million net profit previously. The losses came amid F&B industry woes as the group said it faced headwinds from a subdued economic outlook and softer consumer sentiment. The counter ended Friday unchanged S$0.085 before the announcement. DFI : The company said on Friday it has divested 22.2 per cent, or about 315.3 million shares in Robinsons Retail for an undisclosed sum. DFI became a significant minority shareholder in Robinsons Retail in 2018 through a share-for-share swap transaction involving Rustan Supercenters, an operator of food retail formats and supermarkets in the Philippines. Shares of DFI closed at US$2.76, up US$0.08 or 3 per cent on Friday, before the announcement. Olam : The agribusiness giant has secured a US$1.85 billion loan for general corporate purposes, said the company on Friday via a bourse filing. The loan, which was taken by Olam Agri – the company's food, feed and fibre operating group – has a three-year tenor and will be disbursed in two tranches. Shares of Olam closed 1.1 per cent, or S$0.01 higher at S$0.90 on Friday. Stamford Land : The property company on Friday reported a 14.2 per cent fall in net profit to S$17.6 million for its second half ended March, from S$20.6 million in the year-ago period. This came amid a 6.5 per cent decline in revenue, which came in at S$78.3 million as compared to S$83.8 million previously. Earnings per share stood at S$0.0119, down from S$0.0138. For the full year ended Mar 31, profit rose to S$32.8 million from S$5.9 million due to the absence of a fair value loss of S$81.5 million on investment property in the year ago period. The counter ended Friday flat at S$0.375 before the announcement. Boustead : A joint venture of Boustead Projects' wholly owned subsidiary was awarded a tender by JTC Corporation on Friday to develop an industrial facility on a land parcel under the industrial government land sales programme. The land parcel – known as Tukang Innovation Drive Plot A – spans 18,687 square metres, with a proposed allowable gross floor area of 46,717.5 sq m. Shares of Boustead closed at S$1.11, down S$0.03 or 2.6 per cent on Friday, before the announcement. Wee Hur : The property company has established a S$500 million multi-currency medium term note programme, it said via a bourse filing on Friday. The proceeds raised from notes issued under this programme will be used for the company's general corporate purposes. Shares of Wee Hur closed flat at S$0.42 on Friday. OKP : A unit of mainboard-listed infrastructure and civil engineering company OKP has won a contract worth S$258.3 million from the Land Transport Authority for the construction of new cycling path networks. OKP closed at S$0.725, up S$0.01 or 1.4 per cent on Friday, before the announcement.
Business Times
3 days ago
- Business
- Business Times
Olam secures US$1.85 billion loan
[SINGAPORE] Agribusiness giant Olam has secured a US$1.85 billion loan for general corporate purposes, said the company on Friday (May 30) via a bourse filing. The loan, which was taken by Olam Agri – the company's food, feed and fibre operating group – has a three-year tenor and will be disbursed in two tranches. The first tranche is a US$1.6 billion conventional loan, while the remaining US$250 million will be issued as an Islamic loan. For the conventional tranche, the lead arrangers are ANZ, BBVA, BNP Paribas, ING, Intesa Sanpaolo, Natixis, as well as First Abu Dhabi. These are the banks responsible for arranging and syndicating the loan. HSBC is the conventional tranche's facility agent, which is responsible for managing the loan's day-to-day activities and the relationships between the borrower and lenders. For the Islamic tranche, the lead arranger and investment agent is Dubai Islamic Bank. Shares of Olam rose 1.1 per cent, or S$0.01, to close at S$0.90 on Friday.
Zawya
14-04-2025
- Business
- Zawya
Olam to focus on food ingredients business, sell the rest
Singapore-based food conglomerate Olam Group said on Monday it would invest $500 million in its food ingredients business and divest all remaining businesses and assets over time. The commodity trader, which counts state investment company Temasek as its largest shareholder, also said it plans to allocate $2 billion to repay all debts of its remaining businesses and make them self-sustaining, before pursuing their sale. Olam said the plan took into consideration the need to strengthen its balance sheet and the resilience of its operating groups "in the face of unprecedented macroeconomic uncertainties including tariffs". Olam will use the estimated $2.58 billion it receives from the sale of its stake in Olam Agri to Saudi Arabia's agricultural and livestock investment firm SALIC, along with the proceeds from future divestments, for the restructuring. The equity investment in Olam Food Ingredients will allow the company to explore options including a potential concurrent listing in Europe and in Singapore, it said. Olam also plans to restart share buybacks and progressively distribute proceeds from the sale of its other assets to shareholders via special dividends. In 2022, the company delayed a planned London listing for the food ingredients unit, citing market volatility amid the war in Ukraine. Its remaining businesses comprise startups incubator Nupo Ventures, technology and business services firm Mindsprint and Olam Global Holdco, which owns the group's non-core assets such as Olam Palm Gabon and Packaged Foods, its website showed. Shares of Olam climbed 3.5% to 88 Singapore cents per share on Monday morning, outperforming the 1.9% rise in the benchmark index. (Reporting by Aaditya Govind Rao in Bengaluru; Additional reporting by Yantoultra Ngui in Singapore; Editing by Tom Hogue and Cynthia Osterman)
Reuters
14-04-2025
- Business
- Reuters
Olam to focus on food ingredients business, sell the rest
April 14 (Reuters) - Singapore-based food conglomerate Olam Group ( opens new tab said on Monday it would invest $500 million in its food ingredients business and divest all remaining businesses and assets over time. The commodity trader also said it plans to allocate $2 billion to repay all debts of its remaining businesses and make them self-sustaining, before pursuing their sale. here. Olam will use the estimated $2.58 billion it receives from the sale of its stake in Olam Agri to Saudi Arabia's agricultural and livestock investment firm SALIC, along with the proceeds from future divestments, for the restructuring. The equity investment in Olam Food Ingredients will allow the company to explore options including a potential concurrent listing in Europe and in Singapore, it said. Olam also plans to restart share buybacks and progressively distribute proceeds from the sale of its other assets to shareholders via special dividends. In 2022, the company delayed a planned London listing for the food ingredients unit, citing market volatility amid the war in Ukraine.
