Latest news with #SharonLim
Business Times
13-05-2025
- Business
- Business Times
Cordlife receives partial offer from Thai-listed Medeze for 10% stake
[SINGAPORE] Private cord-blood bank Cordlife announced on Tuesday (May 13) that it has received a voluntary conditional cash partial offer for a 10 per cent stake in the company from Medeze Treasury, a wholly owned subsidiary of Medeze Group, a South-east Asian stem cell company. This is the Thai-listed group's first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife. The subsidiary of Medeze is seeking to acquire about 25.6 million shares at an offer price of S$0.25 per share. This reflects a premium of around 61.3 per cent over the last traded price of S$0.155 on Friday, and also the 12-month volume-weighted average price. As at Tuesday, Medeze Treasury holds nearly 1.7 million shares representing close to 0.7 per cent of the voting rights in Cordlife. Assuming that the offer becomes unconditional and there are no changes to the number of shares up for offer, the resultant direct shareholding of Medeze Treasury in Cordlife shall be around 10.7 per cent of the shares (excluding treasury shares) as at the record date. Medeze Treasury said the deal offers long-term opportunities for both companies, including the promotion of services together for market expansion, products and services development, and operational synergies. 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 Medeze Group could provide services such as the analysis and storage of the natural killer cell – known for its ability to kill cancer cells – to Cordlife's customers. Cordlife could offer its chromosomal and genetic analysis and screening services to customers of the offeror. The offer vehicle is a Singapore-registered company. Its directors are Sharon Lim and Veerapol Khemarangsan, who is also the chief executive officer and co-founder of the parent group. For financial year 2024, the Medeze Group recorded revenue of 874.3 million baht (S$34.1 million) and net profit of 338.7 million baht, representing growth of 23.6 per cent and 41.4 per cent year on year, respectively. The group was listed on Thailand's stock exchange in 2024. It has a market capitalisation of about S$305.6 million as at May 13. It is engaged in the business of analysing, sorting, culturing and storing stem cells and testing the potential of immune cells. Earlier in March, Cordlife sunk into the red with a net loss of S$6.3 million for its second half ended Dec 31, 2024, compared with a net profit of S$1.3 million in the previous corresponding period. This was mainly due to the fallout from lapses discovered in the storage of the company's cord-blood units two years ago. Cordlife requested a trading halt on Tuesday morning. The counter closed 1.9 per cent or S$0.003 lower at S$0.155 on Friday.
Business Times
13-05-2025
- Business
- Business Times
Cordlife receives partial offer for 10% stake from Thai-listed Medeze
[SINGAPORE] Private cord-blood bank Cordlife announced on Tuesday (May 13) that it has received a voluntary conditional cash partial offer for a 10 per cent stake in the company from Medeze Treasury, a wholly owned subsidiary of Medeze Group, a South-east Asian stem cell company. This is the Thai-listed group's first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife. The subsidiary of Medeze is seeking to acquire about 25.6 million shares at an offer price of S$0.25 per share. This reflects a premium of around 61.3 per cent over the last traded price of S$0.155 on Friday, and also the 12-month volume-weighted average price. As at Tuesday, Medeze Treasury holds nearly 1.7 million shares representing close to 0.7 per cent of the voting rights in Cordlife. Assuming that the offer becomes unconditional and there are no changes to the number of shares up for offer, the resultant direct shareholding of Medeze Treasury in Cordlife shall be around 10.7 per cent of the shares (excluding treasury shares) as at the record date. Medeze Treasury said the deal offers long-term opportunities for both companies, including the promotion of services together for market expansion, products and services development, and operational synergies. 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 Medeze Group could provide services such as the analysis and storage of the natural killer cell – known for its ability to kill cancer cells – to Cordlife's customers. Cordlife could offer its chromosomal and genetic analysis and screening services to customers of the offeror. The offer vehicle is a Singapore-registered company. Its directors are Sharon Lim and Veerapol Khemarangsan, who is also the chief executive officer and co-founder of the parent group. For financial year 2024, the Medeze Group recorded revenue of 874.3 million baht (S$34.1 million) and net profit of 338.7 million baht, representing growth of 23.6 per cent and 41.4 per cent year on year, respectively. The group was listed on Thailand's stock exchange in 2024. It has a market capitalisation of about S$305.6 million as at May 13. It is engaged in the business of analysing, sorting, culturing and storing stem cells and testing the potential of immune cells. Earlier in March, Cordlife sunk into the red with a net loss of S$6.3 million for its second half ended Dec 31, 2024, compared with a net profit of S$1.3 million in the previous corresponding period. This was mainly due to the fallout from lapses discovered in the storage of the company's cord-blood units two years ago. Cordlife requested a trading halt on Tuesday morning. The counter closed 1.9 per cent or S$0.003 lower at S$0.155 on Friday.
Business Times
13-05-2025
- Business
- Business Times
Cordlife receives offer for 10% stake from subsidiary of stem cell company Medeze
[SINGAPORE] Private cord-blood bank Cordlife announced on Tuesday (May 13) that it has received a voluntary conditional cash partial offer for a 10 per cent stake in the company from Medeze Treasury, a wholly owned subsidiary of Medeze, a South-east Asian stem cell company. This is the Thai-listed group's first step into the Singapore market, as the company seeks to explore business opportunities with Cordlife. The subsidiary of Medeze is seeking to acquire about 25.6 million shares at an offer price of S$0.25 per share. This reflects a premium of around 61.3 per cent over the last traded price of S$0.155 on Friday, and also the 12-month volume-weighted average price. According to the offeror, it believes there are long-term opportunities that could benefit both Medeze Treasury and Cordlife with the voluntary conditional cash partial offer, including the promotion of services together for market expansion, products and services development, diversification of business in the region, and cost and operational synergies by leveraging each other's expertise. As at Tuesday, Medeze Treasury holds nearly 1.7 million shares representing close to 0.7 per cent of the voting rights in Cordlife. Assuming that the offer becomes unconditional and there are no changes to the number of shares up for offer, the resultant direct shareholding of the Medeze Treasury in Cordlife shall be around 10.7 per cent of the shares (excluding treasury shares) as at the record date. 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 In a company statement, an example is provided where Medeze Group could offer services such as analysing and storing natural killer cell and hair follicle banking services to Cordlife's customers. Meanwhile, Cordlife could offer its chromosomal and genetic analysis and screening services to the customers of the offeror, if their collaboration eventuates. Such collaboration could strengthen the market position of both Cordlife and Medeze Group, and growth on an international level. A private company incorporated in Singapore in May 2021, Medeze Treasury has an authorised share capital of close to S$27.3 million consisting of one class of ordinary shares of S$1 each. Its directors are Sharon Lim and Veerapol Khemarangsan. The Medeze Group has been listed on Thailand's stock exchange since October 2024, with a market capitalisation of about S$305.6 million as at May 13. It is engaged in the business of analysing, sorting, culturing and storing stem cells and testing the potential of immune cells. Earlier in March, Cordlife sunk into the red with a net loss of S$6.3 million for its second half ended Dec 31, 2024, compared with a net profit of S$1.3 million in the previous corresponding period. This was mainly due to the fallout from lapses discovered in the storage of the company's cord-blood units two years ago. Cordlife requested a trading halt on Tuesday morning. The counter closed 1.9 per cent or S$0.003 lower at S$0.155 on Friday.
Business Times
25-04-2025
- Business
- Business Times
MPACT posts 14.8% lower Q4 DPU of S$0.0195
[SINGAPORE] Mapletree Pan Asia Commercial Trust's (MPACT) distribution per unit (DPU) for the fourth quarter ended March slid 14.8 per cent year on year to S$0.0195 from S$0.0229 previously. Unitholders can expect to receive the distribution payout on Jun 6. Distributable income stood at S$103.6 million for Q4, falling 14 per cent from S$120.5 million. The real estate investment trust's (Reit) revenue fell 6.8 per cent to S$222.9 million from S$239.2 million in the year-ago period, while net property income (NPI) for the quarter dropped 7.4 per cent to S$169.5 million from S$183.1 million. The manager of MPACT on Friday (Apr 25) attributed the lower revenue to reduced contribution from Singapore properties due to the divestment of Mapletree Anson on Jul 31, 2024, and lower overseas contributions. In a Q4 business update, Sharon Lim, chief executive officer of the Reit manager, noted that VivoCity spearheaded some stability, recording 3.5 per cent and 2.1 per cent year-on-year growth in the full-year revenue and NPI, respectively. 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 Reit's DPU for the full year stood at S$0.0802, down 10 per cent from S$0.0891 in the same period a year prior. Overall portfolio tenant retention rate was 89.6 per cent, with a weighted average lease expiry of 2.2 years as at Mar 31. 'We are intensifying efforts to safeguard occupancy and cash flow while exploring suitable opportunities to optimise the portfolio,' said Lim. The average term to maturity of debt was extended to 3.3 years as at Mar 31, from 3.1 years. Units of MPACT closed 1.6 per cent or S$0.02 lower on Thursday at S$1.22.
