Corporate Updates - Singapore Exchange (SGX)

2025-11-11
Category: Corporate Updates
Frequency: Daily

Daily compilation of corporate updates and activities on SGX listed companies.

Explanation of the corporate events: User Manual

Date Company Event Details Sector Event Summary
10 Nov, 2025 CSE Global CSE agreed to issue 62.97 million warrants to a wholly-owned subsidiary of Amazon, each exercisable at 76.71 cents (7% discount to VWAP) until Nov 9, 2030. The warrants, linked to qualifying Amazon payments totaling US$1.5 billion, could represent 8.7% of current shares if fully converted. They support commercial agreements, provide potential funding for operations, and strengthen the company’s capital base. Information Technology Services Cash Call
10 Nov, 2025 CSE Global CSE Global secured $146.1 million in new orders in 3QFY2025, bringing 9MFY2025 orders to $512.8 million. By segment, electrification orders fell 38.7% to $48 million, automation declined 52.1% to $22.9 million, while communications rose 24.2% to $75.2 million, boosted by acquisitions in the US. The group continues to focus on selective tendering in high-growth sectors to strengthen its order book. Information Technology Services Contract Awarded
10 Nov, 2025 Sembcorp Industries Sembcorp, via its wholly-owned Sembcorp Green Infra Private Limited, has secured a 150MW firm and dispatchable renewable energy (FDRE) project from SJVN Limited in India. The build-own-operate project integrates solar and battery energy storage systems (BESS) with a total installed capacity of about 750MW to deliver assured peak power under a 6,000MWh tender. Subject to a 25-year power purchase agreement, the project is expected to reach commercial operation within 24 months, funded through a mix of internal resources and debt. The award increases Sembcorp’s gross renewables capacity in India to over 7.6GW, backed by a development pipeline exceeding 4GW of solar and wind and 1.4GWh of BESS, supporting India’s growing need for flexible renewable power. Conglomerates Operation Updates
10 Nov, 2025 Singapore Telecommunications (Singtel) A consortium of KKR & Co and Singapore Telecommunications (Singtel) is seeking around S$5 billion in bank financing to acquire ST Telemedia Global Data Centres (STT GDC), potentially through a bridge facility split into a term loan and revolving credit, with follow-on takeout financing possible. If completed, it would be Asia’s largest leveraged buyout in the data centre sector, amid rising demand for cloud services and AI infrastructure. STT GDC, based in Singapore, operates over 100 data centres across 20 Asian markets and has a presence in Europe. The buyout follows last year’s S$1.75 billion minority investment, after which KKR owns 14.1% and Singtel holds 4.2%. Telecom Services Cash Call
10 Nov, 2025 iX Biopharma iX Biopharma plans to form a joint venture with US-based Orion Specialty Labs to manufacture and commercialise its WaferiX sublingual drug portfolio, avoiding additional clinical trials. Under the agreement, Orion will fund manufacturing equipment and working capital and take a 25% stake, while iX retains 75% ownership and contributes its patented drug delivery technology. Orion will offtake production from the venture, with equipment installation and pilot production expected in H2 2026, so the deal will not materially impact iX’s current-year financials. The partnership positions iX to expand into the US market and accelerate commercialisation of fast-acting, needle-free therapies. Pharmaceuticals Operation Updates
6 Nov, 2025 Metro Holdings Metro Holdings will earn $4.1 million from divesting its 30% stake in Dalyellup Shopping Centre, Western Australia, via its holdings in SLH Property Trust, Sim Lian Property Trust, and Sim Lian Property Trust II. The sale, completed on Nov 6 for A$35.8 million, aligns with SLMC’s portfolio reconstitution and capital recycling strategy. Metro’s Australian portfolio, after the divestment, is valued at about A$1.361 billion, spanning 17 freehold properties across New South Wales, Victoria, Queensland, and Western Australia, with proceeds to be used for corporate purposes including debt repayment and shareholder returns. Department Stores Disposal
6 Nov, 2025 Singapore Telecommunications (Singtel) Singapore Telecommunications’ unit Pastel Ltd is selling a 0.8% stake in Bharti Airtel for about US$1.2 billion through a private placement to institutional investors, marking Singtel’s fourth selldown since 2022. The deal, managed by JPMorgan, involves 51 million shares at a floor price of ₹2,030 each, a 3.1% discount to Airtel’s last close, with settlement due on Nov 10 and a 60-day lock-up. Singtel expects to book a gain of about US$1.1 billion, extending its capital recycling programme that has raised US$5.6 billion toward a US$9 billion target. The sale provides funds to strengthen its balance sheet and expand digital infrastructure and services, while maintaining a sizable 27.5% stake in Airtel valued at around US$51 billion. Telecom Services Disposal
6 Nov, 2025 Lendlease Global Commercial REIT Lendlease Global Commercial REIT has raised $280 million through a private placement that was three times oversubscribed. The funds will mainly finance its 70% acquisition of PLQ Mall in Singapore. The placement price of 60.2 cents per unit represents a 3.7% discount to the adjusted average price, Commercial REITs Cash Call
6 Nov, 2025 Beng Kuang Marine Beng Kuang Marine has secured new projects worth $15.9 million, bringing its total contract value to $22.1 million so far this year. The new wins include deck equipment and shipbuilding contracts valued at $8.1 million and $7.8 million respectively, along with earlier contracts worth $6.2 million for the supply of five 30-ton knuckle boom cranes. Construction & Engineering Contract Awarded
6 Nov, 2025 King Wan Corporation King Wan Corporation has secured $36.5 million in mechanical and electrical (M&E) contracts between July and September. The contracts cover plumbing, sanitary and gas installation works for mixed-use, public housing, and executive condominium projects at Beach Road, Fernvale Crescent, and Jalan Loyang Besar, as well as M&E system installations for school multi-purpose halls across several zones. All projects are expected to be completed between 2026 and 2028. Engineering & Construction Contract Awarded