Explanation of the corporate events: User Manual
Corporate Updates - Singapore Exchange (SGX)
2025-09-02
Category: Corporate Updates
Frequency: Daily
Daily compilation of corporate updates and activities on SGX listed companies.
| Date | Company | Event Details | Sector | Event Summary |
|---|---|---|---|---|
| 1 Sep, 2025 | mm2 Asia | mm2 Asia is winding up Cathay Cineplexes after failing to restructure debts owed mainly to landlords, including Frasers Centrepoint Trust and Lendlease REIT. Cathay, founded in 1939 and once a leading cinema and film brand in the region, was acquired by mm2 in 2017 for $230 million when it operated eight cinemas in Singapore. With losses mounting and no viable path forward, the group appointed Quantuma Singapore’s Luke Anthony Furler and Tan Kim Han as provisional liquidators, formally ending the chain’s long-standing presence in the entertainment industry. | Entertainment | Termination |
| 1 Sep, 2025 | GuocoLand Limited | GuocoLand is selling the five-star 251 rooms Thistle Johor Bahru hotel and its land to YTL Hotels & Properties for RM150 million, booking a net gain of RM35 million. | Real Estate - Development | Disposal |
| 1 Sep, 2025 | MetaOptics | MetaOptics, a Singapore-based maker of metalens components, is listing on SGX with a placement of 30 million shares at 20 cents each, raising $6 million gross ($4 million net) and valuing it at about $40.7 million. Founded in 2021, it claims to be the first pure-play metalens firm to go public, using semiconductor and laser technologies to develop glass-based colour lenses for mass production. Proceeds will go to R&D, product development, partnerships and expansion via organic growth, M&A or joint ventures. Its lenses target smartphones, AR/VR devices, LiDAR and heads-up displays, with the global market forecast to grow rapidly. Despite strong prospects, MetaOptics is still loss-making, with FY2024 revenue at just $79,440 and a net loss of $2.34 million. | Semiconductors | Proposed Listing |
| 1 Sep, 2025 | ComfortDelGro Corporation Limited | ComfortDelGro has acquired the remaining 46.5% stake in CityCab from ST Engineering’s unit for $116.3 million, making CityCab a wholly owned subsidiary. CDG, which has managed CityCab since 2005, said full ownership will strengthen its taxi business in Singapore and improve integration of its global point-to-point operations. The deal is expected to boost earnings and was fully funded via bank facilities. ST Engineering, meanwhile, will book $116.3 million in cash proceeds and a one-off disposal gain of about $77.2 million. | Railroads | Merger & Acquisition |
| 1 Sep, 2025 | Sembcorp Industries | Sembcorp Industries has secured a PUB tender to build an 86MWp floating solar farm at Pandan Reservoir, its third such project in Singapore after Tengeh (60MWp) and Kranji (150MWp for Meta Platforms). The new project boosts Sembcorp’s local portfolio to over 1GWp of solar and 300MWh of storage, supporting Singapore’s 2GWp renewable target by 2030. Globally, Sembcorp holds 18.9GW of renewable capacity. | Conglomerates | Contract Awarded |
| 29 Aug, 2025 | Yangzijiang Shipbuilding | The group has secured an additional US$920 million in shipbuilding contracts for 22 vessels — 18 containerships, two gas carriers and two bulk carriers — since its order book update for 1HFY2025 ended June 30. Deliveries are scheduled between 2027 and 2029, with limited impact on current-year earnings. Year-to-date, it has won 36 contracts worth a total of US$1.46 billion. | Shipbuilding | Contract Awarded |
| 29 Aug, 2025 | AIMS APAC REIT | IMS APAC REIT will acquire the Framework Building at 2 Aljunied Avenue 1 for $56.65 million, including a $10.9 million land premium to JTC Corporation. The deal is expected to yield 8.1% in initial net property income, translating into a 2.5% boost to distributions per unit (DPU) if fully debt-funded, or about 0.5% DPU accretion on a mix of equity proceeds from its 2023 fund raising and additional debt. | REIT - Industrial | Merger & Acquisition |
| 28 Aug, 2025 | Tiong Seng Holdings | Tiong Seng Holdings’ unit Robin Village Development (RVD) has signed an MoU with Rock Africa to develop precast production capabilities in Ghana, starting with a pilot student hostel project at the University of Ghana in Accra comprising four blocks with 2,280 rooms for up to 10,000 beds. RVD will provide design engineering, shop drawings, yard planning, training and technology transfer to build a skilled local workforce for both factory production and on-site installation. | Construction & Engineering | Business Venture |
| 28 Aug, 2025 | lam Group | Olam Group has shut down its digital farmer services platform Jiva Ag, which provided daily crop price updates and an AI-powered crop doctor, affecting over 600 employees in Singapore, Indonesia, India and Australia. The move is part of Olam’s Updated 2025 Re-organisation Plan to conserve cash and reduce debt. | Food Distribution | Termination |
| 27 Aug, 2025 | CapitaLand Ascott Trust | CapitaLand Ascott Trust (CLAS) has acquired three freehold rental housing properties in Osaka and Kyoto for ¥4 billion (S$34.2 million), funded by proceeds from the divestment of Citadines Karasuma-Gojo Kyoto and JPY debt. With an average occupancy of 97% and two-year lease terms, the assets will yield 4% in FY2025 versus just 0.4% from the divested property, leading to immediate income contribution and a 0.3% DPU accretion. CLAS says the move strengthens portfolio resilience and complements its earlier hotel acquisitions in Tokyo and Kanazawa. | REIT - Diversified | Merger & Acquisition |
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