Explanation of the corporate events: User Manual
Corporate Updates - Singapore Exchange (SGX)
2025-10-03
Category: Corporate Updates
Frequency: Daily
Daily compilation of corporate updates and activities on SGX listed companies.
| Date | Company | Event Details | Sector | Event Summary |
|---|---|---|---|---|
| 2 Oct, 2025 | Yangzijiang Financial Holding | Yangzijiang Financial Holding, together with Xiamen TCL Industrial Investment and China Orient Asset Management, plans to take control of 23.36% voting rights in Ningbo Shanshan, a Chinese lithium battery anode maker under restructuring. The investors will buy shares in two phases and combine voting rights through an investment platform led by Yangzijiang. Yangzijiang is investing RMB1.02 billion, equal to about 4.8% of its net asset value, and says the move will help stabilise Shanshan’s ownership and support its core battery materials and display businesses. The deal still requires court and creditor approval. | Asset Management | Merger & Acquisition |
| 1 Oct, 2025 | Rex International | Rex International has raised its stake in Lime Petroleum to 89.74% from 80.14% through a share swap with Monarch Marine Holding. Under the deal, Rex acquired 9.6% of Lime Petroleum in exchange for transferring 40% of its Xer Tech unit in Sweden, which develops long-range drones, to Monarch. Lime Petroleum, based in Norway, holds Rex’s energy assets in Norway, Germany and West Africa. Rex said the move gives it greater control over Lime Petroleum, strengthening focus on its core energy business and providing more flexibility in financing, especially as banks grow cautious about fossil fuel lending. | Oil & Gas E&P | Restructuring |
| 1 Oct, 2025 | Digilife Technologies | Digilife Technologies has agreed to acquire a 51% stake in India-based Brimax AAC Products for INR336.6 million ($4.9 million). Brimax makes autoclaved aerated concrete (AAC) blocks and panels, with a new plant in Vadodara producing up to 600 cubic metres a day. The deal, subject to shareholder approval, will mark Digilife’s shift from its exited telecom and IT businesses into construction materials, tapping India’s fast-growing building sector. Brimax, which owns 23,515 sqm of land and began operations in early 2025, booked INR52.9 million ($0.8 million) in revenue for the first half of the year but remains loss-making. Completion is expected by Nov 15, pending bank and regulatory approvals. | Integrated Telecommunications Services | Merger & Acquisition |
| 1 Oct, 2025 | InnoTek | InnoTek, through its unit Mansfield Manufacturing, has agreed to sell its 70% stake in Hua Yuan Sheng Industrial to HuaYuanSheng Metal, Plastic and Electronic for US$500,000. The unit has been loss-making, posting losses of about $991,000 in 2023 and $1.02 million in 2024, and faces weak export demand with no signs of recovery. InnoTek says the sale will help strengthen its balance sheet and improve liquidity, with proceeds used for working capital and new investments. The deal, which needs approval from Vietnamese authorities, is not expected to significantly impact earnings or net assets. | Metal Fabrication | Disposal |
| 30 Sep, 2025 | Thakral Corporation | Thakral Corporation has completed the divestment of the Yotsubashi Nakano Building in Osaka for JPY5.3 billion (about SGD46 million), unlocking around SGD6.4 million in cash flow and generating a one-off profit of SGD2 million through its 57% stake in Thakral Japan Properties (TJP). The group said proceeds will strengthen working capital and be redeployed into new opportunities to enhance earnings and future growth, while it continues to hold five office assets and one hotel in Osaka. | Specialty Retail | Disposal |
| 30 Sep, 2025 | Mandarin Oriental International | Mandarin Oriental International, part of the Jardine Group, is in discussions to sell 13 office floors at One Causeway Bay in Hong Kong to Alibaba Group for about HK$7 billion. The property, redeveloped from the former Excelsior Hotel and completed in 2Q 2025, offers roughly 500,000 sq ft of office space and 55,000 sq ft of retail space. Mandarin Oriental noted that the sale is not guaranteed and terms remain uncertain. | Hotels, Motels & Cruise Lines | Disposal |
| 30 Sep, 2025 | Far East Orchard | Far East Orchard has completed the second stage of its phased acquisition of UK-based student accommodation operator Homes for Students (HFS), lifting its stake to 84% and making HFS a subsidiary. The group initially bought 49% in April 2024 for GBP17.6 million and subsequently acquired a further 35% for GBP25 million (about SGD43.3 million). HFS manages over 55,000 beds across more than 55 university towns and cities in the UK and Ireland, offering integrated accommodation and facilities management services. Far East Orchard plans to acquire the remaining stake by November 2030, strengthening its long-term presence in the UK student housing market and expanding recurring income from purpose-built student accommodation. | Real Estate Services | Merger & Acquisition |
| 29 Sep, 2025 | Geo Energy Resources | Geo Energy has secured a US$275 million (SGD 354.6 million) term loan facility from Bank Mandiri to refinance existing debt and support planned acquisitions and expansions. The 60-month loan reduces interest costs from 8.25% to about 6.7% per annum, with US$200 million allocated to refinance prior debt, US$55 million for operational and capital expenditure to expand the Triaryani (TRA) coal mine toward a 25 million ton annual capacity by 2026, and US$20 million for acquiring shipping companies specializing in commodity logistics. | Thermal Coal | Cash Call |
| 29 Sep, 2025 | Asian Micro Holdings | A 49%-owned subsidiary of Asian Micro Holdings is selling three freehold commercial office units at Gurney Tower, Penang, for RM1.55 million (SGD 480,000) to an independent third party. The units, totaling about 164 sqm and previously held for rental income, will generate estimated net proceeds of RM1.532 million, which the group intends to use for general working capital and new property opportunities. | Environmental Services & Equipment | Disposal |
| 27 Sep, 2025 | Spindex Industries Ltd | Spindex Industries’ chairman Tan Choo Pie, his son, and private equity partner PrimeMovers Equity are offering $1.43 per share to take the company private, valuing it at about $165 million. The Tans already control nearly 75% and plan to delist Spindex to cut listing costs and focus on long-term growth, while PrimeMovers sees it as a platform to expand in regional manufacturing. | Industrial Machinery & Equipment | Privatisation |
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