Mapletree Logistics Trust (MLT): It divested two warehouse properties in Japan for 4.25 billion Japanese yen (S$37.5 million). MLT’s trustee – HSBC Institutional Trust Services (Singapore) – entered into sale and purchase agreements with a third-party buyer for the proposed divestment of Toki Centre and Aichi Miyoshi Centre in Japan. Units of MLT closed unchanged at S$1.28 on Wednesday, before the announcement.
DBS: DBS and Japan Finance Corporation (JFC) signed a memorandum of understanding to help Japanese small and medium-sized enterprises (SMEs) expand into six markets in Asia – Singapore, China, Hong Kong, India, Indonesia and Taiwan – through a single banking partner, DBS. JFC, a public corporation wholly owned by the Japanese government, will extend standby letters of credit to Japanese SMEs to enable their local subsidiaries to secure long-term local currency-denominated funding more smoothly. Shares of DBS closed 0.3 per cent or S$0.14 higher at S$41.85 on Wednesday, before the announcement.
First Sponsor: The property developer is increasing its stake in Dutch property developer NSI to about 22 per cent from 17.5 per cent with the proposed acquisition of 920,839 NSI shares for 18.9 million euros, or about S$26.6 million. On Thursday, First Sponsor said it intends to fund the deal with net proceeds from its September 2024 rights issue. Shares of First Sponsor closed on Wednesday S$0.01 or 1 per cent down at S$1.03.
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