SINGAPORE: Frasers Property AHL Limited has established an AUD 2 billion Multicurrency Debt Issuance Programme, which is unconditionally and irrevocably guaranteed by Frasers Property Limited. In connection with the Programme, the Issuer has appointed Oversea-Chinese Banking Corporation Limited and Australia and New Zealand Banking Group Limited to act as the joint arrangers and dealers of…
SGX and IPOS jointly launch Intangible Disclosure Evaluation and Audit Scheme
SINGAPORE: Singapore Exchange (SGX) and the Intellectual Property Office of Singapore (IPOS) have partnered to launch the Intangible Disclosure Evaluation and Audit Scheme (IDEAS) programme exclusively for SGX-listed companies and companies preparing for a listing. The programme aims to raise awareness and encourage companies to undergo intangible assets (IA) evaluations and promote a more robust…
Yew Grove REIT acquires portfolio of six office buildings at Millennium Park for €25.3 million
LONDON: Yew Grove REIT, which owns a diversified portfolio of Irish commercial property assets, has completed the acquisition of a portfolio of six office buildings at Millennium Park, Naas, County Kildare. The purchase price for the portfolio is €25.3 million, which represents a net initial yield of 5.8 per cent. after accounting for purchase costs….
Mediclinic Southern Africa gets approval for the acquisition of Matlosana hospitals
LONDON: Mediclinic International, a diversified private healthcare services group, announced that its Mediclinic Southern Africa division has received approval for its proposed acquisition of a controlling share in Matlosana Medical Health Services Proprietary Limited, based in Klerksdorp in the North-West Province of South Africa. The acquisition includes two multi-disciplinary hospitals namely the 185-bed Wilmed Park…
Hg Group to acquire smartTrade Technologies to accelerate growth in multi-asset electronic trading solutions
LONDON: Hg Capital Trust, Europe’s leading software investor, has entered into an agreement to acquire stakes from Keensight Capital and Pléiade Venture in smartTrade Technologies, a leader in multi-asset electronic trading solutions, headquartered in Aix-en-Provence, France. David VINCENT, CEO & co-Founder, and the smartTrade management team will remain invested in the business alongside Hg. smartTrade…
Midwich acquires Starin Marketing for $46.1 million
LONDON: Midwich Group Plc has acquired the entire issued share capital of Starin Marketing, a specialist value-add audio visual (AV) distributor in the US for an enterprise value of up to $46.1 million (£35.7m), consisting of a $27.1 million (£21.0m) cash consideration and an assumption of up to $19.0 million (£14.7m) in existing debt facilities….
Grieg Seafood takes the next step on its growth journey by acquiring Grieg Newfoundland
OSLO: Grieg Seafood ASA has signed Share Purchase Agreements (SPA) for the acquisition of Grieg Newfoundland AS in Newfoundland, Canada. The Newfoundland project includes exclusivity for salmon farming in Placentia Bay, which has a farmable area bigger than the Faroe Islands. The project currently comprises licenses for 11 sea sites. The project also includes a…
AM Best assigns stable outlook to Kuwait Insurance Company
LONDON: Insurance sector rating agency AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” with stable outlook to Kuwait Insurance Company. The ratings reflect KIC’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, limited business profile…
Huawei global expert speaks out on cybersecurity barriers and needs of organizations
BEIJING: Advocating for uniform standards that support cybersecurity risk mitigation, Huawei joined top government, business, and academic leaders from the Middle East this week at the Global Cybersecurity Forum held in Riyadh, Saudi Arabia. Andy Purdy, Huawei’s Chief Security Officer in the US, attended the forum and stressed the importance of a cooperative approach to…
Commercial Bank of Dubai posts 20.5% growth in net profit
DUBAI: The Commercial Bank of Dubai (CBD) has reported 20.5% increase in net profit to AED 1.4 billion for the 2019 full year. The result was delivered on the back of broad based business improvements aligned with the bank’s strategy. Impairment allowances increased by 6.2% as the bank prudently increased provisions for non-performing loans. Operating…
Cascadura Well test confirms substantial liquids rich gas discovery
CALGARY: Touchstone Exploration Inc. announced that flowback testing of the first stage of the Cascadura-1ST1 well has been completed, confirming that the well is a significant liquids rich natural gas discovery. Paul Baay, President and Chief Executive Officer, commented: “The Cascadura production test results represent a dramatic change for Touchstone, as it confirms the monumental…
GPE signs £450 million ESG-linked revolving credit facility
LONDON: Great Portland Estates (GPE) signed a £450 million ESG-linked unsecured revolving credit facility (RCF) at a headline margin of 90 basis points over LIBOR with a group of five existing relationship banks. The facility has an initial five-year term which may be extended to a maximum of seven years at GPE’s request, subject to…