SG Market (01 Aug 17)

POSITIVE NEWS
*Vibrant
- 31% owned Vibrant Pucheng acquired a 217,788 sqm land in Chongqing, China, for Rmb176.4m.
- The 50-year leasehold land will be redeveloped into a multi-modal logistics distribution centre, in line with China's "one belt one road initiative" and the Chongqing Connectivity Initiative between Singapore and China.

*Datapulse Technology
- Divesting 15A Tai Seng Drive by granting a 1-month option to a third party, for $53.5m.
- The six-storey industrial building, with production and warehouse areas, spans 15,174 sqm gfa and has remaining lease term of 36 years.
- Group expects to realise net gain of $44.5m upon estimated deal completion on 30 Nov '17.
- Proceeds will be used to acquire a new premise for existing business operations, working capital, and future investment opportunities.

*Azeus
- Secured two IT projects worth HK$19.4m from the Hong Kong government, both involving data migration onto new platforms.
- One of the projects include support & maintenance services for five years following the roll-out.
- This brought Jul '17 order win from the HK government to HK$98.5m, with pipeline extending to 2023.

*Rotary Engineering
- Gasemas, 50%-owned by group's controlling shareholder and chairman Roger Chia and his family, is chartering a double hull oil tanker with cargo capacity of 123,000 m3 from the group.
- The charter is priced at US$15,000/day, for a term of six months commencing 1 Aug '17 and the option for a six-month renewal.
- This is expected to improve group's operating cash flows.

*ValueMax
- Acquiring Heng Leong Pawnshop for $5.3m, (1.24x P/B) to expand its revenue stream.

*Aspen Holdings
- Proposed sale of a 43,560 sf freehold land at Bandar Kassia Batu Kawan, Penang, for RM6.53m.
- The buyer will be developing a petrol kiosk within the township and is expected to complement Aspen's other development projects in the vicinity.
- Group is expected to realise net gain of RM2.9m from the sale.

*A-Smart
- Clinched a $1.2m contract to supply a smart enterprise business solution to a local restaurant chain.
- The contract includes consultancy, maintenance and system licensing for five years.

*QT Vascular
- Begun enrollment in US for its drug-coated peripheral balloon with the intention of obtaining regulatory approval.
- The product is for use in superficial femoral and popliteal arteries.

NEGATIVE NEWS
*Healthway Medical
- Group President, Veronica Chan, has resigned to pursue other interests.
- Resignation comes after the company recently faced liquidity issues in settling overdue payroll and debt obligations.

*P99
- Terminated its proposed acquisition of a United Engineers' unit, UES for $65m.
- As a result, the company will undertake a voluntary liquidation and distribute surplus cash back to shareholders.
- At last update, NAV/share stood at 3.62¢.

*Genting HK
- Issued profit warning, expecting a 1H17 net loss of US$200-220m, excluding the share of results from Travellers Int'l Hotel Group, which owns Resorts World Manila.
- It blames operating losses at Crystal Cruises due to competitive environment, start-up losses in its new German yards and additional depreciation and interest for the new Genting Dream ship for the red ink.

*Other profit warnings
- Heatec Jietong
- GS Holdings
- TPV Technology

NEUTRAL NEWS
*Bukit Sembawang
- Substantial shareholder Aberdeen Global sold 111,100 shares at an average $6.7923 each on 27 Jul.
- The sale via market will pare its stake below the 5% mark from 5.0208% to 4.9779%.