{"id":75301,"date":"2017-12-27T10:05:50","date_gmt":"2017-12-27T03:05:50","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-group-targets-128-84mil-in-property-investments\/"},"modified":"2017-12-27T11:03:22","modified_gmt":"2017-12-27T04:03:22","slug":"singhaiyi-group-targets-128-84mil-in-property-investments","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-group-targets-128-84mil-in-property-investments\/","title":{"rendered":"SingHaiyi Group targets $128.84mil in property investments"},"content":{"rendered":"


\nSingapore-listed SingHaiyi Group plans to raise net proceeds of up to about $143.16 million out of maximum gross proceeds of around $143.51 million, revealed an SGX filing on Monday (26 December).
\nIt intends to use $14.32 million to $42.95 million out of the net proceeds for general corporate and working capital purposes, while $100.21 million to $128.84 million will be utilised for real estate investments.
\nThis will be achieved through the issuance of up to about 1.44 billion new SingHaiyi ordinary shares for $0.10 apiece. This represents a discount of approximately 16.7 percent to the company\u2019s closing price of $0.12 during the announcement date on Monday. It also translates to an 11.8 percent discount to its theoretical ex-rights price of $0.113 per share.
\nIn addition, Haiyi Holdings, which holds a 56.17 percent stake in the firm, has made an irrevocable undertaking to subscribe for its pro rata entitlement of 806.18 million rights shares as well as all those in excess of the provisional allotments in the issuance.
\n\u201cBecause of the irrevocable undertaking and the savings in costs for the company as a result of not having to bear any underwriting fees, SingHaiyi has decided to proceed with the rights issue on a non-underwritten basis,\u201d it said in a statement.
\nPursuant to the issuance, wherein the exact date has yet to be announced, it has appointed United Overseas Bank (UOB) to manage the exercise.
\n\u201cThe company will be making an application to the SGX-ST for dealing, listing and quotation, of the rights shares on the main board. An appropriate announcement will be made in due course when the firm receives the approval in-principle for the dealing, listing and quotation of the shares,\u201d it added.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…SingHaiyi Group targets 8.84mil in property investments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore-listed SingHaiyi Group plans to raise net proceeds of up to about $143.16 million out...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-75301","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-jAx","jetpack-related-posts":[{"id":55807,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-posts-strong-fy2017-net-attributable-profit-despite-lower-revenue\/","url_meta":{"origin":75301,"position":0},"title":"SingHaiyi posts strong FY2017 net attributable profit despite lower revenue","date":"May 24, 2017","format":false,"excerpt":"\r Sales of completed units from its commercial condominium project in US, Vietnam Town (pictured), contributed to SingHaiyi\u2019s revenue in FY2017. (Image: SingHaiyi Group) Despite an 83.6 percent drop in revenue, SingHaiyi Group saw its net attributable profit for the financial year ended 31 March 2017 increase by 6.1 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":73203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-sun-park-sold-for-81-09mil\/","url_meta":{"origin":75301,"position":1},"title":"How Sun Park sold for $81.09mil","date":"November 29, 2017","format":false,"excerpt":"\r How Sun Park, a freehold three-storey development comprising 20 units, has been sold for $81.09 million to a SingHaiyi Group subsidiary, SingHaiyi Huajiang Amber Pte. Ltd. The property has a site area of around 5,104.3 sq m and a gross plot ratio of 1.4. Inclusive of an estimated development\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-reports-robust-financial-results\/","url_meta":{"origin":75301,"position":2},"title":"SingHaiyi reports robust financial results","date":"February 4, 2019","format":false,"excerpt":"\r The Group acquired the Sun Rosier condominium off Bartley Road for $271 million in 2017. (Photo: Google Maps) The value of SingHaiyi Group\u2019s development properties nearly doubled from $268.5 million as of 31 March to $525.8 million as at 31 December last year, according to the developer\u2019s latest financial\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76392,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/park-west-condo-sold-en-bloc-for-840-89m\/","url_meta":{"origin":75301,"position":3},"title":"Park West condo sold en bloc for $840.89m","date":"January 12, 2018","format":false,"excerpt":"\r Third time\u2019s a charm. The owners of Park West have finally succeeded in selling the condominium via collective sale after two previous attempts which ended in failure. According to an SGX filing on Thursday (11 January), the residents accepted an $840.89 million offer from SingHaiyi Gold Pte Ltd, a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107401,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-net-profit-rose-47-6-in-q4\/","url_meta":{"origin":75301,"position":4},"title":"SingHaiyi net profit rose 47.6% in Q4","date":"May 23, 2019","format":false,"excerpt":"\r The real estate group\u2019s board has proposed a final dividend of 0.15 Singapore cent per share, subject to shareholders\u2019 approval at an upcoming annual general meeting.\u00a0 SingHaiyi saw its net profit jump 47.6 percent to $9.7 million for the three months ended 31 March 2019 (Q4 FY2019). Revenue, however,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112196,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singhaiyi-post-4-6m-loss-in-q2\/","url_meta":{"origin":75301,"position":5},"title":"SingHaiyi post $4.6m loss in Q2","date":"November 7, 2019","format":false,"excerpt":"\r The loss comes as the property developer witnessed poor revenue recognition at several projects as well as higher finance cost during the period under review. SingHaiyi Group registered a net loss of $4.6 million for the second quarter ended 30 September, from a net profit of $7.7 million over\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/75301"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=75301"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/75301\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=75301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=75301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=75301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}