Rowsley Ltd

Rowsley Ltd

Postby winston » Mon Mar 05, 2012 12:56 pm

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Singapore Hot Stocks-Rowsley jumps on UPP stake sale

SINGAPORE, March 5 (Reuters) - Shares of Singapore's Rowsley Ltd surged as much as 31 percent on Monday after the oil recycling and renewable energy firm said it agreed to sell shares and warrants in UPP Holdings Ltd for S$22.1 million ($17.7 million).

By 9:16 a.m. (0116 GMT), Rowsley shares were up 27.5 percent, outperforming the broader Straits Times Index <.FTSTI>, which was 0.1 percent higher. UPP shares were 4.6 percent higher.

"Both the stocks are up because Rowsley will have the cash proceeds from the sale, while for UPP the sale means that they will have a new big shareholder," a local trader said.

UPP provides management services and trades paper products.

Rowsley's subsidiary SSP Innovations Pte Ltd agreed to sell 108.1 million shares in UPP to Singapore broker UOB Kay Hian Private Ltd -- amounting to 18.56 percent of UPP's issued share capital -- at S$0.17 each.

Rowsley also disposed of 53.6 million warrants due in March 2013 issued by UPP at S$0.07 apiece.

The disposal is expected to raise Rowsley's basic earnings per share and net tangible asset per share, it said in a stock filing.

Source: Reuters
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Re: Rowsley Ltd

Postby winston » Mon Dec 24, 2012 8:57 am

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Rowsley, an investment holding company controlled by Singapore billionaire Peter Lim, announced on Friday a S$581 million ($475.9 million) deal that will transform it into a property player in Malaysia's Iskandar region.

Rowsley will acquire RSP Architects Planners and Engineers for up to S$223 million, to be paid by the issue of Rowsley shares at S$0.15 each.

Rowsley has also entered into a term sheet with Vantage Bay Sdn Bhd to buy 9.23 hectares land at Iskandar for S$358 million.

Source: Reuters
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Re: Rowsley Ltd

Postby winston » Wed Dec 26, 2012 10:35 am

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Rowsley in two deals worth up to $581m by Ong Chor Hao

Monday, Dec 24, 2012

SINGAPORE - Investment firm Rowsley, controlled by billionaire Peter Lim, is set to transform itself into a real estate player, after announcing two deals worth up to $581 million that will see it divest its current holdings if they go through.

Rowsley entered into non-binding term sheets yesterday in a reverse takeover (RTO) deal to acquire RSP Architects Planners & Engineers for up to $223 million, as well as to purchase 9.23 hectares of land in Iskandar, Johor for $358 million from Malaysia's Vantage Bay Sdn Bhd. The RTO deal will see RSP listed on Singapore Exchange through Rowsley.

Both acquisitions will be satisfied by Rowsley issuing shares to the respective vendors at 15 cents each, and are subject to due diligence and further definitive agreements.

This is a slight premium to the last traded price of 14.1 cents. The counter was halted for trading yesterday.

Said Ho Tat Kin, Rowsley's executive chairman: "The proposed transactions, when completed, will create new value for shareholders, transforming Rowsley from an investment holding company into a major real estate player in the fast emerging Iskandar region."

Speaking at a press conference with senior executives from the parties involved, Dr Ho added that the deals will raise Rowsley's profile and generate investor interest.

Rowsley has swung between losses and gains in the previous five financial years. It reported losses in the first two quarters of the current financial year.

In 2007, the company's reverse takeover deal with a China solar company failed to materialise. It was called off after months of delays stemming from the Chinese company's inability to meet certain conditions.

TThrough the RTO deal, RSP will become the second building design and engineering firm to list on Singapore Exchange (SGX). The first was Sabana Shari'ah Compliant Industrial Real Estate Investment Trust.

Dr Ho believes the RSP deal to be mutually beneficial.

The addition of RSP will allow Rowsley to get up to speed with its development plans in Malaysia, he said. Meanwhile, RSP will enjoy a strong pipeline of design and engineering projects from Rowsley.

Albert Hong, chairman of RSP and a noted businessman, said the firm will continue to be run by its current management if the deal goes through.

"There will be little change operationally," he said.

Dr Hong owns 64.5 per cent of the architecture firm. The other shareholders are Lee Kut Cheung and Lai Huen Poh with 12.5 per cent each, as well as Liu Thai Kher and Hud Abu Bakar, who own 7.5 per cent and 3 per cent respectively.

Asked why it chose to list in this manner, Mr Lai, a managing director at RSP, said it was a "synergistic development" given that Rowsley's supply of land in Iskandar would expand its long-term earnings.

Dr Hong said discussions with Mr Lim started sometime this year. RSP and Rowsley clarified that these were at a personal level and that the boards did not know of the possibility of the deal until recently.

Referring to Mr Lim as a friend of over 20 years, Dr Hong shared that he had consulted him over RSP's failed bid to list on SGX in 1995.

For the plot of land in Iskandar, Rowsley will purchase it from Vantage Bay, a joint venture 70 per cent owned by Mr Lim. The Johor royal family owns the remaining stake.

Ho Kiam Kheong, CEO of Best Blend, the special vehicle for the venture, said the price paid works out to about RM82 ($33) per square foot per plot ratio. The land has a gross floor area of at least 10 million square feet.

It will be developed as an integrated mixed-use township comprising malls, homes and offices, and sits just a few hundred metres from the new customs building in Johor.

The land being sold is part of a bigger plot owned by Vantage Bay. The remaining area will be the site of a medical hub.

This is Mr Lim's second development in Iskandar. He is also building a motorsports hub in another part of Iskandar near the Second Link with Khazanah-backed UEM Land.

Should the deals go through, Rowsley will issue two free warrants for each share for existing shareholders, at a strike price of 18 cents. These can be exercised six months from their listing on SGX, for three years after that.

Chang See Hiang, senior partner at Chang See Hiang & Partners, the legal adviser for the deal, said Rowsley can raise over $350 million if all the warrants are exercised.

He expects up to six weeks for definitive agreements to emerge after due diligence, and up to seven months after that for the deals to be finalised due to the many conditions attached to them.

Both deals will require approval from shareholders and SGX.

Mr Lim is expected to remain the biggest shareholder in Rowsley with around 40 per cent of the stake following the completion of the deals.


Source: The Business Times
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Re: Rowsley Ltd

Postby winston » Mon Feb 04, 2013 10:03 am

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Rowsley: Seals deals to acquire RSP, land.

Rowsley has sealed the two deals it needs to transform into a property player, a move that comes after it made known in Dec 12 plans to acquire RSP Architects Planners & Engineers and a 9.23 ha plot of land in Iskandar in Johor.

The Business Times
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Re: Rowsley Ltd

Postby winston » Mon Feb 04, 2013 10:33 am

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Rowsley has signed the sale and purchase agreements to acquire RSP Architects Planners & Engineers, Singapore’s leading architecture practice, in an all-share deal for $187m via the issue of up to 1.25 billion Rowsley shares at 15 cents a share.

It will also acquire the Iskandar-located plot of land from Malaysia's Vantage Bay in an all-share deal for $358m by issuing 2.4 billion shares.

To reward existing shareholders, Rowsley said that it will issue a free bonus of two warrants for every existing share held, once all the necessary shareholder and regulatory approvals for the deals are received.

Each warrant will have an exercise price of 18 cents per share.

Source: DBS
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Re: Rowsley Ltd

Postby winston » Tue Aug 23, 2016 4:17 pm

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July 25, 2016

Rowsley's 2Q16 revenue increased 26% YoY to S$22.3m, while PATMI slipped from a profit of S$0.5m in 2Q15 to a loss of S$5.5m for the current quarter.
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Re: Rowsley Ltd

Postby winston » Tue Aug 23, 2016 4:17 pm

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July 25, 2016

Rowsley's 2Q16 revenue increased 26% YoY to S$22.3m, while PATMI slipped from a profit of S$0.5m in 2Q15 to a loss of S$5.5m for the current quarter.
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Re: Rowsley Ltd

Postby winston » Tue Aug 23, 2016 4:18 pm

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Feb 25, 2016

Rowsley falls into S$36.1m FY15 loss amid heavy impairments
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Re: Rowsley Ltd

Postby winston » Tue Aug 23, 2016 4:25 pm

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Oct 19, 2013

Rowsley hit by penny stock jitters

Punters disappointed that recent deals have failed to lift the counter

By Goh Eng Yeow

PUNTERS were disappointed that Rowsley, the firm controlled by former "remisier king" Peter Lim, failed to get much of a lift despite sealing two deals that will turn it into a big Malaysian property play.

Instead, the stock has been drifting downwards following the deals in recent weeks.

One move was to acquire RSP Architects Planners & Engineers, headed by businessman Albert Hong.

The other involved buying 9.2 ha of land in Johor Iskandar belonging to a 70:30 joint venture between Mr Lim and the Johor royal family. Both transactions were completed nearly four weeks ago.

From a high of 65.5 cents three weeks ago, Rowsley slid to 56.5 cents before dropping 41 per cent to 33.5 cents a week later after adjusting for the 3.275 billion new shares it had issued at 15 cents apiece to pay for the acquisitions.

After that low, it inched up to 36 cents before tumbling 7.5 per cent this week to close at 31 cents yesterday.

This is despite the spate of positive publicity it has attracted after unveiling details of its RM5.5 billion (S$2.2 billion) residential project in Johor.

Traders have offered a variety of reasons for the stock's lacklustre performance of late after what had been a good year for the counter.

While Rowsley can give itself a pat on the back for completing its transformation into a property play, sentiment in the wider market has soured considerably.

This was because of the massive sell-off in those other market darlings Blumont, LionGold and Asiasons, all down more than 90 per cent in two weeks.

One dealer said: "Traders who had bought into Rowsley may also have exposure to counters such as Blumont. It would not be surprising if they dump Rowsley to pay for their losses in other counters."

That said, Rowsley had surged about 5.7 times in price after traders ploughed into the counter since the firm announced the two deals in December.

Given the jitters over the other counters that had also enjoyed spectacular run-ups, some believe that the hype on Rowsley may be over for now.

"It may well turn into a fairly quiet and slow trading stock," said another dealer.

Dealers suggested that another reason for the modest play in Rowsley was the switch in traders' interest to the warrants that were issued to existing shareholders as part of the package to complete the two acquisitions.

Rowsley gave two free warrants for every share held by its investors. Each warrant gives its holder the right to buy one Rowsley share at 18 cents over the next three years.

"With 1.9 billion warrants in the market, punters who want exposure to Rowsley's Iskandar play may decide on the warrants rather than the mother shares," said a dealer.

Rowsley warrants ended 0.2 cent up at 12.3 cents yesterday.
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Re: Rowsley Ltd

Postby winston » Tue Aug 23, 2016 4:28 pm

JUNE 03, 2014

Valencia's old stadium excites Rowsley

With Peter Lim's takeover of club, firm has a shot at redevelopment

by BYANITA GABRIEL

SINGAPOREAN magnate Peter Lim's takeover victory of Spanish football club Valencia could potentially give Rowsley, a Singapore-listed firm he controls, a clear shot at redeveloping the old stadium which sits on prime land.

Rowsley chief executive officer Lock Wai Han told BT in an interview - his first since he took over Rowsley's helm six months ago - that the firm is indeed eyeing several openings that have arisen now that one of Europe's top football clubs is in Mr Lim's bag.

Top on Rowsley's wish list is to get a stab at redeveloping Valencia's old 55,000-seat Mestalla stadium, dubbed one of Europe's greatest stadiums and located in the dense neighbourhood close to the historic city centre or in real estate speak, "prime land".

"We see consultancy and real estate opportunities that may open up for us, so we are submitting a proposal (to Mr Lim) for a feasibility study to get involved in the project," said Mr Lock.

Source: Business Times
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