TODAY'S HEADLINE
THAI LINK ADDS FIZZ TO F&N STAKE OFFER
Reports suggest Bangkok'based TCC may be the mystery buyer  Shares in Fraser and Neave (F&N) and its unit Asia Paci'c Breweries (APB) surged yesterday, with Thai parties emerging as the potential buyers of stakes worth over $2.8 billion in these two companies.

Bloomberg, citing sources, said that TCC Group o'ered to purchase 18.2 per cent of F&N and 7.92 per cent of APB from OCBC Bank and its insurance unit, Great Eastern Holdings (GEH). OCBC and GEH said on Monday that they were approached to sell their stakes, but did not reveal the identity of the interested party.

TCC, linked to Thai billionaire Charoen Sirivadhanabhakdi, controls a stable of 'rms across the property, industrial, 'nance and beverage sectors, including Singapore'listed Thai Beverage Public Company. ThaiBev is best known for Chang Beer but it also produces and distributes non'alcoholic drinks and food. It is not clear how TCC and ThaiBev will structure the potential stake purchases.

Both OCBC's head of group corporate communications Koh Ching Ching and a ThaiBev spokesman declined to comment. News of the Thai interest, which emerged after Singapore's stock market closed, came as a surprise. Market watchers had earlier expected Japan's Kirin Holdings or Heineken from the Netherlands to be the mystery suitor.

During the day, F&N's share price shot up to as high as $8.34 before retreating slightly to end trading at $8.10  '  up 2.5 per cent or 20 cents to reach a record high. More than 5.56 million shares changed hands.

The counter has been climbing in the past few weeks and has put on almost 27.6 per cent since the start of June, when it was priced at just $6.35. APB's share price also jumped yesterday, gaining 6.659 per cent or $2.31 to reach $37. OCBC, too, saw its share price increase 0.763 per cent or seven cents to $9.25.

NEWS BUZZ
Keppel Telecommunications & Transportation (S$1.135) 
Q2 net pro't fell 19.2% fall to $14.25m  
Keppel Telecommunications & Transportation (T&T) posted a 19.2% year'on'year fall in net pro't to $14.25mil for the 2Q ended June 30. Revenue rose 21.9 to $34.6mil. EPS for Q2 dipped 18.8% to 2.6 cents and NAV per share as at June 30, 2012, was 73 cents.

Ascendas Real Estate Investment Trust (S$2.18) 
Q1 Turnover for the period climbed 18.4% to $142m  
Ascendas Real Estate Investment Trust (A'Reit) turnover for the period climbed 18.4% to $142mil from $119.9mil a year back following additional rental from the acquisitions of Cintech I, Cintech II, and Cintech III & IV back in March this year and the completion of two developments, 90 Alps Avenue and FoodAxis@Senoko, in January and February respectively. Consequently, the total amount available for distribution also jumped 16.1% to $76.5mil, translating to a DPU of 3.53 cents (or an annualised distribution yield of 6.5% as of yesterday's closing price).
Interest wise, 68.9% of A'Reit group's interest rate exposure is 'xed with an overall weighted average tenure of 4.6 years remaining (after factoring in the impact of interest rate swaps) as at end'June, while the overall weighted average cost of funds stood at 3.2%.

Gypsum miner Sincap Group  
O'ering 32.5m placement shares at 20 cents each  
Sincap Group, a gypsum mining company in China's Shangdong Province, has launched its IPO for a listing on the Catalist board of the Singapore Exchange. It is o'ering 32.5mil shares  ' comprising 25.5mil new shares and seven million vendor shares ' at 20 cents apiece. The IPO closes at noon on July 23, and trading of shares is expected to begin on July 25. Canaccord Genuity Singapore is the sponsor and placement agent of the IPO.

Source: The Business Times

Source: AmFraser