Edge Invest

NTT DC REIT has successfully renewed the SG1 master services agreement dated March 31 between NTT Global Data Centers SG1 LLP, a wholly-owned subsidiary of NTT DC REIT, and NTT Singapore, an indirect wholly-owned subsidiary of NTT. SG1 is located on 51 Serangoon North Avenue 4.

The renewed SG1 Master Services Agreement delivers a positive rental reversion of about 23% to $474 per kilowatt, compared with the $385 per kilowatt committed under the previous one-year lease.

Amova Asset Management has emerged as a substantial shareholder of Hong Kong-based but Singapore-quoted Valuetronics Holdings.

On March 25, the fund manager paid $719,364.59 for 811,100 shares, which works out to around 88.7 cents per share.

From 19.9 million shares, or 4.85%, Amova now owns just over 20.7 million shares, or 5.05%.

Valuetronics' largest shareholder is chairman and managing director Tse Chong Hing, who owns 18.73%, or around 76 million shares as of June 18 2025.

Choo Chiang Holdings has received approval-in-principle from SGX to move its listing to the mainboard from the Catalist. The company first announced plans to move the listing on March 19. It will next call for an EGM at a date to be determined for shareholders to give their go ahead.

The company was listed back in July 2015.

The closing of the sale of M1 by Keppel to Tuas has been extended due to regulatory reasons, but Lim Siew Khee and Meghana Kande of CGS International do not think the sale will be called off. 

The long-stop date of the sale, announced last August, has been extended to May 21, instead of the original six-month timeline.

The Infocomm Media Development Authority (IMDA) is "weighing all matters in light of the industry consolidation and the critical national infrastructure involved," note the analysts. 

To recap, Tuas, which owns Simba, is listed in Australia.

Syahril Hanafiah of RHB Bank Singapore has initiated coverage of iFast Corp with a "buy" call and $12.20 target price, with a view that this company is a key beneficiary of the growing Asia-Pacific wealth management market. 

"Earnings growth is braced by the scaling up of iFast Global Bank (iGB), stable recurring income from the ePension division, and its well-established wealth management platform business," says Hanafiah.  

TeleChoice International, majority held by an indirect subsidiary of Temasek, is in the running for a data centre project in Malaysia.

According to the company on March 27, together with "certain" consortium partners it did not name, has submitted a proposal to design and build data centre project in Malaysia and they have been shortlisted in a competitive tender process.

"The project represents a material opportunity for the group to participate in digital infrastructure developments in the region," says TeleChoice.

Jaimes Chao of Tickrs Financial Singapore has downgraded his call for Nanofilm Technologies International from "buy" to "hold" along with a lower target price of 65 cents from 75 cents.

In his March 26 note, Chao notes that the company, which provides coating services for consumer electronics and other products, has delivered a "solid operational performance" for its most recent FY2025, with adjusted ebitda up 21.3% yo $62.8 million on the back of $244.6 million in revenue, an increase of 19.7% y-o-y, "modestly" ahead of his estimates.

Analysts have stayed positive on CapitaLand Ascendas REIT after its $1.4 billion plan to acquire three assets, including a data centre in Japan, that is seen to be accretive to its distribution per unit.

To help fund the acquisition, CLAR will be raising some $900 million from other investors and existing shareholders.

"Overall we like this acquisition and see several positives from this move," state Bank of America analysts Donald Chua and Kylie Wan.

UBS has kept its "buy" call for Sats, but with a raised target price for Sats from $3.85 to $4.35, with a view that its global air cargo network business will remain resilient amid uncertainties of economies and trade.

"While near-term macro and geopolitical uncertainties persist, we believe Sats' diversified footprint provides an effective buffer against trade flow disruptions, allowing volumes to be rerouted across regions, even as airspace and supply chains adjust," state analysts Melissa Leong and Rachel Tan.

SAC Capital has issued a non-rated report on Zixin Group, touting its "circular economy" business model that can help insulate the structurally insulates sweet potato-based foodstuffs company from the
intense price wars plaguing downstream other Chinese retail competitors.

Besides its home base Liancheng country of Fujian, the company is setting up a similar sweet potato cultivating and processing ecosystem in Hainan with a landmass five times larger.