Hotels, Resorts and Cruise Lines

AF Global

AF Global released FY2025 Q1 earnings on August 8 (SGT), actual revenue SGD 7.89 M, actual EPS SGD 0.0007

AF Global released FY2025 Q2 earnings on August 8, 2025 (SGT) with actual revenue of SGD 7.89M and EPS of SGD 0.0007

AF Global released FY2025 Semi-Annual earnings on August 8, 2025, post-market (SGT), with actual revenue of SGD 15.78 M and actual EPS of SGD 0.0014.

AF Global released FY2024 9 Months Earnings on February 24, 2025 (SGT) with actual revenue of 23.73 M SGD and EPS of -0.0025 SGD

AF Global released FY2024 Q4 earnings on February 24 (SGT), with actual revenue of 7.697 M SGD and EPS of 0 SGD

AF Global released FY2024 Q3 earnings on February 24 (SGT), with actual revenue of 7.697 M SGD and EPS of 0 SGD

AF Global released FY2024 Annual Earnings on February 24, 2025 (SGT) with actual revenue of 31.42 M SGD and EPS of -0.0025 SGD

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Auto dealers at Automobile Megamart in Singapore have submitted S$68 million to the Singapore Land Authority to renew their lease, which is set to expire on July 18. The payment was made ahead of the final deadline, and if approved, the lease will be extended until 2040. The renewal process required unanimous agreement from over 70 sole proprietors, representing around 120 showrooms. The building, opened in 2000, is the largest used-car center in Singapore.

Businesstimes News

Car dealers submit S$68 million for renewal of Automobile Megamart’s lease

AF Global, a hospitality company listed on the Singapore Exchange, is set to delist around April 24 following a court-sanctioned scheme to privatize the business. The last trading day for its shares will be April 2, with suspension starting April 6. Shareholders are expected to receive S$0.11 per share in cash around April 23, with the books closure on April 14 at 5 pm. AF Global's shares last traded at S$0.109 on March 31.

AF Global expected to delist around Apr 24

A consortium led by Aspial Corp and Koh Wee Meng has initiated a bid to privatize AF Global, offering 11 cents per share for the remaining 27.35% stake, totaling approximately $31.8 million. Aspial holds a 41.75% stake, while Koh owns 30.91%. The move aims to provide management with more flexibility and reduce costs associated with being listed, as AF Global has not raised funds through equity markets since 2010. The offer represents a 23.6% premium over the last closing price of 8.9 cents, and AF Global shares rose to 10.9 cents following the announcement.

Straitstimes

Aspial

Fragrance Group tycoon Koh Wee Meng, Aspial launch bid to take AF Global private

AFG Investment Pte. Ltd. has proposed to acquire all issued ordinary shares of AF Global Limited, excluding certain shares, through a scheme of arrangement. This strategic acquisition could influence AF Global's operations and market positioning, especially as it plans to divest from real estate consultancy services. AF Global, listed on the Singapore Exchange since 1973, primarily operates in the hospitality sector and holds interests in property investment and development.

Tip Ranks

AFG Investment Proposes Acquisition of AF Global Limited

AF Global Limited is encountering difficulties in liquidating its joint venture investment in Xuzhou, China, with multiple auction attempts failing to attract bids. The company is contemplating further auctions at increased discounts, which could affect the recoverability of the investment valued at $35,855,000 as of June 2025. The Board is committed to exploring options to enhance capital efficiency within its portfolio. AF Global Limited, based in Singapore, focuses on real estate asset and investment management.

AF Global Limited Faces Challenges in Xuzhou Investment Liquidation

AF Global(L38.SG)

Car dealers submit S$68 million for renewal of Automobile Megamart’s lease

AF Global expected to delist around Apr 24

Fragrance Group tycoon Koh Wee Meng, Aspial launch bid to take AF Global private

AFG Investment Proposes Acquisition of AF Global Limited

AF Global Limited Faces Challenges in Xuzhou Investment Liquidation