RGD Completes Draco Acquisition as Markets End Year on Firm Footing
Catalist-listed Resources Global Development (RGD) announced in a bourse filing on Dec 26 that it has completed the acquisition of Draco Investment Holdings from Southeast Earnest Investment (SEI) for US$1.3 million. The purchase consideration was determined on a willing-buyer, willing-seller basis.
On a pro forma basis for FY2024 ended Dec 31, RGD’s net tangible asset per share is expected to decline by 0.1 cent, or 0.8%, from 13.0 cents to 12.9 cents. Earnings per share remain unchanged at 2.1 cents. For the half-year ended June 30, net profit attributable to the assets acquired or disposed of, relative to the Group’s net profit, is projected to decrease by 3%.
Separately, Keppel Data Centre Campus has obtained conditional approval for a 10-year lease extension, while Vibrant Group acquired an additional RMB23.37 million of debt from China Railway Construction Engineering. Serial Achieva Limited also completed the striking off of its Achieva Tech Allianz joint venture in 2025.
In Japan, Yamada Green Resources completed the acquisition of land and buildings in Toyonaka City, Osaka, supported by a JPY120 million loan approval. Samudera Shipping Line invested S$7.3 million in an EKH convertible note to support strategic growth in container logistics. Frasers Property announced capital injections into its BetterBe Marketplace joint venture with ThaiBev and SCG Marketplace, while GDS Global Limited proposed the placement of 60 million new shares at S$0.068 each and received SGX-ST listing approval.
U.S. equities ended the week higher following the Christmas holiday, although gains moderated on Friday. The S&P 500 slipped 0.03% to close at 6,929.94 after hitting a new intraday record, while the Nasdaq and Dow fell 0.09% and 0.04%, respectively. For the week, the S&P 500 gained 1.4%, marking its fourth advance in five weeks, with the Dow and Nasdaq also rising more than 1%. Trading volumes were subdued amid limited economic and earnings catalysts, with investors focusing on technical factors and positioning. Strategists highlighted improving market breadth, driven by financials and industrials rather than technology, alongside supportive year-end seasonality, recent tax measures, and rate cuts heading into 2026.
Meanwhile, the proposed acquisition of CKH Holdings’ port business by a consortium led by BlackRock and Mediterranean Shipping Company (MSC) faces uncertainty. Reports indicate the deal could unravel if COSCO Shipping insists on a majority stake after joining the consortium. In March, CKH announced plans to sell 43 ports across 23 countries, including two along the Panama Canal. While the transaction received backing from U.S. President Donald Trump, it drew objections from China, prompting COSCO Shipping’s inclusion to facilitate regulatory approval. Negotiations remain ongoing, with any agreement contingent on improving Sino-U.S. relations.
In China, Biocytogen-B surged more than 20% after being added to the Southbound Stock Connect. Separately, the People’s Bank of China announced arrangements to implement a one-time credit repair policy covering individual overdue amounts below RMB10,000 incurred between Jan 1, 2020 and Dec 31, 2025. Borrowers who fully repay by Mar 31, 2026 can avoid negative credit reporting. Analysts expect the policy to release pent-up financing demand, supporting growth in consumer loans, mortgages and business loans, while improving asset quality across Chinese banks, particularly major state-owned and leading joint-stock lenders.
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