Singapore stocks to watch Monday: CapitaLand, Jinjiang Environment, APAC Realty, CCT

Singapore’s Marina Bay SandsSingapore’s Marina Bay Sands

These are the Singapore stocks in focus on Monday 4 June 2018:


CapitaLand said Lim Ming Yan, president and group CEO of the company, has given notice to the board that he plans to retire, with his last date of service on December 31.

Lim, who took on his current roles in 2013, will remain in his positions until the retirement takes effect and a new CEO will be announced when the appointment is made, the company said in a filing to SGX after the market close on Friday. Lim joined the company in 1996, it said.

China Jinjiang Environment

Chinese waste-to-energy operator China Jinjiang Environment said its Indonesia subsidiary acquired a 95 percent stake in PT Indo Green Power, or IGP, which has a concession to construct, own and operate a waste-to-energy facility in Palembang, Indonesia.

The facility, the Palembang Project, will have a total installed waste-treatment capacity of 1,000 tons a day and IGP has an exclusive right to provide waste-treatment services in a defined area of Palembang for 30 years after the project begins commercial operation, Jinjiang Environment said in an SGX filing after the market close on Friday.

The total investment for the Palembang Project is estimated at around US$120 million, or around S$160.5 million, it said, adding it will be funded via internal resources, bank borrowings and/or future equity or debt fund-raising.

IGP will have an issued capital of 25 billion rupiah, and Jinjiang Environment Indonesia will contribute 23.75 billion rupiah, or around S$2.3 million, for its 95 percent stake, the filing said.

“With Palembang being the largest port and trade center in South Sumatra, and the ninth most populous city in Indonesia, the market potential for waste treatment is significant,” the company said in the filing.

It added that the move is part of its overseas expansion, which has included three projects in India, secured in 2017, a move into Germany and a stake in a Brazil project.

APAC Realty and PropNex Realty

PropNex Realty plans to raise around S$40 million from a proposed IPO in Singapore, Bloomberg reported on Friday, citing people with knowledge of the matter. PropNex, which Bloomberg said is Singapore’s largest property brokerage by salesforce, could launch the offering as soon as this week and list as early as end-June, one of the sources said, according to the report.

The potential listing could challenge the scarcity value of smaller rival APAC Realty’s shares on SGX.

CapitaLand Commercial Trust

Singapore wealth fund Temasek’s deemed interest in CapitaLand Commercial Trust has fallen to 31.24 percent from 32.36 percent, according to a filing to SGX after the market close on Friday.

The change was due to CCT issuing 130 million new units as part of a private placement, it said. Temasek does not have a direct interest in CCT and its deemed interest is through its holdings of CapitaLand, DBS and Keppel Corp., it said.

In a separate filing, CapitaLand said its deemed interest in CCT fell to 30.2 percent from 31.1 percent after the private placement.

Genting Singapore

Genting Singapore said Singapore’s Accounting and Corporate Regulatory Authority (ACRA) has approved its application to transfer its registration to the city-state from the Isle of Man. The change took effect on June 1, the company said in a filing to SGX on Friday after the market close.

The company’s name has changed from Genting Singapore PLC to Genting Singapore Limited as of Friday, it said.

Sembcorp Marine and Sembcorp Industries

Sembcorp Industries’ direct interest in Sembcorp Marine slipped to 60.9966 percent from 61.0046 percent on May 24, according to an SGX filing on Friday after the market close. The decline was due to the transfer of treasury shares under SembMarine’s share plans, the filing said.

Sembcorp Industries said the discrepancy between when its holding changed and it becoming aware of the change on May 31 was due to the notice from SembMarine, which came via email, being overlooked, according to the filing.

Accordia Golf Trust

Morgan Stanley became a substantial shareholder in Accordia Golf Trust, with its deemed interest rising to 5.2609 percent from 4.9379 percent last week, according to a filing to SGX after the market close on Friday. That was due to its controlling interest in a company which has an interest in the units, it said.

The deemed interest in Accordia Golf Trust of Morgan Stanley Capital Management, a subsidiary of Morgan Stanley, rose to 5.0341 percent from 4.7111 percent, the filing said.

Morgan Stanley Domestic Holdings, a subsidiary of Morgan Stanley Capital Management, said its deemed interest in Accordia Golf Trust rose to 5.0336 percent from 4.7106 percent, the filing said.

The deemed interest in the trust of Morgan Stanley & Co., a subsidiary of Morgan Stanley Domestic Holdings, rose to 5.0336 percent from 4.7106 percent, according to the filing.

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