Singapore stocks to watch Tuesday: Yangzijiang, Oxley, MLT, Olam, CapitaLand

Singapore two-dollar bills

These are the Singapore stocks in focus on Tuesday 5 June 2018:

Yangzijiang Shipbuilding

Yangzijiang Shipbuilding said it secured nine effective orders in May, with a total contract value of US$578 million. That included five units of 12,000 TEU container ships, two units of 208,000 DWT bulk carriers and two units of 82,000 DWT bulk carriers, it said in a filing to SGX on Monday after the market close.

The nine contracted vessels are scheduled for deliveries in 2020 and 2021, it said. They won’t have any significant impact on earnings in the current financial year, it said.

That brought year-to-date new orders to US$846 million, for a total of 18 vessels, it said.

In April and May, the company delivered 18 vessels, it said.

Oxley Holdings

Oxley Holdings said that the property development project Affinity at Serangoon has sold 112 units out of the 300 launched in phase one over the June 2-3 weekend. The units’ average selling price was S$1,575 per square foot, with the units sold spread evenly across all unit types, Oxley Holdings said in a filing to SGX after the market close on Monday.

It said 80 percent of the buyers were Singaporeans, with the remaining 20 percent permanent residents and foreigners.

The project was launched by Oxley with three joint-venture partners via the en-bloc purchase of the former HUDC estate Serangoon Ville, it said. Oxley has a 40 percent stake in the project, it said.

“We saw strong demand from former Serangoon Ville residents who are keen to live in their familiar area, and now also have the purchasing power to upgrade,” Ching Chiat Kwong, executive chairman and CEO, said in the statement.

Mapletree Logistics Trust

Mapletree Logistics Trust said the 183.792 million new units it placed at an issue price of S$1.197 each will be issued on Tuesday and begin trading at the market open.

The total number of units will rise to 3.24 billion after the issuance, the REIT manager said in a filing to SGX before the market open on Tuesday. The new units won’t be entitled to the advanced distribution paid for the April 1 to June 4 period, it said.

CapitaLand

CapitaLand said that BlackRock’s deemed interest in its shares slipped to 5.99 percent from 6 percent. PNC Financial Services, which holds more than 20 percent of BlackRock, also saw its deemed interest fall to 5.99 percent from 6 percent.

CapitaLand Mall Trust

CapitaLand Mall Trust said BlackRock’s deemed interest in the trust increased to 7.12 percent from 6.9 percent last week. PNC Financial Services, which holds more than 20 percent of BlackRock, also saw its deemed interest rise by the same percentages, the trust manager said in a filing to SGX after the market close on Monday.

Olam

Olam said it acquired all of Ruyat Oil for an aggregate consideration of US$4.4 million. Nigeria-based Ruyat is mainly involved in sourcing crude vegetable oil and refining and marketing of refined, bleached and deodorized Olein, Olam said in an SGX filing after the market close on Monday.

Olam said the deal wasn’t likely to materially impact earnings per share in the current fiscal year.

Venture Corp.

Venture Corp. said BlackRock became a substantial shareholder, with its deemed interest rising to 5.22 percent from 4.85 percent.

StarHub

StarHub said BlackRock ceased to be a substantial shareholder, with its deemed interest falling to 4.99 percent from 5.17 percent.

Perennial Real Estate Holdings

Perennial Real Estate Holdings said its wholly owned subsidiary Perennial Xi’an Development 2 has entered a deal to buy 14.7 percent of Xi’an Perennial Cheng Tou East Real Estate for a consideration of 90 million yuan, or around S$18.8 million. Perennial Xi’an Development 2 already holds 51 percent of Xi’an Perennial East, the company said in an SGX filing after the market close on Monday.

Xi’an Perennial East is developing plot five at Xi’an North HSR Integrated Development, with construction targeted for completion in 2020, it said.

Yoma Strategic

Yoma Strategic said in an SGX filing after the market close on Monday that Nordea Investment Management ceased to be a substantial shareholder, with its deemed interest falling to 4.9343 percent from 5.0534 percent.

Accordia Golf Trust

Mitsubishi UFJ Financial’s deemed interest in Accordia Golf Trust rose to 5.2609 percent from 4.9379 percent, the trust manager said in a filing to SGX after the market close on Monday. That was due to Morgan Stanley, which is more than 20 percent owned by Mitsubishi UFJ, increasing its interest, it said.

In a separate filing, the trust manager said Morgan Stanley Capital Management’s deemed interest fell to 4.982 percent from 5.0341 percent, and Morgan Stanley Domestic Holdings’ deemed interest fell to 4.9815 percent from 5.0336 percent. Morgan Stanley & Co.’s deemed interest fell to 4.9815 percent from 5.0336 percent, it said.

Morgan Stanley & Co. is a subsidiary of Morgan Stanley Domestic Holdings, which itself is a subsidiary of Morgan Stanley Capital Management, the filing said.

 

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