Singapore stocks to watch Monday: Thai Beverage, CapitaLand, First Sponsor, Frasers Logistics

Singapore five-dollar note Photo by Leslie Shaffer

These are the Singapore stocks to watch on Monday 11 June 2018:

Thai Beverage

Thai Beverage said The Capital Group Companies, or CGC, had ceased to be a substantial shareholder, with its deemed interest falling to 4.964 percent from 5.013 percent.

CGC is the parent company of Capital Research and Management Co., or CRMC, a U.S.-based investment management company which manages the American Funds mutual funds, the filing to SGX after the market close on Friday said. CGC and its affiliates don’t hold the ThaiBev shares for their own accounts, it said. They are held under the discretionary investment management of one of CGC’s investment management companies, it said.

CapitaLand

CapitaLand said it bought back 2.003 million shares in the market on Friday at S$3.51 to S$3.52 for a total consideration of S$7.052 million. That brought the number of shares purchased since the April 30, 2018, start date of the buyback mandate to 22.93 million, or 0.55 percent of the issued shares excluding treasury shares, it said in a filing to SGX after the market close on Friday.

First Sponsor Group

First Sponsor Group said its 31.4 percent-owned indirect associate Queens Bilderberg (Nederland) on Saturday entered a conditional sale agreement with Landgoed Oranjewoud Participaties to sell all 18,152 shares of Landgoed Lauswolt to Langoed Oranjewould.

Landgoed Lauswolt owns Bilderberg Landgoed Lauswolt, a 65-room five-star hotel which sits on a parcel of freehold land, it said.

The aggregate purchase price based on the agreed commercial value of the hotel of 6.875 million euros, or around S$10.8 million, it said in a filing to SGX before the market open on Monday. The shares have a nominal value of 1 euro, it said.

The disposal isn’t expected to have a material impact on First Sponsor’s consolidated earnings per share in the current fiscal year, it said.

First Sponsor is an associate of Millennium &  Copthorne Hotels.

Frasers Logistics & Industrial Trust

Frasers Logistics & Industrial Trust said that the152.15 million new units it issued at S$0.967 each will be listed on the main board at 9:00 A.M. SGT on Monday. The equity fundraising’s gross proceeds of S$476.0 million are earmarked to partly to repay a bridge loan and fees and expenses related to the acquisition of interests in 21 properties in Germany and the Netherlands, it said in a filing to SGX before the market open on Monday.

Frasers Property

Frasers Hospitality opened the Fraser Place Binhai Tianjin on Friday, marking its second property in Tianjin as the company’s Frasers Hospitality continues to expand in China. Frasers Hospitality currently has 16 properties in 11 Chinese cities, with another 16 in the pipeline, it said in a filing to SGX after the market close on Friday.

“China’s huge population and rising consumption power coupled with its self-contained and self-sustaining economy make it an attractive market. The rise of Chinese millennials is also driving growth,” Choe Peng Sum, Frasers Hospitality CEO, said in the statement.

Frasers Hospitality has seen a 10 percent increase in the number of room nights booked by Chinese travelers from fiscal 2016 to fiscal 2017, the filing said.

Addvalue Technologies

Addvalue Technologies said it began the maiden supply of its proprietary software defined radio (SDR) radio communication module through a contract with a government agency.

The company said in a filing to SGX on Saturday that it expected the government agency to make a repeat order of the module, even though it hasn’t yet closed out the current order. Including the repeat order, the total value of the SDR module to the agency is a total S$1 million, with the full order expected to be completed this financial year, it said.

Spackman Entertainment

Spackman Entertainment said it would enter the Korean drama series production business, starting with the co-production of “Terius Behind Me,” to be released in September. The TV drama will feature So ji-sub, who is represented by Fiftyone K, a talent management agency under the company’s 41.28 percent owned associate Spackman Media Group Ltd. (SMGL), the company said in a filing to SGX after the market close on Friday.

“Starting with Terius Behind Me, we expect to increase our drama production pipeline to add to our movie production business,” interim CEO Richard Lee said in the statement. “Moreover, Terius Behind Me is another example of how the group is constantly pursuing unique opportunities to collaborate strategically with SMGL.”

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