Singapore stocks to watch Wednesday: SembMarine, Ezion, HPHT, Venture, Sembcorp

Singapore one dollar bill

These are the Singapore stocks in focus on Wednesday 13 June 2018:

Sembcorp Marine

Sembcorp Marine subsidiary LMG Marin secured its first polar-expedition cruise-ship design contract from Croatia-based Brodosplit Shipyard, the company said in a filing to SGX after the market close. The ship will be build for Quark Expeditions, which specializes in expeditions to the Arctic and Antarctic, it said. Completion was expected by the third quarter of 2020, it said.

The vessel will be 128 meters in length and have a capacity of 200 passengers and 116 crew members, as well as top-deck infrastructure for two helicopters, cabins with large windows or private balconies, a spa and wellness area and two restaurants, it said.

The value of the contract wasn’t provided.

Ezion

Ezion said on Wednesday its convertible bonds due 2023 and its subordination perpetual securities converted to ordinary shares at a discounted price of S$0.2487.

Hutchison Port Holdings Trust

Singapore wealth fund Temasek’s deemed interest in Hutchison Port Holdings Trust increased to 12.09 percent from 11.47 percent, the trust manager said in a filing to SGX after the market close on Tuesday.

Temasek does not have any direct interest in the units, with its deemed interest in HPHT coming via its deemed interest in DBS Group, PSAI and the Dymon Fund, the filing said.

Venture Corp.

Venture Corp. said it bought back 11,000 shares in the market on Tuesday at S$20.65 a share for a total consideration including other costs of S$227,678. That brought the number of shares it has purchased to 364,000, or 0.1266 percent of the total issued shares excluding treasury shares since the buyback mandate began in April, the company said in a filing to SGX after the market close on Tuesday.

Sembcorp Industries

CRE Asia has completed its subscription to shares of Sembcorp Infra Services (SIS), Sembcorp Industries said in a filing to SGX after the market close on Tuesday. The new shareholding structure means that Sembcorp Development will hold 70 percent of SIS, while CRE Asia will hold the remaining 30 percent, it said.

In May, it was announced that SIS, which is a subsidiary of Sembcorp Industries’ wholly owned unit Sembcorp Development, entered a deal for CRE Asia to subscribe to 6.15 million new ordinary shares of SIS for a cash consideration of US$6.2 million.

Citic Envirotech

Citic Envirotech said it secured two industrial hazardous waste treatment projects in Xinjiang Province, with a total investment of 680 million yuan.

The first project is a build-own-operate project for 650 million yuan for a solid waste plant, hazardous waste plant and a landfill in the Korla Economic and Technological Development Zone in Bazhou City under the Xinjiang Uygur Autonomous Region, it said in a filing to SGX after the market close on Tuesday.

The second project is for upgrading and operation of an existing hazardous waste treatment facility in Aksu City, Xinjiang Province, with an investment of 30 million yuan, it said.

The capital injections for the two projects will be funded with the proceeds of its most recent share placement and by bank financing, it said.

Raffles Education

Raffles Education said that its indirect wholly owned subsidiary Hefei Lanjing Science & Trade on Tuesday entered a deal to buy six commercial properties in Suzhou from multiple sellers. The aggregate consideration will be 6.620 million yuan, or around S$1.38 million, it said in a filing to SGX after the market close on Tuesday.

The company said the properties were located in the same building as Gelin Nursery School of Suzhou National New & Hi-Tech Industrial Development Zone (SZGL), which Raffles Education operates. The company said the proposed acquisitions will be an opportunity for the company to expand classroom size, upgrade SZGL facilities and increase the student population.

The properties were units 303 to 308, block 5 No. 203 Tayuan, in Suzhou and their leasehold expires at the end of 2066, it said. The deals were not inter-conditional, it said.

Sunpower Group

Sunpower Group said it landed a manufacturing and services contract valued at 44.6 million yuan from repeat customer and LPG trader Oriental Energy to supply heat exchanges.

Delivery of the equipment was expected to be completed by early 2019, with a positive impact on the financial year ending 31 December, it said in a filing to SGX after the market close on Tuesday.

Accordia Golf Trust

Morgan Stanley ceased to be a substantial shareholder in Accordia Golf Trust, with its deemed interest falling to 4.9617 percent from 5.0126 percent, the trust manager said in a filing to SGX after the market close on Tuesday. The filing said Morgan Stanley had the controlling interest in the body corporate which held the interest in the units.

In a separate filing on Tuesday, the trust noted Mitsubishi UFJ Financial, which holds more than 20 percent of Morgan Stanley, also ceased to be a substantial shareholder.

Spackman Entertainment

Spackman Entertainment said its fully owned film-equipment unit Frame Pictures won a camera equipment contract for the South Korean drama series “Lovely Horribly.” The contract was valued at a total 200 million won, or around US$185,890, subject to changes in the final filming schedule, it said in a filing to SGX on Tuesday.

“Lovely Horribly,” a horror romantic comedy starring Park Si-hoo and Song Ji-hyo, was scheduled to air in August, it said.

“We believe projects like ‘Lovely Horribly’ demonstrate the potential of Frame Pictures’ planned listing as a combined standalone entity with
Novus Mediacorp,” Richard Lee, interim CEO and executive director of Spackman Entertainment, said in the statement.