Singapore stocks to watch Thursday: Keppel, Yangzijiang, Venture, Manulife US REIT

Singapore’s Marina Bay SandsSingapore’s Marina Bay Sands

These are the Singapore stocks to watch for Thursday 14 June 2018:

Keppel Corp.

Keppel Offshore & Marine, via its wholly owned subsidiary Keppel FELS, has delivered the SKALD jackup rig to Borr Skald, a subsidiary of Borr Drilling, on time and on budget, Keppel said in a filing to SGX after the market close on Wednesday.

It’s the second jackup rig Keppel has delivered to Borr Drilling, after the delivery of the SAGA earlier this year, with another eight on order, it said.

Yangzijiang Shipbuilding

Yangzijiang Shipbuilding said it bought back 2.158 million shares in the market on Wednesday at S$0.97-S$0.98 each for a total consideration of S$2.11 million.

That brought the number of shares its bought back to 8.158 million, 0.206 percent of the total issued shares excluding treasury shares, since the late April mandate for the buyback, it said in a filing to SGX after the market close on Wednesday.

Venture Corp.

Venture Corp. said it bought back 30,000 shares in the market on Wednesday at S$20.49 each for a total consideration including fees of S$616,351.

That brought the number of shares purchased since the late April buyback mandate to 394,000, or 0.1371 percent of the total issued shares excluding treasury shares as of the mandate date, it said in an SGX filing after the market close on Wednesday.

Manulife U.S. REIT

Manulife U.S. REIT said that its preferential offering of new units was oversubscribed, with valid acceptances for a total of 182.9 million new units and applications for 47.8 million additional new units.

A total of 227.94 million new units will be issued under the preferential offering at US$0.865 each to raise gross proceeds of around US$197.2 million, the REIT manager said in a filing to SGX after the market close on Wednesday.

China Everbright Water

China Everbright Water said it signed a deal to acquire all of Xuzhou Municipal Engineering Design Institute for 82 million yuan in cash.

The institute is primarily involved in the survey, mapping, design and consultation of projects related to roads, bridges, tunnels, water supplies, drainage, heat, gas, electricity and other infrastructure projects, it said in a filing to the SGX after the market close on Wednesday.

China Jinjiang Environment

Waste-to-energy operator China Jinjiang Environment said secured a syndicated term loan facility of US$200 million and 100 million yuan through an agreement with Standard Chartered Bank (Hong Kong) and Standard Chartered Bank (China) as syndicate leaders.

It’s the company’s first syndicated loan facility and a new overseas financing channel, it said in a filing to SGX after the market close on Wednesday. Twelve international banks, including lead arranger Standard Chartered, participated in the syndicated loan, which will be used for working capital, it said.

“The facility was oversubscribed and it is a sign of confidence from the international financial markets,” Wang Yuanluo, non-executive, non-independent chairman of the company, said in the statement.

Accordia Golf Trust

Morgan Stanley ceased to be a substantial shareholder of Accordia Golf Trust, with its deemed interest falling to 4.971 percent from 5.1318 percent, the trust manager said in a filing to SGX after the market close on Wednesday.

In a separate filing, the trust manager said Mitsubishi UFJ Financial Group became a substantial shareholder, with its deemed interest rising to 5.1324 percent from 4.9659 percent. The increase in deemed interest was due to shares in which Morgan Stanley may exercise rights over, it said. Mitsubishi UFJ Financial holds a more than 20 percent interest in Morgan Stanley