Singapore stocks to watch Wednesday: CapitaLand, Sembcorp, No Signboard, Venture, Wilmar

Singapore two-dollar bills

These are the Singapore stocks likely in focus on Wednesday 27 June 2018:

CapitaLand

CapitaLand said it acquired Chongqing Zhonghua Real Estate, which owns 32-hectare prime mixed-use site in Chongqing, for 2.2 billion yuan, or around S$459 million. The agreed value of the property was 5.7 billion yuan, or around S$1.19 billion, it said in a filing to SGX before the market open.

The land parcel comprises two greenfield sites which will yield 1,900 residential units and a shopping mall as well as brownfield sites with an inventory of 223 residential units as well as office and retail space, it said.

As of end-March, China accounted for 37 percent of CapitaLand’s total assets, it noted.

Sembcorp Industries

Sembcorp Industries said it appointed Namesh Hansjee as the head of its newly established Merchant & Retail business line; Hansjee will join the company in late August it said.

“The development of the Merchant & Retail business will enable Sembcorp to capture opportunities closer to the customer and in multiple markets, enhance competitiveness and returns, and strategically position itself to benefit from the global energy transition,” it said in a filing to SGX after the market close on Tuesday. “Earlier this month, the company also acquired UK Power Reserve, the U.K.’s largest flexible distributed energy generator, as part of its drive to grow its merchant energy capabilities.”

Before joining Sembcorp, Hansjee was a managing director at Bank of America Merrill Lynch, heading its energy trading in London, it said.

Wilmar International

Wilmar International’s wholly owned subsidiary Wilmar Sugar Holdings (WSH) has raised its stake in Shree Renuka Sugars (SRSL) to around 58 percent from around 39 percent, according to a filing to SGX after the market close on Tuesday.

That was after the completion of its open offer from June 4 to June 15 to acquire up to 26 percent of SRSL, it said, adding that it purchased 378.87 million shares at 16.29 rupees a share during the period.

The share purchase has resulted in SRSL becoming an indirectly owned subsidiary of Wilmar, it said.

Shares of SRSL ended Tuesday down 4.89 percent at 12.65 rupees.

Keppel Corp.

Keppel Corp. bought back 20,000 shares in the market on Tuesday for S$7.08 each for a total consideration including costs of S$141,812, it said in a filing to SGX after the market close on Tuesday.

That brought to 2.461 million shares, or 0.1355 percent of the issued shares excluding treasury shares, that have been bought back since the late April beginning of the buyback mandate, it said.

Venture Corp.

Venture Corp. bought back 50,000 shares in the market on Tuesday at S$17.37 each for a total consideration including costs of S$870,480, it said in a filing to SGX after the market close on Tuesday.

That brought to 634,000 shares, or 0.221 percent of issued shares excluding treasury shares, bought back since the late April buyback mandate began, it said.

Wing Tai Holdings

FMR LLC became a substantial shareholder of Wing Tai Holdings, with its deemed interest rising to 5 percent form 4.91 percent after market purchases on Friday, according to an SGX filing after the market close on Tuesday.

FMR is deemed to have interests in the Wing Tai Holdings shares because the shares are held by funds and/or accounts managed by one or more of FMR’s direct and indirect subsidiaries, which are fund managers, the filing said.

Yanlord Land

Zhong Sheng Jian, founder, chairman and CEO of Yanlord Land, raised his direct interest in the company to 3.86 percent up from 3.79 percent previously via share purchases in the market on Friday and Monday, according to an SGX filing on Tuesday after the market close.

His deemed interest remained at 66.19 percent, the filing said. His total interest rose to 70.05 percent from 69.98 percent, it said.

Zhong is deemed to be interested in Yanlord Land shares held by Yanlord Holdings, which is 95 percent owned by Zhong and 5 percent owned by his spouse, it said.

No Signboard Holdings

Chilli crab icon No Signboard Holdings said it would enter the fast-food business by launching a new chain, Hawker QSR, offering “hawker-themed” burgers, wraps and buns.

“The localised food menu serves an extensive selection like chilli crab burger, black pepper crab burger, Hainanese chicken rice burger, nasi lemak burger and roti prata wrap etc.,” it said in a filing to SGX before the market open on Wednesday.

It’s planning to open its first outlet by end-2018 and have at least three outlets by early 2019, it said, adding it will seek Halal certification and permits to operate 24/7.

Set-up costs are expected to be S$500,000 per outlet, which will initially be funded by 20 percent from IPO proceeds and 80 percent through bank loans, it said.

“Our Group has observed the success of McDonald’s nasi lemak burger campaign in 2017. Therefore, we are very keen to seize this opportunity and ride on this rising trend of Asian fast food,” Sam Lim, executive chairman and CEO of No Signboard, said in the statement. “Moreover, our group is well-equipped to provide fast food with an authentic spot-on local flavor.”

In a separate SGX filing, No Signboard said it appointed Er Kee Leong, who previously worked in new concepts development at McDonald’s, to head Hawker QSR.

Lian Beng

Lian Beng said it completed a deal to buy 180,000 ordinary shares, or a 60 percent stake, of United Tec Construction (UTC) from Chew Hock Seng for S$180,000.

UTC is mainly engaged in general construction, specializing in the design for manufacturing and assembly construction, it said in a filing to SGX on Tuesday.

The acquisition was funded by internal resources and was expected to have a positive impact on earnings per share for the current financial year ending 31 May 2019, it said.

Soilbuild Construction

Soilbuild Construction said it landed a new construction contract valued at S$3.8 million for structural building and related infrastructural work for a distribution center in Dagon Seikkan Township in Myanmar.

The project is expected to begin this month and be completed in the first quarter of 2019, it said in a filing to SGX after the market close on Tuesday. It is not expected to have a material impact on earnings per share for the current financial year ending 31 December, it said.

The company’s orderbook stood at S$403.7 million as of end-March, it said.

Spackman Entertainment

Actor Park Hyung-sik, who is represented by UAA & Co., a wholly owned subsidiary of Spackman Media Group, has signed a contract with Wish Interactive Technology for the 3D mobile game, Love of Destiny: Palace, according to an SGX filing from Spackman Entertainment Group on Tuesday.

Park, who recently starred in the popular South Korean remake of the U.S. drama Suits, will serve as the exclusive model for the game, it said.

“Park Hyung-sik’s latest endorsement reinforces the brand power of the artists under our associated company Spackman Media Group,” Richard Lee, interim CEO and executive director of Spackman Entertainment, said in the statement.