Singapore stocks to watch Thursday: SingTel, Mapletree Logistics, SATS, Spackman

SingTel outlet in SingaporeSingTel outlet in Singapore

These are the Singapore stocks to watch on Thursday 5 July 2018:

SingTel

SingTel is still investigating the cause of a more than three-hour long fibre broadband outage on Wednesday monring, but it said that it wasn’t due to a cyberattack, the Straits Times reported on Thursday.

Mapletree Logistics Trust

Mapletree Logistics Trust said it proposed acquiring five modern, ramp-up logistics properties in Singapore for an estimated S$778.3 million from CWT Pte.

The purchase is contingent upon approvals from JTC Corp. and the shareholders of CWT International, which is the holding company of CWT Pte., it said in the filing to SGX before the market open on Thursday.

After the deal is completed, the properties will be 100 percent leased back to CWT for terms from five to 10 years, it said.

The acquisitions are expected to generate an initial net property income yield of 6.2 percent, based on the purchase price, and they are expected to be accretive to distribution per unit, it said.

MLT’s manager is reviewing financing options, including proceeds from an equity fund-raising, proceeds from potential divestment(s) and/or debt, it said.

“This acquisition will strengthen MLT’s position as one of the largest modern specs warehouse space providers in Singapore. Total gross
floor area in our Singapore portfolio will increase by almost 20 percent to over 20 million square feet, allowing us to benefit from Singapore’s continued growth as a global logistics hub,” Ng Kiat, CEO of MLT’s manager, said in the filing.

The deal is expected to be completed in September, it said.

Ramp-up warehouses offer direct vehicular access to all levels, which gives tenants better efficiency in moving cargo, it said.

SATS

SATS said it bought back 13,600 shares in the market on Wednesday at S$4.90 each for a total consideration, including other costs, of S$66,718.

Since the July 2017 beginning of the share buyback mandate, SATS has bought back 6,840,100 shares, or 0.6112 percent of the issued shares excluding treasury shares, according to a filing to SGX after the market close on Wednesday.

CapitaLand Retail China Trust

CapitaLand Retail China Trust said its trustee, HSBC Institutional Trust Services (Singapore) issued S$130 million 3.25 percent notes due 2022, comprised in series 001.

The notes were issued under its S$1 billion multicurrency debt issuance programme, and they have a fixed interest rate of 3.25 percent a year, with maturity on July 4, 2022, it said in a filing to SGX on Wednesday after the market close.

Approval in-principle has been received from Singapore Exchange Securities Trading (SGX-ST) for listing and quotation of the notes on SGX-ST, it said.

Frasers Logistics & Industrial Trust

Frasers Logistics & Industrial Trust’s manager said that its SGX filing on Tuesday contained a misstatement and should have said that if the proposed divestment of a New South Wales, Australia, property had taken place on 20 June 2016, FLT’s net asset value per unit as of 30 September 2017 would have risen to S$0.95 from S$0.94.

Spackman Entertainment Group

Spackman Entertainment Group said that Lee Min-jung, who is managed by associated company Spackman Media Group, was cast as the main character in Fate and Furies, a new romance drama to be aired on SBS in November.

Fate and Furies is based on an American novel of the same name and is about a woman who deceives a man who ends up falling in love with her, the company said in a filing to SGX after the market close on Wednesday.

Spackman Entertainment Group

Spackman Entertainment Group said it bought back 250,000 shares in the market on Wednesday at S$0.048 each for a total consideration, including other costs, of S$12,037.

Since the April 2018 start of its buyback mandate, Spackman has bought back 1,750,000 shares, or 0.253 percent of the issued shares excluding treasury shares, according to an SGX filing after the market close on Wednesday.

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