Singapore stocks to watch Tuesday: Keppel, ST Engineering, Yanlord, Jumbo, BreadTalk, Sunpower

Singapore CBDSingapore CBD

These are the Singapore stocks likely in focus on Tuesday 10 July 2018:

Keppel Corp. and ST Engineering

Keppel Corp. said on Monday that its wholly owned subsidiary Keppel Urban Solutions and ST Engineering signed a memorandum of understanding to cooperate on the design and implementation of smart-city masterplans and services for Keppel’s developments and third-party projects in Asia Pacific.

“The partnership targets cities and developments looking for end-to-end services that weave in Smart City technologies seamlessly. The custom built-to-design Smart City technologies work to improve user experience, liveability, sustainability and resource-efficiency,” the filing to SGX after the market close on Monday said.

The collaboration will begin in Vietnam and may be extended to other markets, it said, adding that one project the two companies will work on is Saigon Sports City, a 64-hectare development in Vietnam, with smart street lighting, security management and autonomous vehicles under consideration.

Yanlord Land

Yanlord Land said on Monday that it acquired a 154,500 square meter gross floor area prime residential development site in Hangzhou, Zhejiang Province, for 2.94 billion yuan via a public land auction.

“[The] latest acquisition reinforces strategic focus to extend footprint within the greater Hangzhou real estate market, which continues to witness strong demand for high quality commercial and residential developments,” the filing to SGX after the market close on Monday said.

Oxley Holdings

Oxley Holdings said in a midday filing to SGX on Monday that it bought back 1 million shares in the market at S$0.345 to S$0.35 each for a total consideration, including other costs, of S$350,398.

Since the October 2017 beginning of its share buyback mandate, Oxley has bought back a total of 9.3 million shares, or 0.3154 percent of the issued shares excluding treasury shares, it said.

Wing Tai Holdings

Wing Tai Holdings said it bought back 1,385,000 shares in the market on Monday at S$1.95 each for a total consideration, including other costs, of S$2,702,673.

Since the October 2017 start of it buyback mandate, Wing Tai has bought back 7,839,900 shares, or 1.01 percent of the issued shares excluding treasury shares, it said in a filing to SGX after the market close on Monday.

AIMS AMP Capital Industrial REIT

AIMS AMP Capital Industrial REIT said on Monday that it would carry out an asset enhancement initiative at 29 Woodlands Industrial Park E1, NorthTech as part of its ongoing asset enhancement strategy.

The AEI will improve NorthTech’s passenger lift lobbies, toilets, drop-off area and external landscaping as well as create a new carpark entrance and implement sustainable strategies, including installing energy-efficient air-conditioning, the filing to SGX after the market close on Monday said.

The asset’s rental income is not expected to be affected by the AEI, it said.

Roxy-Pacific Holdings

Roxy-Pacific Holdings said on Monday that it bought back 1 million shares in the market at S$0.43 each for a total consideration, including other costs, of S$43,133.

Since the April 2018 beginning of its share buyback mandate, Roxy-Pacific has bought back 6,173,900 shares, or 0.5188 percent of the issued shares excluding treasury shares, it said in a filing to SGX after the market close on Monday.

Sunpower Group

Sunpower Group said its wholly owned subsidiary Jiangsu Sunpower Clean Energy entered into two conditional deals to buy Hengtong Group’s 100 percent stake in Zhangjiagang Yongxing Thermal Power and its 40 percent stake in Jiangsu Hengtong Electricity Sales.

Zhangjiangang Yongxing Thermal Power, which mainly supplies steam to industrial companies and sells electricity to the State Grid Corp. of China, holds a 60 percent interest in Jiangsu Hengtong Electricity Sales, which mainly trades electricity, it said in a filing to SGX after the market close on Monday.

The proposed consideration for Zhangjiangang Yongxing Thermal Power is 765 million yuan, while the proposed consideration for the stake in Jiangsu Hengtong Electricity Sales is 8 million yuan, it said.

The proposed acquisition of the stake in Jiangsu Hengtong Electricity Sales is contingent upon Sunpower proceeding with the acquisition of Zhangjiangang Yongxing Thermal Power after due diligence, it said.

PropNex

UOB KayHian said on Monday that it bought 3.85 million shares of PropNex, either as the principal or through dealers, for S$0.56 to S$0.59 each, as part of its action as the stabilizing manager for the initial public offering.

In a separate filing UOB KayHian said that it had ceased price stabilization as of Monday after buying, either as a principal or through dealers acting of its behalf, an aggregate 8.5 million shares of PropNex at S$0.56 to S$0.635 each.

Jumbo Group

Jumbo Group said on Monday that its wholly owned subsidiary Jumbo Group of Restaurants entered a franchise agreement for C J Seafood to establish and operate a Jumbo restaurant in Bangkok, Thailand.

The restaurant, its first in Bangkok, is expected to open by the end of 2018, it said in a filing to SGX after the market close on Monday. The franchise agreement has an initial term of 10 years and could be renewed for another 10 years, it said.

BreadTalk

BreadTalk said on Monday that approval for its proposed purchase of the property at 8 and 8A Sixth Avenue in Singapore was not given by the Land Dealings Approval Unit (LDAU).

That meant that BreadTalk’s wholly owned subsidiary Imagine Properties did not exercise the option to purchase the property by the expiry date and BreadTalk’s Group Chairman George Quek Meng Tong has taken over the rights to exercise the option in his personal capacity, it said in a filing to SGX on Monday after the market close.

The option money paid by the company will be reimbursed by Quek, it said in the filing on Monday.

In a separate SGX filing on Monday, BreadTalk said its wholly owned subsidiary Topwin Investment Holding had incorporated a wholly owned subsidiary in Cambodia, which was named F.R. (Cambodia), with paid-up capital of around US$5,000.

F.R. (Cambodia) will be mainly engaged in the management of food courts and the selling of food and beverages, it said.

CNMC Goldmine

CNMC Goldmine said on Tuesday that it had submitted an application on Monday to the Stock Exchange of Hong Kong to seek a dual listing of its ordinary shares.

It appointed Alliance Capital Partners as the sole sponsor in connection with the proposed dual listing, the company said in a filing to SGX before the market open on Tuesday.

The company also said that its Sokor Gold Project has produced fine gold, or gold bars refined to the purity of more than 99.95 percent, amounting to 7,187 ounces for the second quarter, for a total of 11,707 ounces for the first half of the year.

That was up 87.4 percent and 56 percent on-year respectively, it said.

China Jinjiang Environment

China Jinjiang Environment said on Monday that a waste-to-energy facility, the Linzi Project, owned by its wholly owned subsidiary Zibo Green Energy New Energy, successfully connected to the electricity power grid on Friday and began trial operations.

The Linzi project is in the Linzi district, Zibo City, Shandong Province, it said in a filing to SGX on Monday.

“The operation of the Linzi project will bring considerable environmental protection and energy saving benefits while solving the problem of domestic waste in Linzi and nearby areas,” the filing said. “Upon being operational, it is able to achieve annual standard coal savings of over 257,000 tons and carbon emission reduction of up to 178,000 tons.”

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