Singapore stocks to watch Friday: Frasers Property, Oxley, SGX, DBS, PropNex, Liongold, Accordia Golf

Singapore five-dollar note Photo by Leslie Shaffer

These are the Singapore stocks likely in focus on Friday 13 July 2018:

Frasers Property

Frasers Property said on Thursday its indirect wholly owned subsidiary, Frasers Property Investments (Vietnam) 2, or FPIV2, entered a deal to acquire 45 million shares, or 75 percent, of Phu Ann Dien Real Estate Joint Stock Company (PAD) from Tran Thai Lands for 799.0 billion dong, or around S$47.33 million.

If the proposed acquisition is completed, PAD will become a subsidiary of Frasers Property, it said in a filing to SGX after the market close on Thursday. The consideration will be paid in cash, and will be funded by Frasers Property’s internal cash resources and/or external bank borrowings, it said.

“It is intended that PAD will undertake the development of a residential-cum-commercial project on a mixed-use development plot in Linh Trung Ward, Thu Duc District, Ho Chi Minh City, Vietnam,” the filing said.

Oxley Holdings

Ching Chiat Kwong, CEO and executive chairman of Oxley Holdings, bought 500,000 shares of Oxley at S$0.36 each on Thursday, according to a midday filing to SGX on Thursday. A second filing said Ching bought another 500,000 shares at S$0.36 a share on Thursday.

That brought his direct interest to 41.19 percent, up from 41.16 percent, the filing said.

Singapore Exchange and DBS

DBS and Singapore Exchange said on Thursday they launched a three-year collaboration to educate DBS customers on financial planning in a program called “FLY with DBS and SGX.”

“Based on customers’ banking transactional behaviour, DBS will identify the investor profile of customers and match them to specific customer segments, before reaching out with contextualised and tailored education offerings,” the two companies said in an SGX filing on Thursday.

PropNex

Mohamed Ismail s/o Abdul Gafoore, a co-founder, CEO and executive chairman of PropNex, saw his deemed interest in the company rise to 55.85 percent from 55.63 percent after the purchase of 799,100 shares at S$0.58342 each in the market on Tuesday, according to an SGX filing on Thursday.

He is deemed interested in teh 205,844,129 shares of PropNex held by P & N Holdings and 799,100 shares held by him in a nominee account at UOB KayHian, the filing said; P & N is 62 percent owned by him, it said.

Lim Tow Huat, a co-founder and executive director of PropNex, saw his deemed interest in PropNex rise to 55.83 percent from 55.63 percent, after the purchase of 200,000 shares at S$0.5875 each in the market on Tuesday and the purchase of 517,100 shares at S$0.57984 each on Wednesday, according to two separate SGX filings on Thursday.

Lim is deemed to have an interest in the shares held by P & N Holdings and 717,100 shares held by him in a nominee account maintained with UOB KayHian, one of the filings said. P & N is 38 percent owned by Lim, it said.

Kelvin Fong Keng Seong, an executive director of PropNex, now has a deemed interest of 50,000 PropNex shares after they were purchased on Wednesday in the market at S$0.575 each, according to an SGX filing after the market close on Thursday.

Fong was deemed to have an interest in the shares, which were held through his nominee account with UOB KayHian, the filing said. Fong also has a 7.27 percent direct interest in PropNex, the filing said.

Accordia Golf Trust

Accordia Golf Trust said on Thursday an update of its golf courses in Hiroshima and Fukuoka, Japan, that the heavy rainfall in the region, which caused flash floods and landslides, had damaged some of the courses but that there were no casualties.

“AGT’s three golf courses – Hongo Country Club, Takehara Country Club and Fukuoka Pheasant Country Club – are currently closed due to public road closures against possible landslides and repair works. There is no casualty reported at the golf courses,” it said in the filing to SGX on Thursday after the market close.

“Although several AGT’s golf courses also suffered damage, there was no material impact,” it said.

The heavy rains in western Japan have killed 200 people, Reuters reported.

“On behalf of the board of directors and management of AGT, I would like to express our sincere condolences to the families of the victims,” Yoshihiko Machida, CEO and executive director of the trustee-manager, said in the filing.

Silverlake Axis

Silverlake Axis bought back 320,300 shares in the market on Thursday at S$0.517 each, for a total consideration of S$165,909.73, according to an SGX filing after the market close on Thursday.

Since the October 2017 start of the buyback mandate, Silverlake Axis has bought back 177,168,100 shares, or 6.69 percent of the issued shares excluding treasury shares, the filing said.

Liongold

Liongold said on Friday that it entered into an agreement to borrow up to S$3.5 million from Tan Soo Khoon Raymond, its group CEO and executive director, in an interest-free, unsecured loan.

The loan will be used for general working capital, it said in a filing to SGX before the market open on Friday.

Tan has a direct interest in 1.8 million ordinary shares of the company, representing an around 0.02 percent stake, it said.

In a separate filing, Liongold said that entered a supplemental agreement with Premier Equity Fund Sub Fund E and Value Capital Asset Management to amend the terms of its 2.5 percent redeemable convertible bonds due 2018, which were to have an aggregate principal amount of up to S$100 million.

Liongold said that the parties agreed to extend the maturity date to four years and six months, from three years, from the closing date of the first sub-tranche of the tranche 1 bonds, meaning that the new maturity date will be 16 March 2020.

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