Singapore stocks to watch Monday: SATS, Wilmar, Wheelock, OUE Hospitality, MIT

Singapore CBDSingapore CBD

These are the Singapore stocks that may be in focus on Monday 16 July 2018:

SATS and Wilmar

SATS said that its wholly owned subsidiary SATS Food Services, or SFS, on Friday entered an agreement with WI Kitchen (Tianjin Investment, or WIKTI, to create a joint venture called Langfang JVCo in China, according to an SGX filing on Friday after the market close.

SFS will take a 60 percent stake in the joint venture, while WIKTI, which is an indirect, wholly owned subsidiary of Wilmar International, will take the remainder, it said.

Langfang JVCo, which will be incorporated with registered capital of 120 million yuan, or around S$24.53 million, will build a second central kitchen to supply food to the Chinese market, it said.

WIKTI would mark an expansion of Wilmar’s and SATS’ partnership, which included forming SATS Yihai Kerry Kunshan Food Co., under a 2016 agreement, the filing said.

SFS’s total subscription for its stake of 72 million yuan, or around S$14.72 million, will be funded via internal resources and paid in cash, the filing said, adding that it wasn’t expected to have a material impact on earnings per share for the current financial year.

Wheelock Properties

Wheelock Properties requested a trading halt before the market open on Monday, pending the release of an announcement.

OUE Hospitality Trust

Chen Yi-Chung Isaac was appointed acting CEO of OUE Hospitality Trust’s manager, the company said in a filing to SGX before the market open on Monday.

Chen had been deputy CEO since the beginning of this year and the trust manager’s vice president of investments from 2013-17, the filing said.

Mapletree Industrial Trust

Mapletree Industrial Trust said that Mapletree Sunview 1, a build-to-suit (BTS) data center development, has been completed and obtained its Temporary Occupation Permit on Friday, according to an SGX filing on Sunday.

The facility, located in a specialized industrial park for data centers in western Singapore, will be fully leased to an established data center operator for an initial lease term of more than 10 years, with staggered rental increases as well as renewal options, it said.

This marks the third BTS data center in the REIT’s portfolio, which includes four data centers in Singapore and 14 in the U.S., via a 40:60 joint venture with Mapletree Investments, it said. The hi-tech buildings segment was the largest segment in its portfolio, at 37.7 percent of the portfolio valuation as of 31 March 2018, it said.

Oxley Holdings

Low See Ching (Liu Shijin), the deputy CEO and executive director of Oxley Holdings, bought 200,000 shares of the company in the market on Thursday for S$0.36 each, according to an SGX filing after the market close on Friday.

His direct interest in the company remained at 27.7 percent, it said.

CapitaLand Mall Trust

NTUC Enterprise Co-operative became a substantial shareholder of CapitaLand Mall Trust after buying 546,900 units on Wednesday for S$1.15 million, according to an SGX filing after the market close on Friday.

That raised NTUC Enterprise Co-operative’s deemed interest to 5.01 percent from 4.99 percent, the filing said.

Two other SGX filings said the National Trades Union Congress’ and the Singapore Labour Foundation’s deemed interests in the trust also rose to 5.01 percent from 4.99 percent.

PropNex

PropNex CEO Mohamed Ismail s/o Abdul Gafoore purchased 420,700 shares of the company in the market on Thursday for S$0.58422 each, according to an SGX filing after the market close on Friday.

That raised his deemed interest in PropNex to 55.96 percent from 55.85 percent, it said.

The deemed interest via a nominee account at UOB KayHian rose to 1,219,800 shares from 799,100 shares, it said. The deemed interest via P&N Holdings, in which he owns a 62 percent stake, remained at 205,844,129 shares, it said.

Additionally, Director Lim Tow Huat’s deemed interest rose after buying 30,000 shares in the market on Thursday at S$0.58 a share, according to a separate SGX filing on Friday after the market close.

Lim’s deemed interest rose to 55.84 percent from 55.83 percent, it said.

The deemed interest via a nominee account at UOB KayHian rose to 747,100 shares from 717,100 shares, according to the filing. While the deemed interest in the shares in P&N Holdings, in which Lim owns a 38 percent stake, remained unchanged, it said.

Additionally, Director Ahmad Bin Mohamed Magad purchased 30,000 shares in the market on Friday at S$0.585 each for a direct interest of 0.01 percent, according to a filing to SGX after the market close on Friday. The filing indicated he hadn’t previously held shares.

Yorkshine Holdings

Yorkshine Holdings said it received a letter dated 11 July 2018 from New Page Investments demanding the company and relevant subsidiaries repay outstanding loan amounts of US$33.25 million on or before 1 August 2018, which was the maturity data of various loan agreements in 2015 and 2016 and extension letters in 2017.

The company was seeking professional advice on the matters raised in the letter, it said in the filing to SGX after the market close on Friday.

It said its shares on SGX and the Hong Kong Stock Exchange would remain suspended. Yorkshine requested its shares be suspended in August 2017.

The company is involved in the steel supply chain, covering trading, distribution, manufacturing and processing.

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