Singapore stocks to watch Tuesday: Sembcorp, CapitaLand, Frasers Logistics, Spackman

The skyline in Singapore’s central business district.The skyline in Singapore’s central business district.

These are the Singapore stocks which may be in focus on Tuesday, 21 August 2018:

Sembcorp Industries

Sembcorp Industries said on Monday that its India-based power plant Sembcorp Gayatri Power Ltd. (SGPL) won a competitive tender by the Bangladesh Power Development Board (BPDB) to supply 250 megawatts of power to Bangladesh for a period of 15 years.

SGPL has received letters of intent from BPDB and the supply of power is expected to begin upon completion of procedural requirements and relevant government approvals, it said in a filing to SGX after the market close on Monday.

SGPL is wholly owned by Sembcorp’s India power arm Sembcorp Energy India Ltd. (SEIL), it said.

Sembcorp noted that the company is also part of a consortium constructing the Sirajganj Unit 4 power project in Bangladesh, which will have a contracted capacity of 426 megawatts, with open-cycle operations targeted to begin later this year and reach full commercial operations in 2019.

Singtel

Singtel said on Tuesday that its wholly owned subsidiary Singtel Group Treasury, or SGT, priced US$500 million of 10-year notes on Monday, which were guaranteed by Singtel.

The U.S. dollar-denominated notes will carry a coupon of 3.875 percent per annum and will mature in 2028, it said in a filing to SGX before the market open on Tuesday. The notes will be drawn down under SGT’s S$10 billion euro medium-term note program, it said.

The notes are rated at A1 by Moody’s Investors Service and A+ by S&P Global Ratings, in line with Singtel’s current ratings, it said.

“This issue is part of the long-term financing strategy and extends the debt maturity profile of Singtel and its subsidiaries,” the filing said. “The net proceeds from this issue will be applied by SGT to fund its ordinary course of business.”

Application to list and quote the notes on the Singapore Exchange Securities Trading has been made, it said.

Citigroup Global Markets Singapore, DBS Bank and HSBC acted as joint lead managers and bookrunners, it said.

CapitaLand

CapitaLand said on Monday that it bought back 95,700 shares in the market at S$3.33 each for a total consideration of S$319,090.

Since the April 2018 beginning of the buyback mandate, CapitaLand has bought back 32,581,100 shares, or 0.78 percent of the issued shares excluding treasury shares, it said in a filing to SGX after the market close on Monday.

Sembcorp Industries

Sembcorp Industries said on Monday that it bought back 150,000 shares at S$2.65 each for a total consideration including other costs of S$397,978.

Since the April 2018 beginning of the buyback mandate, Sembcorp Industries has bought back 850,000 shares, or 0.048 percent of the issued shares excluding treasury shares, it said in a filing to SGX on Monday after the market close.

Frasers Logistics & Industrial Trust

Frasers Logistics & Industrial Trust’s manager said on Monday that it completed the divestment of 80 Hartley Street, Smeaton Grange, in New South Wales Australia on Monday and it completed the divestment of Lot 102 Coghlan Road in South Australia on Friday.

After the divestments, the trust’s portfolio contains 80 logistics and industrial properties across Australia, Germany and the Netherlands, it said in a filing to SGX after the market close on Monday.

Ascendas REIT

Ascendas REIT has completed the divestment of No.41 Changi South Avenue 2 for S$13.58 million to Y K Toh Marketing (S) on Monday, the REIT manager said in a filing to SGX on Monday after the market close.

The manager is entitled to a divestment fee of 0.5 percent of the property’s sale price, to be paid in cash, it said.

After the divestment, the REIT owns 98 properties in Singapore, 33 properties in Australia and 12 properties in the U.K., it said.

Perennial Real Estate Holdings

Perennial Real Estate Holdings said on Monday that it launched and priced S$170 million in principal amount of 5.95 percent notes due 2020, with the proceeds earmarked for refinancing existing borrowings.

The notes are expected to be issued on 28 August and listed on the SGX on the market day after the issue, it said in a filing to SGX after the market close on Monday.

DBS Bank, OCBC and UOB have been appointed as joint lead managers and book runners for the notes, it said.

It noted that associates of Kuok Khoon Hong, who is the chairman, non-independent non-executive director and controlling shareholder of the company, have subscribed for around 17.6 percent of the principal amount of the entire issue.

The notes will be issued under the program established by the company and its wholly owned subsidiary PTPL on 22 January 2015, it said.

Maxi-Cash Financial Services

Maxi-Cash Financial Services said on Monday that it bought back 200,000 shares in the market at S$0.138 to S$0.14 each for a total consideration including other costs of S$28,004.78.

Since April 2018 beginning of the share buyback mandate, Maxi-Cash has bought back 300,000 shares, or 0.03 percent of the issued shares excluding treasury shares, it said in a filing to SGX on Monday after the market close.

Stamford Land

Stamford Land said on Monday that it bought back 78,100 shares in the market at S$0.49 each for a total consideration including other costs of S$38,326.

Since the July 2018 beginning of the share buyback mandate, Stamford Land has bought back 2,252,300 shares, or 0.261 percent of the issued shares excluding treasury shares, it said in a filing to SGX after the market close on Monday.

Spackman Entertainment

Spackman Entertainment said on Monday that South Korean actress Han Ji-an, who is under the company’s wholly owned subsidiary Constellation Agency, will play the lead in a new South Korean drama, So I Married an Anti-Fan.

Han is represented by Platform Media Group, which is owned by Constellation Agency, it said in a filing to SGX after the market close on Monday.

The new drama, which is co-produced by Godin Media and Warner Bros. Korea, is based on a popular novel of the same name and is about a comedy romance between a top star and a magazine reporter, who became a “crazy anti-fan,” it said.

This article was originally published on Tuesday, 21 August 2018 at 7:47 A.M. SGT; it has since been updated to include an item on Singtel.

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