Singapore stocks to watch Friday: Ho Bee Land, Lian Beng, CapitaLand, Spackman, CH Offshore

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These are the Singapore stocks likely in focus on Friday, 24 August 2018:

Ho Bee Land

Singapore property developer Ho Bee Land said on Thursday that it obtained a 200 million British pound, or around S$352 million, green loan from HSBC, marking the city-state’s first use of the structure.

“Whilst Singapore has seen a string of green bonds and sustainability-linked loans over 2017 and 2018, this deal is the first green loan in Singapore,” it said in a filing to SGX after the market close on Thursday.

Read more: Ho Bee Land: Obtained Singapore’s first green loan from HSBC

Lian Beng Group

Lian Beng Group said on Thursday that its 60 percent owned subsidiary, United Tec Construction, secured a contract from United Venture Development (Silat) for around S$278.5 million.

The contract period runs for 42 months, with the expected start date this month, it said.

The contract is for a proposed residential flat development with two blocks of 56-storey apartments, or a total of 955 units, including landscape, multi-storey and basement carparks and communal facilities, as well as additions and alterations to an existing five blocks of conserved four-storey flats, or a total of 136 units, which involves new shops and a childcare center, it said in a filing to SGX after the market close on Thursday.

The location is at lot 04185K, 04175C & 04179P Mukim 01 at Silat Avenue (Bukit Merah Planning Area), it said.

The contract is expected to have a positive financial impact on net tangible assets per share and earnings per share for the current financial year ending 31 May 2019, it said.

CapitaLand

CapitaLand said on Thursday that it bought back 1.62 million shares in the market for S$3.36 to S$3.37 each for a total consideration including other costs of S$5.459 million.

Since the April 2018 beginning of the buyback mandate, CapitaLand has bought back 34,241,600 shares, or 0.82 percent of the issued shares excluding treasury shares at the time the mandate began, it said in a filing to SGX after the market close on Thursday.

City Developments

City Developments said on Thursday that it bought back 100,000 shares in the market at S$9.39 to S$9.44 each for a total consideration including other costs of S$943,443.

Since the April 2018 beginning of the buyback mandate, City Developments has bought back 600,000 shares, or 0.066 percent of the issued share capital excluding treasury shares at the start of the buyback resolution, it said in a filing to SGX after the market close on Thursday.

Swiber Holdings

Swiber Holdings said on Thursday that its indirect wholly owned subsidiary Aster Marine entered a deal to sell two vessels to Swiber Marine Mexico, in which Swiber indirectly holds a 49 percent stake, for a total of US$375,000 in cash.

The two vessels, called Swiber Oslo and Swiber Ada have been mortgaged in favor of HSH Nordbank AG Singapore branch as security for Aster Marine’s obligations to HSH under some banking facilities, with the sale proceeds earmarked to pay down the amounts owed, it said in a filing to SGX after the market close on Thursday.

The price for the vessels was based on mutual agreement between Aster Marine and HSH after taking into consideration an independent offer for the vessels which was previously received from an unrelated third party, it said.

Ascendas India Trust

Ascendas India Trust’s manager said on Thursday that it obtained a S$100 million term loan facility maturing in 2023 from The Bank of East Asia’s Singapore branch.

The terms of the facility include restrictions on a change of control of Ascendas India Trust or the trustee-manager, it said in a filing to SGX after the market close.

China Kunda Technology

China Kunda Technology said on Thursday that its wholly owned subsidiary Kunda Plastic Electronic (Shenzhen) established a new, fully owned subsidiary in China for the production and supply of furniture and fittings.

The subsidiary will be called Shenzhen Shi Er Ju Quan Wu Ding Zhi and will have an initial registered capital of 6 million yuan, it said in a filing to SGX after the market close on Thursday. It added that the funding would be via internal resources and wasn’t expected to have a material impact on net tangible assets and earnings per share for the current financial year.

The company noted the move was related to its plan, approved by shareholders in July, to diversify into manufacturing and distributing furniture.

CH Offshore

CH Offshore said on Friday that it had despatched a circular to shareholders with the terms of the mandatory unconditional cash offer from BT Investment to acquire all of CH Offshore’s shares that it doesn’t already own.

The circular requires “immediate attention” from shareholders, it said in a filing to SGX before the market open on Friday, noting the offer will close at the end of business on 7 September.

BT Investment is an indirect, wholly owned subsidiary of Baker Technology.

In a separate SGX filing on Thursday after the market close, Baker Technology said that its deemed interest in CH Offshore, held through BT Investment, had increased to 372,390,612 shares, or around 52.83 percent of the total shares from 371,646,150 shares, or around 52.72 percent of the total.

That was after the transfer and settlement on Thursday of an aggregate 744,462 shares tendered in acceptance of the offer at the offer price of S$0.13 each between 14 August and 16 August, it said, adding it had received valid acceptances of another 2,408,115 offer shares, or around 0.34 percent of the total number of shares between 17 August and 23 August.

OKP Holdings

OKP Holdings said on Thursday that its 25 percent-owned associated company USB Holdings, or USBH, has incorporated a wholly owned subsidiary, USB (Phoenix), with an issued and paid up capital of S$2, comprising two ordinary shares held by USBH.

USB Phoenix’s principal business activity will be to redevelop the property at 71-85 Phoenix Avenue, Phoenix Heights, Singapore, it said.

Spackman Entertainment

Spackman Entertainment said on Friday that South Korean star Son Ye-jin, who is managed by its associated company Spackman Media Group, will appear in a crime thriller, called Negotiation, with Hyun Bin, due for release in September.

Son Ye-jin is represented by MS Team Entertainment, which is a wholly owned subsidiary of Spackman Media, it said in a filng to SGX before the market open on Friday.

“We believe that the talent management platform of  Spackman Media Group allows us to participate in top quality content projects that
were previously impossible to gain access into,” Richard Lee, CEO and executive director of Spackman Entertainment, said in the statement.

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