Singapore stocks to watch Friday: StarHub, Dairy Farm, Ascendas REIT, Parkway Life REIT, Spackman

These are the Singapore stocks which may be in focus on Friday 7 September 2018:

StarHub and Dairy Farm International

StarHub will be removed from Singapore’s Straits Times Index, while Dairy Farm International will be added to the index, FTSE Russell said on Thursday in a filing to SGX after the market close.

Shares of telecom StarHub have sold off sharply, shedding more than 42 percent since the beginning of the year, as it faces competition headwinds ahead of the entry of a fourth telco player into the city-state and as its mobile revenue has fallen and its pay TV business has shed subscribers amid competition from new players, such as Netflix.

Read more: StarHub removed from STI and Dairy Farm added after quarterly review

Ascendas REIT

Ascendas REIT raised around S$452.1 million in a private placement of 178.0 million new units priced at S$2.54 each, at the low end of the S$2.528 to S$2.606 proposed pricing range, its manager said in a filing to SGX before the market open on Friday.

The private placement, which was initially announced on Thursday after the market close, was around 2.2 times covered, with strong demand from new and existing institutional, accredited and other investors, it said.

Read more: Ascendas REIT raises S$452.1 million in private placement at low end of price band

UOB

UOB said on Thursday that its subsidiary Avatec.ai (S) incorporated indirect subsidiaries in China and Indonesia. Avatec is a joint venture company which is 60 percent owned by UOB and 40 percent owned by Pintec Technology Holdings, it said.

The first subsidiary was a wholly owned foreign enterprise in China, known as Avatec (Beijing) Co., with a registered capital of S$2.5 million and principal activities of information technology research, development consultancy and services, it said in a filing to SGX on Thursday after the market close.

It also formed a subsidiary in Indonesia called PT Avatec Services Indonesia, with an issued and paid-up capital of 11.35 billion rupiah and a principal activity of data processing, the filing said.

Parkway Life REIT

Parkway Life REIT said on Thursday that its Japan asset managers, operators and residents at its Japan healthcare facilities in Osaka, Hyogo and Hokkaido are accounted for with no reported injuries.

That was after the strong Typhoon Jebi, which hit western Japan on Tuesday, and a 6.7 magnitude earthquake which hit Hokkaido on Thursday, it said in a filing to SGX after the market close on Thursday.

Read more: Parkway Life REIT says Japan facilities weren’t structurally affected by quake, typhoon

Sembcorp Marine

Sembcorp Marine said on Thursday that its wholly owned subsidiary Sembcorp Marine Integrated Yard established a fully owned subsidiary in Norway, Sevan SSP AS, to house the staff transferred from Sevan Marine ASA and to provide products and services to the oil and gas industry.

Sevan SSP will have an initial issued and paid-up share capital of 30,000 Norwegian krone (S$4,910) divided into 300 ordinary shares at 100 Norwegian krone each, it said in a filing to SGX on Thursday.

The incorporation was funded via internal resources and wasn’t expected to have a material impact on the consolidated net tangible assets per share or earnings per share for the current financial year, it said.

Keppel Corp.

Keppel DHCS, a wholly owned subsidiary of Keppel Infrastructure Holdings, was awarded a contract valued at S$275,000  for the initial phase of a tender by JTC Corporation to design a new district cooling system (DCS) plant in the upcoming Jurong Innovation District, Keppel Corp. said in a filing to SGX on Thursday.

Contingent on JTC’s approval, JTC may then award a final phase to build, own and operate the new DCS plant on a 30-year contract term, it said. DCS is an installation of a centralized chilled water processing plant that serves a cluster of buildings, using a network of distribution pipes, for air-conditioning needs, with the aggregation improving energy efficiency and lowering the overall carbon footprint, it said.

The DCS plant, which is slated to be completed by end-2021, will provide reliable chilled water supply service to several developments in Bulim Phase 1, covering a 28-hectare area, including industrial-use buildings, it said.

DBS Group

DBS Group said on Thursday it bought back 650,000 shares in the market at S$24.46 to S$24.70 each for a total consideration including other costs of S$16,006,849.

Since the April 2018 beginning of the buyback mandate, DBS has bought back 7,454,800 shares, or 0.2908 percent of the issued shares excluding treasury shares at the time the mandate started, it said in a filing to SGX after the market close on Thursday.

OCBC

OCBC said on Thursday it bought back 100,000 shares in the marekt at S$11.11 each for a total consideration including other costs of S$1.11 million.

Sicne the April 2018 beginning of the buyback mandate, OCBC has bought back 5.825 million shares, or 0.139 percent of the issued shares excluding treasury shares at the time the mandate started, it said in a filing to SGX after the market close on Thursday.

Singapore Post

Singapore Post said on Thursday it bought back 400,000 shares in the market at S$1.10 to S$1.12 each for a total consideration including other costs of S$445,571.

Since the July 2018 beginning of the buyback mandate, Singapore Post has bought back 3,580,000 shares, or 0.1582 percent of the issued shares excluding treasury shares at the start of the mandate, it said in a filing to SGX after the market close on Thursday.

Stamford Land

Stamford Land said on Thursday that it bought back 280,800 shares in the market at S$0.485 each for a total consideration including other costs of S$136,392.

Since the July 2018 start of the buyback mandate, Stamford Land has bought back 4.945 million shares, or 0.572 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.

Soilbuild Business Space REIT

Soilbuild Business Space REIT’s manager said on Thursday that tenant Technics Offshore Engineering and the tenant’s guarantor, Technics Oil & Gas, filed a notice of discontinuance, with the proceedings against the REIT’s trustee, DBS Trustee, withdrawn.

The tenant and guarantor had filed a writ of summons in 2016 claiming unlawful conspiracy over a sale and leaseback transaction at 72 Loyang Way in Singapore, the filing said.

Noble Group

Noble Group said on Thursday it established two wholly owned subsidiaries in the British Virgin Islands on Wednesday, called Noble New Asset Co. and Noble Trading Hold Co., both of which have investment holding as their principal business.

The subsidiaries are intended to be the Asset Co. and the Trading Hold Co. to hold the legal title to and/or an economic or beneficial interest in the Asset Co. Assets and the Trading Co., respectively, following the completion of the proposed restructuring, Noble said in a filing to SGX after the market close on Thursday.

The issued and paid-up share capital and the net tangible asset value and book value of each of the subsidiaries is US$100, comprising 100 shares at US$1.00 each, which was paid in cash and funded by internal resources, it said.

Kingsmen Creatives

Kingsmen Creatives said on Thursday its indirect wholly owned subsidiary Kingsmen Shanghai increased its paid-up share capital to US$1.35 million from US$1.2 million.

Kingsmen (North Asia), the sole shareholder of Kingsmen Shanghai and a direct wholly owned subsidiary of Kingsmen Creatives, injected the additional capital, it said in a filing to SGX after the market close on Thursday.

The injection is intended for general working capital and expansion of Kingsmen Shanghai, which primarily designs and produces interiors, exhibitions, decorations and museums, the filing said.

The new capital was funded via internal resources and wasn’t expected to have a material impact on earnings per share and net tangible assets per share for the current financial year, it said.

Kimly

Kimly said on Thursday it bought back 197,000 shares in the market at S$0.325 each for a total consideration, including other costs, of S$64,326.

Since the January 2018 start of the buyback mandate, Kimly has bought back 2.397 million shares, or 0.207 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.

Spackman Entertainment

Spackman Entertainment’s new movie, Stone Skipping, will be screened at the 23rd Busan International Film Festival in October, with South Korean release set for the first half of 2019, the entertainment production group said in a filing to SGX after the market close on Thursday.

Stone Skipping, which previously had a working title of Damaged, is the first film production by Spackman Entertainment’s wholly owned indirect subsidiary, Studio Take, founded by movie producer Song Dae-chan.

Studio Take, which is wholly owned by Spackman Entertainment subsidiary Take Pictures, currently has developed and owns a lineup of 10 film projects, it said. That includes co-production with Spackman Entertainment’s indirect wholly owned subsidiary Zip Cinema for The Priests 2, the sequel to The Priests, which was one of South Korea’s most commercially successful theatrical films in 2015, it said.

Spackman Entertainment

Pheim Asset Management ceased to be a substantial shareholder of Spackman Entertainment after the issuance of additional shares as part of a share sale and purchase agreement between Spackman Entertainment and some existing shareholders of its associated company, Spackman Media Group, it said in a filing to SGX after the market close on Thursday.

Pheim Asset Management’s deemed interest due to shares held in client accounts fell to 4.58 percent from 5.13 percent, although its total number of shares remained at 40,634,800, it said.

Tan Chong Koay’s deemed interest also fell to 7.97 percent after the transaction from 8.93 percent previously, although the number of shares he was deemed to have an interest in remained at 70,750,800, it said in a separate SGX filing. Tan is deemed to have an interest because of his shareholdings in Pheim Asset Management and Pheim Asset Management (Asia), it said.

Spackman Entertainment’s issued share capital rose to 887,165,608 shares excluding treasury shares after the transaction, compared with 792,531,574 shares before the deal, it said.

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