Singapore stocks to watch Tuesday: OUE, DBS, Yanlord, China Fibretech, China Everbright

Singapore CBD skylineSingapore CBD skyline

These are the Singapore stocks which may be in focus on Tuesday 11 September 2018:

OUE and OUE Commercial REIT

OUE Commercial REIT plans to acquire the office components of OUE Downtown in Singapore’s central business district from OUE’s wholly owned Alkas Realty for an aggregate purchase price of S$908.0 million, the REIT’s manager said in a statement dated Monday.

The proposed acquisition is expected to be partially funded by a renounceable rights issue of 1.288 million new units, which is expected to raise gross proceeds of around S$587.5 million, with the rest of the deal funded with debt, it said in the statement, which was filed to SGX just after midnight on Tuesday.

Read more: OUE Commercial REIT plans to acquire OUE Downtown office assets for S$908 million

DBS Group

DBS Group said on Monday it bought back 500,000 shares in the market at S$24.11 to S$24.35 each for a total consideration including other costs of S$12.13 million.

Since the April 2018 beginning of the buyback mandate, DBS has bought back 7,954,800 shares, or 0.3103 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 Monday.

CapitaLand Mall Trust

Singapore Labour Federation ceased to be a substantial unitholder of CapitaLand Mall Trust, with its deemed interest falling to 4.99 percent, or 177.34 million shares, from 5.03 percent, or 178.48 million shares, previously, the trust’s manager said in a filing to SGX after the market close on Monday.

That was after the sale in the market of 1.14 million units for S$2.41 million, it said.

The  National Trades Union Congress and NTUC Enterprise Co-operative also ceased to be substantial shareholders, with their deemed interest in CMT falling by the same amount, it said in two other filings to SGX on Monday.

Sembcorp Industries

Sembcorp Industries’ associate company Batamindo Shipping & Warehousing (BSW) signed a joint venture agreement with PT Tunaskarya Indoswata and incorporated a Batam-registered company, called PT Batamindo Services Sinindo, or PT BSS, it said in a filing to SGX after the market close on Monday.

BSW hold a controlling 68 percent stake in PT BSS, which has an initial issued and paid-up capital of US$250,000, while PT Tunaskarya Indoswata will hold the remaining 33 percent stake, it said.

PT BSS will engage in warehousing and distribution activities as the Indonesian service provider and agent of BSW, which provides warehousing and logistics services between Batam and Singapore, it said.

Sembcorp Industries will hold an effective 25.1 percent shareholding in PT BSS, it said.

Yanlord Land

Yanlord Land said on Monday that its wholly owned subsidiary Yanlord Land Pte. Ltd. (YLPL) acquired an 80 percent interest in Hong Kong-based Flourish Fair Ltd. (FFL), which in turn owns all of Zhuhai, China-based Zhuhai Maokai Eco Hi-Tech (ZMK).

The acquisition was made via an increase in FFL’s registered capital for HK$80, which was paid, it said in a filing to SGX after the market close on Monday. The net tangible asset value of ZMK as of end-June was around 15 million yuan, it said.

YLPL transferred its entire interest of wholly owned Nanjing Yu Dian Landscape Development (NYD) and Tianjin Yanlord Garden  (TYG) to ZMK for 2.1 million yuan in cash, in a move to consolidate its gardening businesses in Zhuhai, Tianjin and Nanjing, the filing said.

After the transfers, Yanlord Land’s interest in NYD and TYG, held through ZMK, fell to 80 percent from 100 percent, with the market value of the 20 percent disposal interest around 2.1 million yuan, it said.

PEC

PEC landed S$250 million worth of new contracts with existing clients in Asia and the Middle East, the oil and gas service provider said in a filing to SGX before the market open on Tuesday.

“The pickup in downstream investments in Asia and the Middle East – from the upgrading of existing infrastructure to the construction of new facilities – present opportunities for PEC,” Robert Dompeling, PEC’s CEO, said in the statement.

Read more: PEC lands S$250 million in new contracts in Asia, Middle East

China Fibretech

China Fibretech said on Monday that its wholly owned subsidiary Raffles (Chengdu) Investment and Development has signed a deal to form a consortium with China Railway Construction Corp. Ltd. 23 Bureau and Tianfu Railtech Valley to bid on infrastructure-related projects.

The consortium plans to bid for and secure infrastructure projects to improve accessibility and reduce environmental pollution, it said in a filing to SGX after the market close on Monday.

Read more: China Fibretech to form consortium to bid for infrastructure projects

Hi-P International

Hi-P International said on Monday it bought back 500,000 shares in the market at S$0.96 to S$0.98 each for a total consideration including other costs of S$484,774.

Since the April 2018 beginning of the buyback mandate, Hi-P has bought back 5,619,600 shares, or 0.695 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 Monday.

China Everbright Water

China Everbright Water said on Monday that it has signed a supplemental agreement with the management committee of Bin Zhou Economic and Technological  Development Zone in Shandong Province to expand the Binzhou Development Zone Waste Water Treatment Project.

The expansion will increase the Binzhou Project’s designed daily waste water treatment capacity by 20,000 cubic meters to 60,000 cubic meters, which will require an investment of around 66.69 million yuan, it said in a filing to SGX after the market close on Monday.

The Binzhou Project expansion will be constructed and operated on a built-operate-transfer model, it said.

Separately, construction of the Shandong Ji’nan Zhangqiu Chengdong Industrial Water Supply Project began recently, China Everbright said, noting it required an investment of 50 million yuan and the construction of 7.7 km of water supply pipeline and supply of water to Chengdong Industrial Park.

Q&M Dental

Q&M Dental said on Monday that it bought back 901,300 shares in the market at S$0.455 to S$0.49 each for a total consideration of S$432,294.

Since the April 2018 beginning of the buyback mandate, Q&M Dental has bought back 6,642,200 shares, or 0.84 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 Monday.

China Sunsine Chemical

China Sunsine Chemical said on Monday that it bought back 90,000 shares in the market at S$1.11 to S$1.13 each for a total consideration including other costs of S$100,410.

Since the April 2018 beginning of the buyback mandate, China Sunsine Chemical has bought back 240,000 shares, or 0.049 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 Monday.

APAC Realty

APAC Realty said on Monday that it completed its acquisition of HC Home, which will become a wholly owned subsidiary.

Accordia Golf Trust

Accordia Golf Trust said on Monday that it had 483,791 players on its golf courses in August, down 5.6 percent on-year, while its utilization rate was 73.9 percent, down 4.3 percentage points on-year, and below the three-year average utilization rate for August of 77.4 percent.

This article was originally published on Tuesday 11 September 2018 at 7:41 A.M. SGT; it has since been updated to include an item on PEC.

Get Shenton Wire headlines in your inbox