Singapore stocks to watch Thursday: Venture, CCT, DBS, Del Monte Pacific, Aspial, Synagie

Singapore CBDSingapore CBD

These are the Singapore stocks which may be in focus on Thursday 13 September 2018:

Venture Corp.

Venture Corp. may be in focus after reports that the U.S. Food & Drug Administration proposed restrictions on e-cigarettes to counter an “epidemic” of use by youth.

Venture Corp. is believed to be a manufacturer for Philip Morris’s IQOS smokeless tobacco device. Philip Morris describes IQOS as a hybrid between “analog” and e-cigarettes.

But the company has been seeking approval to launch IQOS in the U.S. and the FDA’s move may harm sentiment.

In July, Credit Suisse estimated IQOS made up 12-18 percent of group revenue and nearly 38 percent of revenue growth last year.

CapitaLand Commercial Trust

CapitaLand Commercial Trust signed a one-year lease extension for all of 21 Collyer Quay with HSBC on Wednesday, with the total rent payable for the term beginning 30 April 2019 at S$27.7 million, the trust manager said on Wednesday.

Read more: CapitaLand Commercial Trust signs lease extension with HSBC for 21 Collyer Quay

DBS

DBS said on Wednesday that it bought back 450,000 shares in the market at S$24.09 to S$24.34 each for a total consideration, including other costs, of S$10.89 million.

Since the April 2018 beginning of the buyback mandate, DBS has bought back 8,404,800 shares, or 0.3278 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 Wednesday.

OCBC

OCBC said on Wednesday that it bought back 100,000 shares in the market at S$10.99 each for a total consideration, including other costs, of S$1.1 million.

Since the April 2018 beginning of the buyback mandate, OCBC has bought back 6.025 million shares, or 0.144 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 Wednesday.

Singapore Exchange

Singapore Exchange said on Wednesday that it bought back 120,000 shares in the market at S$7.26 to S$7.29 each for a total consideration, including other costs, of S$874,141.

Since the September 2017 beginning of the buyback mandate, Singapore Exchange has bought back 1.367 million shares, or 0.1 percent of the issued shares excluding treasury shares at the time the mandate started, it said in an SGX filing after the market close on Wednesday.

Singapore Post

Singapore Post said on Wednesday that it bought back 350,000 shares in the market at S$1.06 each for a total consideration, including other costs, of S$371,476.

Since the July 2018 start of the buyback mandate, SingPost has bought back 3.93 million shares, or 0.1736 percent of the issued shares excluding treasury shares at the time the mandate began, it said in a filing to SGX after the market closed on Wednesday.

Del Monte Pacific

Del Monte Pacific reported on Wednesday that its fiscal first quarter net profit surged 308.4 percent on-year to US$3.02 million due to one-off items despite a decline in sales.

A one-off gain of US$12.5 million post-tax was due to the additional purchase of US$99.0 million of 89.4 percent owned U.S. subsidiary Del Monte Foods Inc.’s (DMFI) second lien loan at a discount in the secondary market, Del Monte Pacific Ltd. (DMPL) said in a filing to SGX after the market close on Wednesday.

Read more: Del Monte Pacific reports fiscal 1Q19 net profit surged four times due to one-off gain

ARA Asset Management

ARA Asset Management said on Wednesday that its net profit for the first half rose 37.08 percent on-year to S$62.60 million, while revenue increased 11 percent on-year to S$90.29 million.

Its gross assets under management by the group and its associates was around S$78 billion, while its directly managed AUM was around S$44 billion, it said in a filing to SGX after the market close on Wednesda.

It said its new initiatives included an accumulation of a 20.94 percent strategic stake in Kenedix, establishment of a Europe desk and infrastructure fund management division, acquisition of a 19.47 percent strategic stake in Cromwell Property Group on 1 June and the establishment of a property management arm for ARA in Australia.

Shares of ARA Asset Management were delisted in April of this year.

Aspial Corp.

Aspial Corp. said on Thursday it would buy back some of its notes due in 2018 and 2019 with a 10 basis point premium and to exchange some those notes for notes due in 2021.

“The group’s real estate business is expected to contribute significantly to the group’s revenue and profitability from fiscal year 2018 to fiscal year 2020 based on the expected completion and settlement of the group’s ongoing development projects in Singapore and Australia,” Aspial said in a filing to SGX before the market open on Thursday.

Aspial said it was planning to use part of the cash proceeds it has received or is expecting to receive from the real-estate business to purchase the notes, it said.

Read more: Aspial offers to buy back certain 2018 bonds at premium

Sasseur REIT

Sasseur REIT’s sponsor, Sasseur Cayman Holding (Sasseur Group) has signed a memorandum of strategic partnership with Secoo Holding, which has one of Asia’s largest online platforms for upscale products and services, to target China’s growing luxury consumer market, the REIT’s manager said on Wednesday.

“Through the sharing of resources in the areas of merchandise, brands, membership, payment, consumer financing, customer service and big data solutions, it will allow both companies to leverage on one another’s strengths so as to capitalise on the immense opportunities offered by China’s rising middle-class population,” it said in a filing to SGX after the market close on Wednesday.

Read more: Sasseur REIT’s sponsor enters tie-up with Secoo to target China luxury consumer market

ESR-REIT

ESR-REIT’s manager said on Wednesday that Shane Hagan, the chief operating officer and chief financial officer, has decided to leave the company in the coming months to pursue his own interests. Hagan “will support an orderly and smooth transition” by remaining with the company until the end of October, it said.

Nancy Tan, head of real estate, will take over all operational and investment matters relating to ESR REIT, while Amy Low, financial controller, will be apppointed acting chief financial officer while a successor is sought, it said in a filing to SGX after the market close on Wednesday.

Synagie

E-commerce player Synagie reported on Wednesday its first half loss nearly tripled to S$3.44 million, from a loss of S$1.15 million in the year-earlier period, amid higher expenses.

Revenue for the six months ended 30 June rose 132.4 percent to S$6.87 million, it said in a filing to SGX after the market close on Wednesday.

Read more: Synagie reports first half net loss nearly triples on higher expenses

Synagie

Han Seng Juan acquired 1 million shares of Synagie for S$190,000, bringing his direct stake in the company to 0.38 percent from zero previously, it said in a filing to SGX after the market close on Wednesday.

Han also holds a deemed interest in Synagie via Agate Investments holding of 11.6 percent, or 30.37 million shares, it said. Agate Investments is wholly owned by Centurion Equity Private Ltd. (CEPL), which is in turn wholly owned by Centurion Global Ltd. (CGL). Han owns a 50 percent stake in CGL. CEPL was a seed investor in Synagie.

Moya Holdings Asia

Moya Holdings Asia said on Wednesday its subsidiary PT Aetra Air Jakarta (AAJ) and its partner PT Medco Gas Indonesia (MGI) were awarded a project to build a water treatment facility in Indonesia.

The project was put up for tender by Perusahaan Daerah Air Minum Tirta Modal (PDAM), the municipal water company of Semarang City, Central Java, Indonesia, it said in a filing to SGX after the market close on Wednesday.

Read more: Moya Holdings lands project to build water treatment facility in Indonesia

Hiap Seng Engineering

Hiap Seng Engineering said on Wednesday it accepted an offer from JTC Corp. to extend its leases to August 15, 2038, for its properties at 24, 28,  and 30 Tuas Crescent for .leases which have or will expire on 31 May 2019, 15 August 2018 and 31 May 2019, respectively.

The conditions call for Hiap Seng to make an aggregate investment on plant and machinery at the lots of at least S$18.06 million, of which S$14.74 million must consist of new investments on plant and machinery, within the development period through 13 August 2021, it said in a filing to SGX after the market close on Wednesday.

Read more: Hiap Seng gets lease extensions for Tuas Crescent properties, conditional upon development

Stamford Land

Stamford Land said on Wednesday that it bought back 932,900 shares in the market at S$0.485 to S$0.49 each for a total consideration, including other costs, of S$457,339.

Since the July 2018 beginning of the buyback mandate, Stamford Land has bought back 6,066,700 shares, or 0.702 percent of the issued shares excluded treasury shares at the mandate’s start, it said in a filing to SGX after the market close on Wednesday.

Roxy-Pacific Holdings

Roxy-Pacific Holdings said on Wednesday that it bought back 200,000 shares in the market at S$0.40 each for a total consideration, including other costs, of S$80,248.

Sicne the April 2018 beginning of the buyback mandate, Roxy-Pacific has bought back 6,582,400 shares, or 0.5531 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 Wednesday.

Ryobi Kiso

Ryobi Kiso said on Wednesday that it applied to Singapore Exchange Securities Trading, or SGX-ST, for an extension of time to hold its annual general meeting for the financial year ended 30 June.

“The company is currently undertaking a court supervised reorganisation process, and a significant amount of attention and resources have been focused on working with its advisors on the reorganization process,” it said in a filing to SGX after the market close on Wednesday. “The company is also experiencing a strain on manpower resources given that a number of employees in the accounts department have recently left the employment of the group.”

It said it was working with its external auditor to complete the audit for fiscal 2018, but due to “the complexity of the issues” which need addressing, it expected it would need more time to prepare the annual report and therefore would need an extension for the AGM.

Japan Foods Holding

Japan Foods Holding said on Wednesday it bought back 75,300 shares in the market at S$0.495 each for a total consideration, including other costs, of S$37,489.

Since the July 2018 beginning of the buyback mandate, Japan Foods has bought back 349,800 shares, or 0.201 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 Wednesday.

SunMoon Food Company

SunMoon Food Company said on Wednesday that it entered into a term sheet to borrow S$1 million from DiMuto for a three-month duration at 8.5 percent per annum.

“The company is of the view that the DiMuto Facility is beneficial to the group as this will strengthen the group’s working capital position, reduce reliance on financial institutions and/or banks and help to address any immediate financing issues which the company may face,” it said in a filing to SGX after the market close on Wednesday.

“The board is also of the view that the interest-rate of the DiMuto Facility is reasonable,” it said.

In August, SunMoon Food entered into a subscription agreement with DiMuto for a non-exclusive license to use DiMuto’s platform for its business operations, it noted.

Correction: This article was originally published at Thursday 13 September 2018 at 8:20 A.M. SGT; it has since been updated to correct the day in the headline to Thursday. 

 

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