Singapore stocks to watch Wednesday: OUE, Wilmar, Golden Agri, Noble, Ascott Residence Trust

Shophouses in Geylang, SingaporeShophouses in Geylang, Singapore

These are the Singapore stocks which may be in focus on Wednesday 26 September 2018:

OUE

OUE said on Tuesday that its subsidiary, PT OUE Pengembangan Properti entered a deal to buy plots of land in the central business district of South Jakarta, Indonesia, from PT Asiatower Sudirman for around 1.629 trillion rupiah, or around S$150 million.

The land plots have a total area of around 8,000 square meters and it is currently zoned as commercial and is located within Jakarta’s prime commercial area, it said in the filing to SGX after the market close on Tuesday.

The consideration will be paid via assignment of promissory notes held by OUE Pengembangan Properti, it said.

Wilmar

Wilmar said on Tuesday that it established three subsidiaries and a joint venture company.

The first is Morocco subsidiary Cosumar Wilmar, which will produce, process and trade in vegetable fats, and which is a 55 percent owned subsidiary of wholly owned subsidiary Wilmar Resources, it said in a filing to SGX on Tuesday.

The remainder of Cosumar Wilmar is held by Casablanca-listed Cosumar SA, which is an indirect 29.91 percent-owned Wilmar associate, the filing said. Cosumar Wilmar will have an issued capital of around US$350,000, it said.

Read more: Wilmar establishes three subsidiaries and a joint venture company

Golden Agri-Resources

Golden Agri-Resources said on Tuesday that its indirect subsidiary, Golden Agri International India Holding (GAIIH), entered a conditional deal for Black River Food 2 to subscribe for new shares in GAIIH’s 75 percent-owned subsidiary, Gemini Edibles & Fats India (GEFI).

Black River Food 2, an investment fund managed by Proterra Investment Partners, will participate in 25 percent of the enlarged issued and fully paid-up share capital of GEFI, in a deal which will involve restructuring GEFI’s existing shareholdings, Golden Agri-Resources said in a filing to SGX after the market close on Tuesday.

Read more: Golden Agri: Proterra Investment fund to invest in indirect subsidiary Gemini Edibles

Noble

Noble said on Tuesday that Charles Schwab Corp. and its wholly owned subsidiary Charles Schwab Investment Management became substantial shareholders on Friday after the purchase of 5.6 million shares for a consideration of S$753,200.

Charles Schwab Investment Management’s direct interest in Noble rose to 5.3 percent from 4.88 percent after the transaction, while Charles Schwab Corp.’s deemed interest rose by the same amount, it said in a filing to SGX after the market close on Tuesday.

Ascott Residence Trust

Ascott Residence Trust’s manager said on Tuesday that it issued 5 billion yen, or around S$61.37 million, in 0.971 percent fixed rate notes due 2025 under its S$1 billion mulitcurrency medium term note program, established in September 2009.

The net proceeds of the issue will be used for refinancing existing borrowings, it said in a filing to SGX after the market close on Tuesday.

OCBC has been appointed as dealer for the notes, it said.

Chip Eng Seng

Chip Eng Seng said on Tuesday that its wholly owned Australia subsidiary, 242 West Coast Highway Scarborough Pty., entered a deal to sell its development site at 242 West Coast Highway, Scarborough, Western Australia, for A$24.5 million.

The proposed disposal, which is expected to contribute positively to net tangible assets and earnings per share for the current fiscal year, is expected to be completed on 1 November, Chip Eng Seng said in a filing to SGX after the market close on Tuesday.

The property is a freehold development site with an area of 10,165 square meters, it said.

Sasseur REIT

Sasseur REIT’s manager said on Tuesday that its wholly owned subsidiary, Hefei Sasseur Commercial Management, or Sasseur Hefei, had received notice that Zhongjian Sanju No.2 Construction Engineering, or ZS2, had initiated an action against it in the Anhui Higher People’s Court in China for around 148.4 million yuan and its legal costs.

ZS2’s action against Saseur Hefei was over a disagreement between the REIT’s sponsor and ZS2 over the final construction sum payable for the Sasseur (Hefei) Outlets, which was completed in May 2016, it said in a filing to SGX after the market close on Tuesday.

Read more: Sasseur REIT warns of potential litigation over Hefei Outlets’ construction

Vividthree

Film effects and virtual reality content maker Vividthree saw its shares close at S$0.23 each on their trading debut on Tuesday, below the placement offer price of S$0.25.

The shares traded in a S$0.225 to S$0.25 range on Tuesday on the Catalist board. Around 3.54 million Vividthree shares changed hands, valued at S$836,600.

Read more: Virtual reality player Vividthree shares fall on trading debut

OCBC

OCBC said on Tuesday that it bought back 100,000 shares in the market at S$11.48 each for a total consideration, including other costs, of S$1.15 million.

Since the April 2018 start of the buyback mandate, OCBC has bought back 6.525 million shares, or 0.156 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 Tuesday.

Singapore Post

Singapore Post said on Tuesday that it bought back 440,000 shares in the market at S$1.11 to S$1.13 each for a total consideration, including other costs, of S$493,036.

Since the July 2018 start of the buyback mandate, SingPost has bought back 4.77 million shares, or 0.2107 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 Tuesday.

Stamford Land

Stamford Land said on Tuesday that it bought back 88,900 shares in the market at S$0.495 each for a total consideration, including other costs, of S$44,071.

Since the July 2018 start of the buyback mandate, Stamford Land has bought back 7,848,900 shares, or 0.908 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 Tuesday.

SunMoon Food

SunMoon Food said on Tuesday that it bought back 40,000 shares in the market at S$0.049 each for a total consideration, including other costs, of S$2,004.

Since the July 2018 start of the buyback mandate, SunMoon Food has bought back 686,000 shares, or 0.0953 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 Tuesday.

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