Update: Singapore stocks to watch Thursday: Keppel, SPH, SGX, Creative, China Jinjiang

Bugis street scene in Singapore; taken July 2018.Bugis street scene in Singapore; taken July 2018.

These are the Singapore stocks which may be in focus on Thursday 27 September 2018:

Keppel, SPH, Keppel T&T and M1

Both Keppel Corp. and Singapore Press Holdings, or SPH, requested trading halts on their shares before the market open on Thursday, pending the release of an announcement.

Read more: Keppel Corp, SPH request trading halts before market open Thursday

Singapore Exchange

Singapore Exchange was named Asia-Pacific derivatives exchange of the year by GlobalCapital for a fifth straight year, the Singapore bourse said in a statement on Wednesday.

“SGX, which clinched the award over four other nominees, demonstrated its commitment to providing international investors with unfettered access to Asian emerging markets. SGX also played to its core strength as Asia’s most international and connected exchange, providing liquidity risk management with the longest trading hours in the region,” the exchange said in the statement.

OUE Hospitality Trust

OUE Hospitality REIT Management, the manager for OUE Hospitality Trust, said Gan Chee Teik will leave his position as chief financial officer of the manager and as OUE Hospitality Trust Management, with effect from 28 September, it said in a filing to SGX after the market close on Wednesday.

Gan will be pursuing other professional interests, it said, adding that the manager and the trustee were in the process of searching for a suitable candidate to replace him.

Creative Technology

Creative Technology said on Wednesday it had “phenomenally strong” sales at the launch of its Super X-Fi online store and its new product, the SXFI AMP dongle on Monday.

“I’m truly blown away by the initial whirlwind sales reaction to the launch of the SXFI AMP. In barely 20 minutes we clocked in an amazing 600 units sold,” Sim Wong Hoo, CEO of Creative, said in the filing to SGX after the market closed on Wednesday.

Read more: Creative Technology boasts of strong sales for its SXFI AMP dongle launch

OCBC

OCBC said on Wednesday that it bought back 100,000 shares in the market at S$11.49 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 6.625 million shares, or 0.158 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 Wednesday.

Frasers Property

Frasers Property said on Wednesday that its wholly owned subsidiary, Frasers (Australia), has acquired the 25 percent of Australia-based Frasers Mandurah it didn’t already own from Redgold Investment Holdings for A$1.

The deal pricing took into account the negative net asset value of Frasers Mandurah as of the end of August, based on its unaudited accounts, it said.

As part of the deal, a shareholder’s loan of A$2 million, or around S$2 million, which was owed by Frasers Mandurah to Redgold Investment Holdings, was repaid with funds that Frasers Mandurah borrowed from Frasers Australia, it said in a filing to SGX after the market close on Wednesday.

Sabana Shariah Compliant Industrial REIT

Sabana Shariah Compliant Industrial REIT’s manager said late on Wednesday that it would sell the Geo-Tele Centre to ADC Singapore Trust for S$99.6 million, more than double its last valuation.

The property, located at 9 Tai Seng Drive in Singapore, has an open market value of S$39.6 million, according to the latest property valuation report, which was dated 30 June, it said in a filing to SGX after the market close on Wednesday.

Read more: Sabana REIT to divest Geo-Tele Centre for more than double its last valuation

China Jinjiang Environment

China Jinjiang Environment said on Wednesday that its wholly owned subsidiary, Hangzhou Yuhang Jinjiang Environment Energy, signed a compensation agreement with the local government over the closure of its Hangzhou Yuhang waste-to-energy facility.

Under the agreement, Hangzhou Yuhang will receive total compensation of 289.84 million yuan, or around S$57.51 million, which includes land compensation, housing compensation and the fair value of equipment, it said in a filing to SGX after the market close on Wednesday.

Read more: China Jinjiang Environment: Compensation deal reached for closure of waste-to-energy facility

Addvalue Technologies

Addvalue Technologies said on Wednesday that it received a repeat order from a government agency for its in-house-developed high-end proprietary software define radio communication module, or SDR module, for advanced communications industries.

“This version of the SDR module is specially customised to meet the needs of the government agency and cannot be duplicated easily,” Addvalue said in the filing to SGX after the market close on Wednesday.

The total value of SDR module contracts from the government agency, including the repeat order, was around S$1.8 million, with the outstanding order expected to be fulfilled in the current financial year, it said. It noted that the government agency has the option to increase the order quantity at a pre-agreed price based on bulk purchase within the next 15 months.

Mapletree Logistics Trust

Mapletree Logistics Trust’s manager said on Wednesday that its acquisition of a portfolio of five logistics properties in Singapore has received approvals from JTC Corp. and from the shareholders of CWT International, which is the holding company of the seller.

MLT will be leasing the properties back to the seller after the deal is completed, it noted.

In a separate filing to SGX, MLT’s manager also said that the 309.92 million new MLT units issued at S$1.21 each as a private placement to fund the acquisition have received in-principle approval from the Singapore Exchange Securities Trading, or SGX-ST, to be listed on the main board of SGX.

China Everbright Water

China Everbright Water said on Thursday that in relation to its proposed dual primary listing on Hong Kong’s stock exchange, it had received approval in principle from SGX-ST for listing and quoting the new shares of the company.

The company plans to issue new shares for subscription at the proposed global offering in conjunction with the proposed Hong Kong listing and to issue new shares pursuant to the exercise of all options granted under its employee share option program, it said in a filing to SGX before the market open on Thursday.

But China Everbright Water noted there was no certainty the proposed Hong Kong listing and global offering would happen.

Roxy-Pacific Holdings

Roxy-Pacific Holdings said on Wednesday that an order for sale from Singapore’s High Court has been granted for the collective sale of the property, known as Wilshire, at land lot 2652A of MK2 at 22 Farrer Road.

HRnetGroup

HRnetGroup said on Wednesday that it bought back 200,000 shares at S$0.88 each for a total consideration, including other costs, of S$176,532.

Since the April 2018 start of the buyback mandate, HRnetGroup has bought back 6.79 million shares, or 0.6745 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 Wednesday.

Stamford Land

Stamford Land said on Wednesday that it bought back 35,400 shares at S$0.495 each for a total consideration, including other costs, of S$17,549.

Sicne the July 2018 start of the buyback mandate, Stamford Land has bought back 7,884,300 shares, or 0.912 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 Wednesday.

Silverlake Axis

Silverlake Axis said on Wednesday that it bought back 649,000 shares in the market at S$0.4268 each for a total consideration, including other costs, of S$277,519.

Since the October 2017 start of the buyback mandate, Silverlake Axis has bought back 181,827,400 shares, or 6.87 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 Wednesday.

SunMoon Food

SunMoon Food said on Wednesday that it bought back 52,100 shares at S$0.049 each, for a total consideration, including other costs, of S$2,597.

Since the July 2018 start of the buyback mandate, SunMoon Food has bought back 738,100 shares, or 0.1026 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 Wednesday.

This article was originally published on Thursday 27 September 2018 at 8:03 A.M. SGT; it has since been updated to include an item on China Everbright Water.

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