UPDATE: Singapore stocks to watch Tuesday: CapitaLand, Stamford Land, Delong, Yongnam, Ezion

Singapore’s central business district (CBD) with CapitaLand and Singtel buildings; taken September 2018.CapitaLand and Singtel buildings in Singapore’s central business district.

These are the Singapore stocks which may be in focus on Tuesday 2 October 2018:

CapitaLand

CapitaLand said on Tuesday it took a 50 percent stake in coworking operator The Work Project  for an aggregate S$27 million as it launched an effort to combine an office building’s “core” conventional space with flexible space which includes co-working areas.

“Under CapitaLand’s core-flex model, conventional office tenants will have any new, flexible requirements met while small and medium enterprises in coworking spaces could choose to lease conventional workspaces as they grow,” the company said in a filing to SGX on Tuesday before the market open.

Read more: CapitaLand invests in Work Project as it moves to combine traditional and co-working office spaces

Stamford Land

Stamford Land shareholder Mano Sabnani, who the company has accused of defamation in a filing in Singapore’s courts, has submitted a defense, denying the allegations as well as re-stating concerns about how the annual general meeting (AGM) was conducted, according to a document obtained by Shenton Wire on Monday.

Read more: Shareholder in Stamford Land case denies defamation allegations

Delong Holdings

Delong Holdings requested a trading halt before the market open on Tuesday pending the release of an announcement.

Last week, Delong Holdings’ CEO and executive chairman Ding Liguo made an offer via special purpose vehicle Best Grace Holdings to acquire all of the company’s shares for S$7.00 each.

Yongnam Holdings

Yongnam Holdings CEO and Managing Director Seow Soon Yong, or SY, acquired 21.49 million shares in an off-market transaction at S$0.1948 each on Friday, to protect his interest in the company after a loan deal went south, it said in a filing to SGX after the market close on Monday.

Read more: Yongnam CEO buys shares in off-market deal after soured loan agreement

Ezion Holdings

Ezion Holdings said on Monday it was reminding shareholders that the conversion prices of some of its bonds would reset from 13 October.

The conversion price of its series B convertible bonds and its amended series 008 securities will reset on 13 October from S$0.2763 to the higher of that price or the six-month volume weighted average price prior to 13 October, it said in a filing to SGX after the market close on Monday.

That conversion price will apply from 13 October 2018 to 12 April 2019, when it will reset again, it said.

In addition, as of 13 October, security holders who exercise their conversion rights for either of the two bond series will no longer be entitled to receive bonus warrants, it said.

Oxley Holdings

Oxley Holdings said on Monday that its Mayfair Gardens condo project in Singapore was 40 percent sold, with 87 units out of the 215 total purchaed during its 29-30 September launch period.

The average price for the 87 units sold was S$1,900 a square foot, with sizes sold ranging from one- to four-bedroom units, and three of six penthouses sold, it said in a filing to SGX on Monday.

The buyers were 85 percent Singaporean, with the remainder made up of both permanent residents and foreigners, it said.

Wheelock Properties (Singapore)

Star Attraction and its related parties own or has received acceptances of its offer for 88.17 percent of Wheelock Properties (Singapore) shares as of the close of 1 October, it said in a filing to SGX on Monday.

Star Attraction, a wholly-owned indirect subsidiary of Hong Kong real estate giant Wheelock and Company, offered S$2.10 for all of the shares of Wheelock Properties it didn’t already own; the offer closes on 2 October.

Sasseur REIT

Sasseur REIT’s manager said on Monday that its Heifei and Kunming Outlets had sales of more than 160 million yuan during the 17-day anniversary sale period from 8 September through 24 September. The two outlets opened in 2016 and are the initial REIT portfolio’s “younger” outlets, it said in a filing to SGX on Monday.

“We believe that there is still strong upside potential for the younger outlets of the initial portfolio to grow their sales, and this should contribute to better sustainable income growth and greater shareholder value for the unitholders,” Anthony Ang, CEO of Sasseur REIT manager, said it the statement.

Accrelist

Accrelist acquired a chain of four Refresh Laser Clinics for S$4.0 million, entering the aesthetic medical services business, with plans to expand the network using its crowdfunding platform, WE Crowdfunding, it said on Monday.

“The diversification into the aesthetic medical services sector is in line with the group’s strategy to broaden its revenue stream and provide shareholders with diversified returns,” Terence Tea, Accrelist’s executive chairman and managing director, said in the filing to SGX after the market close on Monday.

Read more: Accrelist buys four Refresh Laser Clinics and plans crowdfunding to expand

Thakral

Thakral Corp. said on Monday that it acquired three properties in Osaka, Japan, with a total value of around 5.46 billion yen, or S$66 million, under a new “pooled” investment structure.

The acquisitions are part of Thakral’s overall strategy to broaden its asset and earnings base in Japan amid the country’s strong economic fundamentals and a tourism boom, it said.

Read more: Thakral: Acquired 3 Osaka properties valued at around S$66 million

Jumbo Group

Jumbo Group said on Monday that it opened its first franchised Jumbo Seafood restaurant in Fuzhou, China, bringing its total outlets in Asia to 15.

It followed a franchise agreement signed by Le Xie F&B Management (Fujian) on 29 September for the rights to establish and operate the Jumbo Seafood outlet in Fuzhou for an initial term of five years, with the potential to be renewed for another five years, it said.

Read more: Jumbo Seafood to open first franchised restaurant in Fuzhou, China

Swiber

Swiber said on Monday that the term sheet for its proposed acquisition of all of Interlink Power & Energy has terminated due to the expiration of the long stop date, which had been extended to 30 September 2018 from 31 March 2018.

Q&M Dental

Q&M Dental said on Monday that it could not reach an agreement with the sellers of a 60 percent stake in CJ Group (Holdings) and the proposed acquisition has been aborted.

This article was originally published on Tuesday 2 October 2018 at 8:10 A.M. SGT; it has since been updated with an item on Accrelist.

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