Singapore stocks to watch Thursday: StarHub, CapitaLand, Swiber, Heeton, Datapulse

StarHub retail store at Singapore’s VivoCity mall; taken September 2018.StarHub retail store at Singapore’s VivoCity mall.

These are the Singapore stocks which may be in focus on Thursday 4 October 2018:

StarHub

StarHub plans to cut at least 300 full-time employees as part of a “strategic transformation” which aims to eliminate S$210 million in costs over a three-year period, the telco said in a statement on its website on Wednesday.

“Recognizing the inevitable pressures from intense local competition and adverse industry trends, StarHub has also initiated an operational efficiency program to improve productivity, improve speed in decision making and lower operating expenditure across the board,” the telco said. “The strategic review process has also unfortunately resulted in the conclusion that a reduction of workforce is required.”

Read more: StarHub: Workforce cuts of at least 300 full-time employees in ‘efficiency’ drive

Swiber

Swiber said on Wednesday that it agreed to a proposed US$200 million investment from containership operator Seaspan in a deal that will bolster the troubled offshore construction company’s LNG power project in Vietnam.

“We believe that this deal offers a step forward in reviving Swiber as a going concern, and delivering a positive outcome for creditors and shareholders,” Judicial Manager Bob Yap, who is also head of advisory at KPMG in Singapore, said in the statement.

Read more: Swiber inks deal to receive US$200 million investment from Seaspan

CapitaLand

CapitaLand obtained a S$300 million multi-currency sustainability-tied loan from DBS Bank, in a deal that may be the first and largest sustainability-linked facility in Asia’s real-estate sector, it said in a filing to SGX before the market opened on Thursday.

The five-year term loan and revolving credit facility is tied to CapitaLand’s listing on the Dow Jones Sustainability World Index (DJSI World), which tracks companies’ environmental, social and governance (ESG) efforts,” CapitaLand said. It added that it was the highest ranked of the two Singapore companies in the index this year.

Read more: CapitaLand secures S$300 million sustainability-tied loan from DBS

SGX RegCo

Singapore Exchange Regulation will work to create a “best practices” guide for directors and investors during annual general meetings (AGMs) and other shareholder meetings, said Tan Cheng Han, chairman of SGX RegCo, on Wednesday.

The project will be created jointly with the Securities Investors Association (Singapore), or SIAS, and the Singapore Institute of Directors, or SID, he said in a speech at the Singapore Institute of Directors’ Directorship Report 2018 launch.

Read more: SGX RegCo plans to create AGM conduct guide

Heeton, KSH and Lian Beng

A Singapore consortium of Heeton Holdings, KSH Holdings and Lian Beng Group has acquired the Hotel Indigo Glasgow in Glasgow, Scotland, it said in a filing to SGX after the market close on Wednesday.

Heeton will hold an effective 60 percent of the consortium’s first hospitality asset in Scotland, while KSH and Lian Beng will each take a 20 percent interest, it said. Heeton already has one hospitality asset in Scotland, it noted.

Read more: Heeton, KSH and Lian Beng tie up to acquire hotel in Glasgow

Sembcorp Industries

Sembcorp Industries said it bought back 200,000 shares at S$3.08148 each for a total consideration, including other costs, of S$617,038.

Since the April 2018 start of the buyback mandate, Sembcorp Industries has bought back 1.8 million shares, or 0.101 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.

Singapore Post

Singapore Post said it bought back 800,000 shares in the market at S$1.12 to S$1.13 each for a total consideration, including other costs, of S$904,199.

Since the July 2018 start of the buyback mandate, SingPost has bought back 5.57 million shares, or 0.2461 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.

Jardine Matheson and Jardine Strategic

JMH Investments, a wholly owned subsidiary of Jardine Matheson Holdings, acquired 318,300 shares of Jardine Strategic Holdings in the market at US$36.44 to US$37.75 each, it said in a filing to SGX after the market close on Wednesday.

JMHI will retain the Jardine Strategic shares it purchased, it said. Jardine Matheson is a subsidiary of Jardine Strategic, it said.

Jardine Strategic is required to maintain a free float of at least 15 percent, the filing said.

StarHub

StarHub said on Wednesday that it excercised its right for the early completion of acquiring 19.6 percent of Accel Systems & Technologies (ASTL) from Tham Soh Mui (Tan Sumei), Steve Ting Tuan Toon and Wong Swee Ping, Shirley.

That marked the third phase of StarHub’s acquisition of ASTL shares and it now holds all of the company, it said in the filing to SGX after the market close on Wednesday.

Datapulse Technology

Datapulse Technology said late on Wednesday that it entered a non-binding letter of intent on Monday with a South Korean private company to acquire a hotel located near the Myeongdong district in Seoul, South Korea.

The LOI will give Datapulse exclusivity to conduct due diligence and negotiate an agreement for the proposed acquisition, it said in a filing to SGX after the market close on Wednesday.

“The board believes that the proposed acquisition will provide the company with an additional and recurring revenue stream. It will be a catalyst into the property sector in general and the hospitality sector specifically which the board believes has strong growth potential,” Datapulse said.

In a separate filing on Wednesday, Datapulse said that it would seek shareholder approval at an extraordinary general meeting (EGM) to specifically include hotels and hospitality assets within the existing approval for the company to invest in property development and investments. It said it planned to engage third-party service providers for hotel or hospitality management services for any sector assets it may acquire and that it did not intend to provide those services as part of the proposed mandate expansion.

Viva Industrial Trust

Viva Industrial Trust requested on Wednesday a mandatory suspension of its stapled securities on SGX, with effect from 9:00 A.M. SGT on Thursday as part of its proposed merger with ESR-REIT.

Ezra

Ezra said on Wednesday that as of Monday, the High Court of Singapore granted the company leave to withdraw its scheme application.

The scheme of arrangement application had been made to seek the court’s leave to convene a meeting of Ezra’s creditors to consider and potentially approve its restructuring proceedings, it said.

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