Singapore stocks to watch Monday: Keppel, ST Engineering, Chip Eng Seng, Stamford Land, Wilmar

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These are the Singapore stocks which may be in focus on Monday 8 October 2018:

Keppel Corp.

Keppel Singmarine has signed another two contracts with Stolt-Nielsen Gas to build two additional small-scale LNG carriers worth a total of around S$105 million, Keppel said in a filing to SGX on Sunday.

That was after Stolt-Nielsen Gas exercised its two out of three of its options in the original contract, signed in May 2017, to build two LNG carriers, it said. The first option lapsed in November 2017, with the remaining two now exercised, it said.

Read more: Keppel: To build another two LNG carriers worth around S$105 million for Stolt-Nielsen

ST Engineering

ST Engineering incorporated a new company, Keystone 6, in Ireland as a wholly owned subsidiary of Keystone Holdings (Global) in a move to expand its aircraft leasing business, it said in a filing to SGX on Friday after the market close.

Keystone Holdings, a 50-50 joint venture between ST Aerospace Resources and Singapore-based SJ Aviation Capital, is a holding company for aircraft leasing investments, the statement said, noting it has subsidiaries in several locations with a portfolio of aircraft currently being leased to global airlines.

Read more: ST Engineering sets up new company for aircraft leasing business

Wilmar International

Wilmar International said on Friday that it launched an “ambitious” plan to reach a No Deforestation, No Peat and No Exploitation (NDPE) compliant supply chain, independently verified by The Forest Trust (TFT) from 2020.

“This new action plan is us further strengthening our commitments and continuing to take the lead for sustainability in the oil palm industry,” Jeremy Goon, Wilmar’s chief sustainability officer, said in the statement filed to SGX on Friday.

Read more: Wilmar: To work with Forest Trust to accelerate sustainable supply-chain goals

Chip Eng Seng

Chip Eng Seng said on Friday that it received notification from seven shareholders that they entered a deal with Celine Tang to sell an around 29.73 percent stake in the company.

The deal, which was entered into on Friday, was for an aggregate 186.11 million of the company’s shares at S$1.08 each, it said in a filing to SGX after the market close on Friday.

Read more: Chip Eng Seng: Nearly 30 percent of shares to change hands

Sembcorp Industries

Sembcorp Industries said on Monday that it completed its 250-megawatt SECI 1 wind-power project in Tamil Nadu, in India, ahead of schedule.

The project, which was developed by company’s India power arm, Sembcorp Energy India Ltd. (SEIL), is the first delivery of installed capacity under India’s country-wide wind-power tenders, it said in a filing to SGX before the market open on Monday.

Read more: Sembcorp completes India wind-power project ahead of schedule

Stamford Land

Stamford Land and its minority shareholder Mano Sabnani reached an “amicable settlement of all differences” over allegations he had defamed the company and its directors, which had spurred the property developer to file a lawsuit, it said in a joint statement by the two parties, which was filed to SGX on Saturday.

The statement said the two parties would “bring this unhappy episode to an end,” and SGX was thanked for facilitating the settlement.

Read more: UPDATE: Stamford Land: Amicably settled lawsuit with minority shareholder Mano Sabnani

Mapletree Logistics Trust

Mapletree Logistics Trust’s manager said on Friday that the advanced distribution per unit for the 1 July to 27 September period would be 1.893 Singapore cents.

Unitholders whose securities accounts with the Central Depository were credited with units as of the close of 27 September will be entitled to the advanced distribution, which will be paid on or around 1 November, it said in a filing to SGX after the market close on Friday.

The holders of new units issued under the trust’s private placement, which were listed on 28 September, won’t be entitled to the advanced distribution, it said.

The next distribution for all unitholders will be for the 28 September to 31 December period, with regular quarterly distributions to resume afterward, it said.

Ascendas REIT

Ascendas REIT’s manager said on Friday that nine wholly owned subsidiaries of Griffin UK Logistics Fund, which the REIT acquired in its deal to buy a portfolio of 26 U.K. logistics properties, have obtained a three-year term loan facility of up to S$140 million and a four-year term loan facility of up to S$80 million.

Under the loan facilities, it is considered a default event if Ascendas Funds Management (S) is removed as the REIT’s manager and no substitute is appointed, it said, noting that if the event occurs it would affect around S$4.23 billion of facilities, debt issues and borrowing.

Hyflux

Troubled water and energy player Hyflux on Friday clarified that it is concurrently pursuing a divestment of its Tuaspring integrated water and power project and strategic investments in the overall business.

That was following a Bloomberg report earlier this week, citing people with knowledge of the matter, that Sembcorp Industries had emerged as the only remaining bidder for the Tuaspring project, the Business Times reported on Wednesday, citing people with knowledge of the matter.

Read more: Hyflux clarifies reports of single bidder for Tuaspring project

Lippo Malls Indonesia Retail Trust

Lippo Malls Indonesia Retail Trust’s manger has re-appointed Gouw Vi Ven as its executive director and CEO, with effect from 5 October, it said in a filing to SGX after the market close on Friday.

Gouw, age 62, was previously CEO of LMIRT Management from the listing of LMIR Trust in 2007 through April 2013, when she stepped down as CEO, but remained executive director through March 2017, it said.

Read more: LMIR Trust’s manager reappoints Guow Vi Ven as CEO

Raffles Medical Group

Raffles Medical Group said on Friday its wholly owned subsidiary Raffles Surgicentre (RSC) entered a deal to acquire another 171,000 shares, or a 25 percent interest, in International SOS (MC Holdings) from AEA International Holdings for a total consideration of US$1.77 million, or around S$2.44 million.

After the proposed deal is completed, RSC’s stake in MCH will rise to 80 percent from 55 percent, it said in a filing to SGX after the market close on Friday.

The deal will be funded with cash from the company’s internal resources and isn’t expected to have a material impact on earnings per share and net tangible assets per share for the current financial year, it said.

Soilbuild Business Space REIT

SB REIT Management, the manager of Soilbuild Business Space REIT, said on Friday that the proposed acquisitions of two Australia properties have been completed.

The total cost was A$120.96 million, or S$120.96 million, comprising the purchase consideration of A$55.00 million and A$61.25 million for 14 Mort Street and Inghams Burton respectively, and transactions costs of around A$3.55 million, it said in a filing to SGX after the market close on Friday.

The acquisition was funded by debt financing in Australian dollar loans and the issuance of perpetual securities, it said.

Soilbuild REIT now owns 11 properties in Singapore and two in Australia, it said.

Keppel T&T

Keppel Telecommunications & Transportation said on Friday that its subsidiary, Kloud Tech (Shanghai), incorporated a wholly owned subsidiary, Kloud Info Tech (Shanghai), in China to engage in information technology, multimedia technology, data center technology and provide technical advice and services.

Kloud Info Tech (Shanghai) will have share capital of 1 million yuan, it said in a filing to SGX on Friday after the market close.

Golden Agri-Resources

Golden Agri-Resources said on Friday that its 50 percent-owned joint venture company, Golden-Agri Stena (GASPL) entered a shareholders’ agreement with Bay Crest Management (BCMPL) to manage and operate tankers for the freight business.

GASPL and BCMPL will incorporate a new company with an initial investment of US$2 million, contributing 51 percent and 49 percent respectively, for the new company’s working capital and day-to-day operations, it said in a filing to SGX after the market close on Friday.

BCMPL brings experience in cargo shipping to the new company, it said.

Jardine Matheson and Jardine Strategic

JMH Investments, a wholly owned subsidiary of Jardine Matheson, acquired 350,000 shares of Jardine Strategic in the market at US$35.35 to US$36.13 each, it said in a filing to SGX after the market close on Friday.

Jardine Matheson is a subsidiary of Jardine Strategic, it said. JMH Investments will retain the Jardine Strategic shares, it said, noting that Jardine Strategic is required to maintain an at least 15 percent free float.

CapitaLand

CapitaLand said on Friday that it established a wholly owned subsidiary, Luminosity Real, in Singapore with an issued and paid-up capital of S$1, comprising one ordinary share, for the principal activity of global shares services.

Thai Beverage

Thai Beverage said on Friday that its wholly owned subsidiary Thai Beverage Recycle and Thai Malaya Glass, which is a wholly owned subsidiary of Berli Jucker, agreed to extend the expiry date of their agreement to purchase various types of new glass bottles from 31 December 2018 to 31 December 2021.

The new agreement also included changes to purchase prices, based on changes in the cost of certain major materials, and additional charges on a change of glass colors and designs as wells as an increase in purchase volume, it said in the filing to SGX after the market close on Friday.

Delong Holdings

Delong Holdings requested on Friday a mandatory suspension of its shares pending an announcement from the Best Grace Holdings, which has made an offer to acquire all of the company’s shares.

“The company will continue to engage the offeror to expedite the release of any material announcement and lift the suspension,” Delong said in a filing to SGX on Friday.

Read more: Delong Holdings requests mandatory suspension of shares

Courts Asia

Courts Asia appointed Dominic Wong as its new group chief operating officer, effective 15 October, taking over from Stan Kim, who had served in the role since February in addition to his role as group chief innovation officer, the home appliance and furniture retailer said in a filing to SGX on Friday.

Read more: Courts Asia appoints Dominic Wong as new chief operating officer

Vividthree

Vividthree is launching its “Train to Busan” virtual reality (VR) tour at the Busan International Film Festival (BIFF) from 6 to 9 October, the film-production and VR content producer said on Saturday.

The “Train to Busan” VR combined film and VR to offer “‘real-life’ zombie action,” Vividthree said in the statement filed to SGX on Saturday.

Read more: Vividthree launches ‘Train to Busan’ VR tour at Busan International Film Festival

Parkson Retail Asia

Department store operator Parkson Retail Asia said on Friday it obtained an undertaking from Parkson Holdings Bhd. to provide financial support for around a year after its auditor issued a “going concern” note.

The independent auditor, Ernst & Young, said in the audited financial statements for the fiscal year ended 30 June that there was “a material uncertainty that may cast significant doubt about the group’s ability to continue as a going concern,” the company noted in the filing to SGX after the market close on Friday.

Read more: Parkson Retail Asia: Obtained support from Parkson Holdings

Yoma Strategic Holdings

Yoma Strategic Holdings said on Saturday that its indirect wholly owned subsidiary Yoma F&B established a wholly owned subsidiary, called Blue Ridge Co., in Myanmar for use in connection with any new franchise business.

Blue Ridge has issued and paid-up capital of US$25,000, comprising 25,000 shares of US$1.00 each, it said.

DeClout and Procurri

Procurri said on Monday that the third-party company interested in acquiring the company is engaged in due diligence. The third party’s interested was flagged to the market in September.

“No definitive agreements have been entered into and there is no certainty that the possible transaction will be consummated,” Procurri said in the statement filing to SGX before the market open on Monday.

DeClout, which owns an around 47 percent stake in Procurri, echoed that notice to shareholders in a separate filing to SGX on Monday.

Japfa

Japfa said on Friday that it bought back 97,800 shares in the market at S$0.63 to S$0.635 each for a total consideration, including other costs, of S$62,358.

Since the April 2018 start of the buyback mandate, Japfa has bought back 575,000 shares, or 0.033 percent of its issued shares excluding treasury shares at the time the mandate began, it said in a filing to SGX after the market close on Friday.

Spackman Entertainment

Spackman Entertainment’s interim CEO and Executive Director Richard Lee acquired 400,000 shares in the company for S$17,600 in a market transaction on Thursday, it said in an SGX filing on Friday after the market close.

That raised Lee’s direct interest to 513,900 shares, or 0.058 percent of the company’s shares, from 113,900 shares, or 0.013 percent, previously, it said.

SunMoon Food

SunMoon Food said on Friday that it bought back 259,900 shares in the market at S$0.04962 each for a total consideration, including other costs, of S$12,945.

Since the July 2018 start of the buyback mandate, SunMoon Food has bought back 1,250,500 shares, or 0.1737 percent of its issued shares excluding treasury shares at the time the mandate began, it said in a filing to SGX after the market close on Friday.

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