Singapore stocks to watch Thursday: Singtel, Sembcorp, CapitaLand, Noble, Falcon

Singapore CBDSingapore CBD

These are the Singapore stocks which may be in focus on Thursday 11 October 2018:

Singtel

Optus Cyber Security, a wholly owned subsidiary of Singtel, has signed an agreement to buy all of Australia-based cyber-security consultant Hivint for a cash consideration of up to A$23.3 million, or around S$23 million, it said in a filing to SGX after the market close on Wednesday.

“This acquisition will strengthen Optus Business’ cyber security capabilities as Trustwave, the global cyber security arm of Singtel and Optus, integrates Hivint’s advisory services into Trustwave’s security offerings across Australia and the Asia Pacific,” the statement said.

Read more: Singtel: Subsidiary to buy Australia cyber-security consultant Hivint

Sembcorp Industries

Sembcorp Industries said on Wednesday that its 225-megawatt gas-fired power plant in Myanmar has begun full commercial operation after its first phase operation in May.

The facility will supply around 1,500 gigawatt hours of power to Myanmar’s Electric Power Generation Enterprise (EPGE) to provide power to around 5.3 million people, it said in a filing to SGX after the market close on Wednesday.

Read more: Sembcorp Industries: Myanmar power plant starts commercial operation

CapitaLand

CapitaLand said on Wednesday that some holders of its S$800 million 1.95 percent convertible bonds due 2023, issued in October 2013, have given irrevocable put exercise notices to redeem S$600.75 million of the bonds.

Under the bonds’ terms and conditions, CapitaLand will on 17 October redeem S$600.75 million in aggregate principal amount of the bonds, together with the accrued interest of S$5.87 million, it said in a filing to SGX after the market close on Wednesday.

After the redemption, the outstanding principal amount of the bonds will be S$199.25 million, it said.

Noble Group

Noble Group said on Wednesday that it disposed of its interest in Indonesia-based PT Kaltim Bio Energi, or KBE, to Wadash Enterprises for the nominal consideration of US$1.00 plus the buyer’s assumption of all outstanding payables owed by KBE.

That includes a US$10.4 million prepayment facility owed by KBE, and all current and outstanding environmental liabilities and mine closure and rehabilitation liabilities, it said in a filing to SGX after the market close on Wednesday.

The consideration for the deal, which won’t impact Noble’s proposed debt restructuring, was satisfied in cash, it said.

The book value and net tangible asset value attributable to KBE was around US$10.4 million, based on Noble’s results for the six months ended 30 June, it said.

City Developments

City Developments on Wednesday said that it formed two new subsidiaries.

Its indirect wholly owned subsidiary, Vita Investment Management, has incorporated a wholly owned subsidiary called Cheng Hong Management Consulting (Hangzhou) on 13 August in China with a registered capital of 10 million yuan for principal businesses including enterprise management consultation, marketing planning, hotel enterprise management and commission agency, excluding auction, it said in a filing to SGX on Wednesday.

Cheng Hong Management Consulting (Hangzhou) has in turn incorporated a wholly owned subsidiary called Cheng Han Management Consulting (Hangzhou) on 17 September in China with a registered capital of 10 million yuan with principal business of enterprise management consultation, business information consultation, marketing planning and hotel enterprise management, it said.

In addition, City Developments said Zenlion Investments, an indirect associated company, along with its wholly owned subsidiaries, Zenlead Investments and Zenmost Developments, have been struck off from the register.

Jardine Matheson and Jardine Strategic

JMH Investments, a wholly owned subsidiary of Jardine Matheson, acquired 649,500 shares of Jardine Strategic at US$35.10 to US$36.50 each, it said in a filing to SGX after the market close on Wednesday.

Jardine Matheson is a subsidiary of Jardine Strategic, which is subject to a requirement to maintain a free float of at least 15 percent, it said. JMH Investments will retain the Jardine Strategic shares, it said.

Singapore Post

Singapore Post said on Wednesday that it bought back 400,000 shares in the market at S$1.10 to S$1.12 each for a total consideration, including other costs of S$444,570.

Since the July 2018 start of the buyback mandate, SingPost has bought back 5.97 million shares, or 0.2637 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.

Accordia Golf Trust

Accordia Golf Trust’s manager said on Wednesday that it had 464,549 players in September, down 8.6 percent on-year, and a utilization rate of 74.5 percent in the month, which was down 6.0 percentage points on-year.

For the fiscal second quarter, the operator of 89 golf courses in Japan had 1.413 million players, down 9.5 percent on-year, with a 73.9 percent utilization rate, down 6.5 percentage points on-year, it said in a filing to SGX after the market close on Wednesday.

Stamford Land

Stamford Land said on Wednesday that it bought back 1,118,600 shares in the market at S$0.495 each for a total consideration, including other costs, of S$554,536.

Since the July 2018 start of the buyback mandate, Stamford Land has bought back 10,644,600 shares, or 1.234 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.

Falcon Energy

Falcon Energy’s board said on Wednesday that it was of the opinion that the company will be able to operate as a going concern.

That was in response to a query from SGX after the company said on Tuesday that its auditors, Deloitte & Touche LLP, issued a qualified opinion on its results and indicated “material uncertainties which may cast significant doubt on the group’s and the company’s ability to continue as a going concern” for the fiscal 2018 results.

Falcon said it believed it could continue as a going concern based on the ability to negotiate with principal and other lenders and finalize a debt restructuring plan and its ability to resolve with a secured lender an ongoing writ of summons and statements of claims.

It also said it had the ability to secure new charter contracts with better margin and positive cashflow and to generate sufficient cash flows from operations in the next year to meet obligations under the debt restructuring plan.

MindChamps Preschool

MindChamps Preschool said on Wednesday that Malaysian education group Victoria Education will become its master franchise in Malaysia, with plans to launch 20 MindChamps International PreSchool centers in the country.

Victoria Education plans to build the largest premium preschool campuses in Malaysia, offering MindChamps’ proprietary curriculum based on the “3 Minds model,” it said in a filing to SGX on Wednesday.

It plans a flagship campus in Kuala Lumpur of more than 10,000 square meters and capacity for 1,000 children, while a campus in Johor Bahru is expected to be more than 6,800 square meters and have capacity for 650 children, it said, adding that facilities may include a 20-meter indoor swimming pool.

SingHaiyi Group

SingHaiyi Group said on Wednesday that it bought back 150,000 shares in the market at S$0.09 each for a total consideration, including other costs, of S$13,549.

Since the July 2018 start of the buyback mandate, SingHaiyi Group has bought back 5,109,200 shares, or 0.119 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 19,500 shares in the market at S$0.048 each for a total consideration, including other costs, of S$979.20.

Since the July 2018 start of the buyback mandate, SunMoon Food has bought back 1.37 million shares, or 0.1904 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.

 

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