UPDATE: Singapore stocks to watch Tuesday: SPH, Keppel REIT, ST Engineering, Hyflux, SIA, Spackman

These are the Singapore shares which may be in focus on Tuesday 16 October 2018:

Singapore Press Holdings

Singapore Press Holdings reported on Monday that its fiscal year net profit fell 19.7 percent on-year to S$281.11 million on the absence of a year-earlier one-off gain from a divestment of a joint venture.

Read more: UPDATE: SPH: Fiscal year net profit fell nearly 20 percent amid year-earlier gain

Keppel REIT

Keppel REIT reported on Monday that its net property income for the third quarter fell 10.9 percent on-year to S$28.20 million amid lower income from Ocean Financial Centre, 275 George Street and 8 Exhibition Street.

Read more: UPDATE: Keppel REIT: 3Q18 net property income fell nearly 11 percent, missing analyst forecast

ST Engineering

ST Engineering said on Monday that its aerospace segment obtained new contracts of around S$590 million in the third quarter for services including airframe, engine and component maintenance and engine wash.

Read more: ST Engineering aerospace segment obtains S$590 million in new contracts in 3Q18

Singapore Airlines

Singapore Airlines passenger load factor (PLF) at the group level improved 2.8 percentage points on-year to 83.6 percent, the carrier said in a filing to SGX after the market close on Monday.

Read more: Singapore Airlines: September passenger loads improved


Hyflux said on Monday that it requested Maybank extend the 15 October deadline to execute a binding agreement with a successful bidder or investor in the Tuaspring divestment process by two weeks and that Maybank had given an in-principle approval through 29 October.

Maybank is the Tuaspring project’s main creditor.

Sunpower Group

Sunpower Group said on Monday that it would issued US$20 million in convertible bonds as well as warrants to fund its green investment related business.

Read more: Sunpower to issue US$20 million convertible bonds to fund green investment business

CapitaLand Retail China Trust

Prudential Corp. Asia ceased to be a substantial unitholder in CapitaLand Retail China Trust (CRCT) after selling 1.36 million units at S$1.3989 a unit in the market last week, it said in a filing to SGX after the market close on Monday.

Its deemed interest in CRCT fell to 4.98106 percent after the transaction from 5.12025 percent before it, the filing said.

Prudential Corp. Asia holds a deemed interest in units managed by its subsidiaries as fund managers, it said.

Prudential PLC’s deemed interest fell by the same amount due to the transaction, it said in a separate filing to SGX on Monday.

Yanlord Land

Yanlord Land said on Monday that its wholly owned subsidiary, Nanjing Renyuan Investment, acquired a 33 percent stake in Beijing-based Beijing Zhonggang International Property Development for 16.5 million yuan in cash.

The consideration has been fully paid, it said in a filing to SGX after the market close on Monday.

Beijing Zhonggang has registered capital of 50 million yuan and as of 30 June, it had net liability of around 9.3 million yuan, it said.

Vard Holdings

Fincantieri Oil & Gas said late on Monday that following the exit offer, it owned, controlled or had agreed to require 95.99 percent of Vard Holdings’ shares, or 1.132 billion shares.

It paid around S$26.97 million, or around 16.92 million euros, for shares tendered in acceptance of its exit offer, and around S$22.13 million for Vard shares acquired on the Singapore stock exchange, Fincantieri said in a filing to SGX late on Monday.

Trading in Vard shares was expected to be suspended at 9:00 A.M. SGT on Tuesday, it said. In a separate filing early on Tuesday, Vard Holdings said the delisting would take effect on 2 November.

Wheelock Properties

Wheelock Properties said on Tuesday that its shares will be delisted from the Singapore Exchange on 18 October; the share were suspended on 3 October after Star Attraction’s general offer for the company brought its stake above 90 percent.

Tee International

TEE International said on Tuesday that it obtained new engineering contracts valued at around S$58 million for asset enhancement initiative (AEI) and mechanical and electrical (M&E) engineering works for repeat and new clients.

Read more: TEE International obtains S$58 million in engineering contracts


Accrelist said on Monday that it increased its investment in its wholly owned subsidiary WE Crowdfunding, or WECF, by subscribing for an additional 50,000 shares for S$50,000.

“The further increased investment in WECF is to provide additional working capital for its business operation and to maintain the minimum base capital requirements of S$500,000 set by the Monetary Authority of Singapore, in relation to WECF’s application for a capital markets services licence to conduct the regulated activity of dealing in securities,” Accrelist said in a filing to SGX after the market close on Monday.

Accrelist funded the investment with internal resources and it isn’t expected to have a material impact on net tangible assets per share or earnings per share for the financial year ending 31 March 2019, it said.

After the investment, WECF’s share capital increased to 600,000 ordinary shares with an issued and paid-up capital of S$600,000 and one U.S. dollar share at US$1.00, it said.

Spackman Entertainment

Spackman Entertainment said on Monday said that the financial thriller film, Default, produced by its indirect, wholly owned subsidiary Zip Cinema, would be released in South Korea on 28 November.

Default is a thriller depicting a behind-the-scenes story of the week leading up to the IMF’s rescue package for South Korea to prevent bankruptcy during the Asian Financial Crisis in 1997, it said in a filing to SGX.

Singapore Post

Singapore Post said on Monday that its 97.29 percent-owned indirect, dormant subsidiary TradeGlobal Europe TGE, based in Germany, has been dissolved via a members’ voluntary liquidation. The liquidation isn’t expected to have a material effect on net tangible assets or earnings per share for the financial year ending 31 March 2019, it said in a filing to SGX after the market close on Monday.

This article was originally published on Tuesday 16 October 2018 at 7:34 A.M. SGT; it has since been updated to add an item on Wheelock Properties. 

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