UPDATE: Singapore stocks to watch Tuesday: Mapletree Logistics, Keppel-KBS, Raffles Infrastructure, China Jinjiang

Street scene in Singapore’s Little India neighborhood; taken October 2018.Street scene in Singapore’s Little India neighborhood; taken October 2018.

These are the Singapore stocks which may be in focus on Tuesday 23 October 2018:

Mapletree Logistics Trust

Mapletree Logistics Trust reported on Monday net property income for the fiscal second quarter rose 14.6 percent on-year to S$90.19 million on organic growth in its existing portfolio and contributions from two recent acquisitions in Hong Kong.

Read more: Mapletree Logistics Trust fiscal 3Q net property income rises nearly 15 percent

Keppel-KBS US REIT

Keppel-KBS US REIT’s manager said on Monday that it would finance the acquisition of the Westpark Portfolio via a renounceable rights issue of 186.24 million new units to raise around US$93.1 million.

Read  more: Keppel-KBS US REIT sets rights issue to finance Westpark Portfolio acquisition

Raffles Infrastructure

Raffles Infrastructure said on Monday that its consortium signed a framework deal with the Tourist Board of the People’s Government of Dengfeng City, in China, to build tourist railways of around 70 kilometers with an estimated contract value of 6 billion yuan (US$864.70 million or S$1.19 billion).

Read more: Raffles Infrastructure: Consortium signs deal to build tourist railways for around 6 billion yuan

China Jinjiang Environment

China Jinjiang Environment said on Monday its wholly owned subsidiary, Wenling Green New Energy, has incorporated a wholly owned subsidiary, Wenling Jinhuan Environmental Protection Technology, in China as a project company to operated a waste-treatment facility in Wenling, Zhejiang Province.

The company had gotten a concession to operate a facility specializing in treating organic waste, including food and kitchen waste and sewage, under the build-operate-transfer model for a 28-year concession period after construction, it said in a filing to SGX after the market close on Monday.

The project has an estimated total investment cost of around 30.89 million yuan, or around S$6.14 million, and Wenling Jinhuan has a registered capital of the same amount, it said.

Citic Envirotech

Citic Envirotech said on Monday that it incorporated two new subsidiaries.

The first was wholly owned Citic Environmental Management (Meigu), with a registered share capital of 50 million yuan, which was set up to undertake an engineering procurement and construction contract of 2.5 billion yuan for ecological restoration in Meigu County, Sichuan Province, it said in a filing to SGX after the market close on Monday.

The second subsidiary, Citic Environmental Management (Yunfu), which is 88 percent owned by Citic Envirotech and 12 percent owned by the local government, was set up with a registered share capital of 144 million yuan to undertake a 720 million yuan public-private-partnership project in Yunfu City, Guangdong Province, it said.

The capital injections are from proceeds of Citic Envirotech’s recent placement of new ordinary shares and from bank financing, it said.

Hong Leong Asia

In response to an SGX query on its shares’ nearly 13 percent jump on Monday, Hong Leong Asia pointed to its renounceable non-underwritten rights issue, which closed for acceptances on 19 October.

Hong Leong Asia said the details of the acceptances would be announced on Tuesday. It noted that Hong Leong Corp. had irrevocably undertaken to subscribe and pay for its entitlements and any rights shares not taken up by other eligible shareholders.

That means the rights issue will be subscribed in full, it said in a filing to SGX after the market close on Monday.

It added that it wasn’t aware of any other reason for the stock’s rise.

Hi-P International

Hi-P International said on Monday that it incorporated a wholly owned subsidiary, called Hi-P (Nantong) Electronics Technology, in Nantong City in China on Monday. The subsidiary will have registered capital of US$34 million and will mainly engage in product design, research and development, manufacture and sales of electronics and parts, auto parts and small home appliances and their parts, it said.

The new subsidiary will be funded through internal resources, it said.

Fraser and Neave

Fraser and Neave said on Monday that its wholly owned Singapore-based subsidiary, F&N Investments, subscribed for an additional 1.05 million shares of US$1 each in Emerald Brewery Myanmar Ltd. (EBML), while Myanmar-based joint-venture partner Sun Ace subscribed for 300,000 new shares at the same price.

After the transactions, F&N Investments will hold 74.9 percent of EBML, Sun Ace will hold 20.0 percent and Than Lwin Aye Yar (TLAY), which did not subscribe for additional shares, will hold 5.1 percent, it said.

MeGroup

Malaysian auto dealer MeGroup filed on Monday for an initial public offering (IPO) on Singapore Exchange’s Catalist board, with plans to raise around S$3.8 million after issuing 16.5 million invitation shares at S$0.23 each.

Read more: Auto dealer MeGroup files for Catalist IPO to raise around S$3.8 million

Shopper360

Shopper360 obtained an exclusive agreement with Singapore’s largest supermarket operator, NTUC FairPrice Co-operative, to offer in-store advertising services at 68 hypermarkets and supermarkets, it said in a filing to SGX after the market closed on Monday.

Read more: Shopper360 obtains exclusive in-store advertising deal with NTUC FairPrice supermarkets

This article was originally published on Tuesday 23 October 2018 at 7:48 A.M. SGT; it has since been updated to add an item on Hong Leong Asia. 

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