UPDATE: Singapore stocks to watch Thursday: M1, SIA, SATS, CapitaLand Malls Trust, OUE, Spackman

Stock ticker at SGX building on Shenton Way; taken October 2018.Stock ticker at SGX building.

These are Singapore stocks which may be in focus on Thursday 25 October 2018:

M1

Singapore telco M1 reported its third-quarter net profit fell 5.5 percent on-year to S$34.5 million on higher acquisition and retention costs.

Read more: M1 third-quarter net profit fell 5.5 percent to S$34.5 million on higher acquisition costs

Singapore Airlines and SATS

Singapore Airlines and SATS said on Wednesday that they were proposing a new transaction structure for their planned joint venture with Duty Free provider DFASS (Singapore), a deal which was originally announced in March.

Read more: Singapore Airlines, SATS and Duty Free provider DFASS (Singapore) reset joint venture structure

CapitaLand Mall Trust

CapitaLand Mall Trust reported on Thursday that its third quarter net property income rose 1.1 percent on-year to S$122.68 million, beating an analyst’s forecast.

Read more: CapitaLand Mall Trust 3Q net property income up slightly, beating analyst forecast

Mapletree Commercial Trust

Mapletree Commercial Trust reported its fiscal second quarter net property income rose 2.2 percent on-year to S$86.26 million on higher contributions from VivoCity, Mapletree Business City I and Bank of America Merrill Lynch HarbourFront (MLHF).

Read more: Mapletree Commercial Trust fiscal 2Q net property income rises 2.2 percent

OUE Limited

OUE Ltd. said on Wednesday that it appointed Brian Riady, age 28, as CEO of the hospitality division. Brian Riady is the son of Dr. Stephen Riady, executive chairman of OUE and a substantial shareholder, it said.

Brian Riady was previously an analyst at Credit Suisse USA and CEO for lifestyle and entertainment at Lippo Group, it said.

Parkway Life REIT

Parkway Life REIT reported on Thursday its third quarter net property income rose 2.5 percent on-year to S$26.52 million on contributions from a nursing rehabilitation facility acquired in February and higher rent from Singapore properties.

Read more: Parkway Life REIT 3Q18 net property income up 2.5 percent on acquisition, higher Singapore rents

AIMS AMP Capital Industrial REIT

AIMS AMP Capital Industrial REIT reported its fiscal second quarter net property income slipped 0.5 percent on-year to S$19.29 million as the loss of income from a divestment and lower revenue from other properties was partly offset by contributions from an acquisition.

Read more: AIMS AMP Capital Industrial REIT fiscal 2Q net property income nearly flat

Citic Envirotech

Citic Envirotech reported on Wednesday that its third-quarter net profit dropped 55 percent on-year to S$23.86 million as revenue for the period was mainly from civil works, which had lower gross profit margin.

Read more: Citic Envirotech 3Q18 net profit drops 55 percent on lower margin on civil works

Ascendas India Trust

Ascendas India Trust reported on Wednesday that its fiscal second quarter net property income rose 4 percent on-year to S$32.9 million, despite a weaker Indian rupee, after the acquisitions of the BlueRidge 2 and Arshiya warehouses.

Read more: Ascendas India Trust fiscal 2Q net property income rises after acquisitions

Yanlord Land

China property developer Yanlord Land said on Wednesday that its wholly owned subsidiary, Nanjing Renyuan Investment, acquired a 30 percent stake in a Suzhou residential development site for a capital injection of 450 million yuan.

Read more: Yanlord acquires 30 percent stake in Suzhou development site for 450 million yuan

Sasseur REIT

Sasseur REIT’s sponsor, Sasseur Cayman Holding, further increased its deemed stake in the China outlet mall REIT, after the purchase of 98,800 units for S$66,161 by the sponsor’s wholly owned subsidiary, Sasseur Cayman Holding II, on Tuesday, it said in a filing to SGX on Wednesday. That brought the sponsor’s deemed interest to 57.56 percent, up from 57.55 percent.

That followed an announcement from Sasseur REIT’s manager on Tuesday that Sasseur Cayman Holding had purchased additional units in the China outlet mall REIT “as a demonstration of ongoing confidence in the business prospects.” The sponsor had purchased an additional 600,000 units in a market transaction on Monday.

Sunpower Group

Sunpower Group said on Wednesday that its subsidiary, Shandong Yangguang Engineering Design Institute, signed an agreement with Nishat Mills, the flagship company of Pakistan industrial giant, Nishat Group, to provide engineering design services, installation supervision, and start-up commissioning services for its new turbine island of its captive power plant.

The project is expected to be completed by the end of 2019, it said in a filing to SGX after the market close on Wednesday.

“The cooperation with Nishat Mills will further enhance Sunpower’s visibility in Pakistan with potential opportunities for cooperation with other textile companies,” Sunpower said.

Sunpower Group

In response to an SGX query about unusual movements in its shares, Sunpower Group said on Wednesday that it wasn’t aware of any information not previously disclosed about the company or its subsidiaries or associates that might explain the trading.

Sunpower’s shares ended down 9.89 percent at S$0.41 on Wednesday after falling as low as S$0.38 during the session.

Addvalue Technologies

Satellite communications integrator Network Innovations said it entered an exclusive collaboration deal with Addvalue Technologies’ wholly owned subsidiary Addvalue Communications to jointly develop markets for the NEW iFleetONE terminal and Addvalue’s proprietary Vessel Monitoring System (VMS).

The product was recently type-approved by the U.S. National Marine Fisheries Service (NMFS) Office of Law Enforcement (OLE) as meeting commercial fishing vessels’ regulatory requirements to routinely report GPS positioning, it said.

Network Innovations will use its dealer/technical support network for the tie-up, it said in a filing to SGX before the market open on Thursday.

Colin Chan, CEO and chairman of Addvalue, said in the statement: “We believe that the collaboration will enable us to effectively penetrate the U.S. fisheries market for the mandatory VMS service.”

OUE Lippo Healthcare

OUE Lippo Healthcare issued a profit warning on Wednesday, saying it expected to report a net loss for the third quarter ended 30 September due to operating costs and the deconsolidation of Wuxi New District Phoenix Hospital.

Spackman Entertainment

Spackman Entertainment said on Thursday that a Chinese real estate company has made an unsolicited bid to acquire 51 percent owned Novus Mediacorp for 30 billion South Korean won, or around S$36.5 million.

Read more: Spackman Entertainment: China property company makes unsolicited bid for Novus Mediacorp

China Kunda

China Kunda issued profit guidance on Wednesday, saying that after a preliminary assessment of its results for its fiscal second quarter and first half ended 30 September, it expected to report an increased loss before tax from continuing operations, mainly on declining revenue for the IMD and plastic injection parts business amid challenging market conditions.

However, it added that the write-back of over-provision of income tax in the previous fiscal year from discontinued operations following the finalization of local authorities’ income tax assessment offset the increased net loss and resulted in a net profit for both the fiscal second quarter and first half, compared with a net loss in the year-ago periods.

It said its results would be released before 14 November.

China Kunda

China Kunda said on Wednesday that its disposal of its entire 57 percent interest in its subsidiary, Beijing Baiju Automobile Component Co. (BBJ), and BBJ’s wholly owned subsidiary Beijing Baiju Automobile Component Sales Co., via the sale of all shares in BBJ, has been completed.

Synagie

Synagie said on Wednesday that it added two new brands, Tokyo-based skincare and cosmetics maker Kanebo Cosmetics and intimate apparel brand sloggi, to its stable of brands that it markets and distributes via e-commerce platforms. That brought its total brand partners to more than 250, up more than 30 percent since 2017, it said in a filing to SGX after the market close on Wednesday.

Synagie said it would assist in marketing and distributing Kanebo across Malaysia’s leading e-commerce platforms, such as Lazada and Shopee, and sloggi across Singapore’s leading e-commerce platforms, such as Beautiful.me, Qoo10, Lazada, Shopee and Zalora.

AusGroup

AusGroup said on Wednesday that it and its subsidiaries AGC and MAS recently obtained more than A$60 million of contracts, increasing its positioning in the the lithium sector.

AusGroup’s local Kwinana manufacturing facility was supporting continuing construction work at Talison’s Greenbushes site and the start of work at Tianqi’s Kwinana site, it said in a filing to SGX after the market close on Wednesday.

“We are proud to be part of these critical lithium projects that are important not only to Western Australia, but to the local Kwinana region. AusGroup has been operating the Kwinana fabrication premises for almost 30 years and is well positioned to provide integrated mechanical, fabrication and access services to the lithium market which is experiencing accelerated growth,” Shane Kimpton, CEO and executive director of AusGroup, said in the statement.

MoneyMax Financial Services

MoneyMax Financial Services said on Wednesday that it incorporated a new, wholly owned subsidiary in Singapore, MoneyMax Assurance, with an issued and paid-up capital of S$2.

“The company intends to use MoneyMax Assurance as a vehicle for future business expansion. The company will make further announcements on the business operations of the subsidiary in due course,” it said in a filing to SGX after the market close on Wednesday.

It said the incorporation was funded through internal resources.

This article was originally published on Thursday 25 October 2018 at 8:07 A.M. SGT; it has since been updated to include an item on Addvalue Technologies. 

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