Singapore stocks to watch Friday: SembMarine, CMT, Wilmar, Ascendas REIT

Singapore’s Marina Bay SandsSingapore’s Marina Bay Sands

These are Singapore shares which may be in focus on Friday, 26 October 2018:

Sembcorp Marine

Rigbuilder Sembcorp Marine reported on Thursday a net loss of S$29.8 million for the third quarter, swinging from a year-earlier net profit of S$100.7 million, amid continued low overall business volume as the oil and gas sector remains sluggish.

Read more: SembMarine reports 3Q18 net loss of nearly S$30 million on low business volume

CapitaLand Mall Trust

CapitaLand Mall Trust priced its private placement of shares at S$2.07 each, the middle of its S$2.049 to S$2.097 range, in an offer that met with strong demand, the REIT manager said in a filing to SGX late on Thursday.

Read more: CapitaLand Mall Trust sets placement price to raise S$278 million


Wilmar said on Thursday that it established two new subsidiaries in China: Yinhai Kerry (Maoming) Foodstuffs Industries and Yihai Kerry (Maoming) Oils & Grains Industries.

Yihai Kerry (Maoming) Foodstuffs Industries, or YK Maoming Foodstuffs, is an indirect wholly owned subsidiary of Yihai Kerry Investments (YKI), which is in turn, an indirect wholly owned subsidiary of Wilmar, it said in a filing to SGX after the market close on Thursday. YK Maoming will have a registered capital of 200 million yuan and will engage in the refining and packaging of edible oils and flour milling, it said.

Yihai Kerry (Maoming) Oils & Grains Industries, or YK Maoming Oils & Grains, is an indirect, wholly owned subsidiary of YKI, Wilmar said. It will have a registered capital of 180 million yuan and will engage in the crushing of oil seeds, the filing said.

Ascendas REIT

Ascendas REIT reported on Thursday that its fiscal second quarter net property income fell 1.0 percent on-year to S$158.9 million amid a rise in property expenses due to acquisitions.

Read more: Ascendas REIT fiscal 2Q net property income slipped 1 percent, missing analyst forecast


Temasek’s S$500 million T2023-SGD 2.70 percent five-year bond will begin trading on the Singapore Exchange on Friday at 9:00 A.M. SGT, the Singapore state-owned investment company said in an SGX filing on Thursday.

The bond offering, which included a tranche for retail investors in Singapore for the first time, had met with heavy demand.

Each board lot of the notes will comprise S$1,000 in principal amount, it said.

Singapore Airlines

Singapore Airlines S$600 million 3.16 percent notes due 2023 will begin trading on the bond market on Friday at 9:00 A.M. SGT, the airline said in a filing to SGX on Thursday.

The notes will be quoted and traded in denominations and a minimum board lot size of S$250,000, it said.


GuocoLand said on Thursday that its net profit for the fiscal first quarter fell 85 percent on-year to S$26.16 million, while revenue fell 54 percent on-year to S$168.01 million.

“This was due to lower sales of completed residential units recorded as the group has brought down its inventory of completed unsold units substantially in the past quarters, especially those in Singapore,” it said in a filing to SGX after the market close on Thursday.

“Revenue contribution from the strong sales of Martin Modern will be recognized progressively in future quarters as it is currently undergoing construction,” GuocoLand said. It added that its gross profit margin for the quarter ended 30 September rose to 30 percent from 19 percent in the year-ago quarter.


ESR-REIT’s manager said on Thursday that the REIT’s previously announced acquisition of 15 Greenwich Drive in Singapore has been completed for a purchase price of S$95.8 million. ESR-REIT now has a portfolio of 57 properties, it said.

In connection with the deal, ESR-REIT’s trustee entered into a S$100 million unsecured loan facility agreement with BNP Paribas, via its Singapore branch, to refinance the REIT’s existing indebtedness and fund asset acquisitions, enchancements and improvements of assets, it said in a filing to SGX after the market close on Thursday.

Sunpower Group

Sunpower Group said on Thursday it obtained a 65.2 million yuan manufacturing and services contract from CSPC, a joint venture of repeat clients CNOOC and Shell Petrochemicals Co.

Under the contract, Sunpower will provide peroxidation reactors and reboilers for CSPC’s SMPO/POD facility at CSPC’s Phase 2 petrochemical project in Huizhou, Sunpower said, adding that it was one of the most technologically advanced projects of its kind in China.

Equipment deliver is expected to be completed by 2019 and the contract is expected to positively impact Sunpower’s financial performance in 2018 and 2019, it said.

APAC Realty

APAC Realty said on Thursday that its wholly owned subsidiary, HC Home, has changed its name to APAC Investment, with effect from 22 October.


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