Singapore stocks to watch Tuesday: Noble, Keppel Infrastructure Trust, SPH, POSH, Raffles Medical

Singapore two-dollar bills

These are Singapore stocks which may be in focus on Tuesday 30 October 2018:

Noble Group

Noble Group warned on Monday that it expected to report a net loss of US$90 million to US$115 million for the third quarter, despite strong commodity prices, due to restructuring expenses, losses from discontinued operations and finance costs.

Read more: Noble: To report 3Q18 net loss despite strong commodity prices

Keppel Infrastructure Trust

Keppel Infrastructure Trust said late on Monday that it was selected as the preferred bidder for Blackstone’s sale of its entire stake in Australia- and New Zealand-based Ixom Holdco.

KIT will now complete final-stage due diligence and enter negotiations to finanlize the share sale agreement, it said, but added there was no certainty a deal will be concluded, it said in a filing to SGX.

Ixom manufactures and distributes water treatment chemicals and other chemicals and owns infrastructure including chlor-alkali plants, import and storage terminals, and distribution assets, it said.

Far East Hospitality Trust

Far East Hospitality Trust reported third quarter net property income rose 11.8 percent on-year to S$27.69 million on the acquisition of the Oasia Hotel Downtown.

Read more: Far East Hospitality Trust 3Q18 net property income up nearly 12 percent after acquisition

Singapore Press Holdings

Singapore Press Holdings said on Monday that its wholly owned subsidiary, SPH Interactive, and Y3 Technologies created a Singapore-based joint-venture company, OctoRocket, to operate an online marketplace for businesses importing and exporting to Southeast Asian markets.

OctoRocket has a paid-up capital of S$2.37 million and is 70 percent owned by SPHI, while Y3 holds the remainder, it said in a filing to SGX after the market close on Monday.

PACC Offshore Services

Pacific Carriers Ltd. (PCL) increased its direct interest in PACC Offshore Services, or POSH, to 14.55 percent from zero previously after the acquisition of 263.85 million POSH shares for 171.50 million Malaysian ringgit from Malaysian Bulk Carriers’ (MBC) wholly owned unit Lightwell Shipping Inc. (LSI) by way of a restricted sale to MBC shareholders, it said in filings to SGX after the market close on Monday.

PCL, which holds more than 20 percent of MBC, was also deemed to have an interest in 17,954 POSH shares which were still held by LSI after it sold 386.37 million POSH shares, or a 21.3 percent POSH stake, for 251.14 million ringgit, an SGX filing on Monday said. MBC has ceased to be a substantial shareholder of POSH, while PCL has become a substantial shareholder.

Kuok (Singapore), which owns all of PCL and Camsward Pte., saw its deemed interest in POSH fall to 0.73 percent from 22.03 percent with LSI’s share sale and then rise to 15.28 percent as PCL acquired the shares, filings to SGX showed; Camsward owns 13.24 million POSH shares, a filing said.

Raffles Medical

Raffles Medical reported on Monday that its profit after tax and minority interest was nearly flat, up just 0.1 percent, at S$16.41 million in the third quarter, while operating profit rose 4.5 percent on-year to S$19.22 million and revenue increased 1.2 percent on-year to S$121.04 million.

The healthcare center operator said its primary care network (PCN) offered diabetic eye screening and diabetic foot screening at its clinics, starting during the quarter, while Raffles Hospital opened a new inpatient ward. Raffles Hospital has also been accredited as a trauma hospital, meaning its 24-hour accident and emergency department is deemed ready to receive trauma patients and emergencies, it said.

It also recruited new specialists in endocrinology, orthopaedics and hand surgery to expand its services, it said.

Raffles Hospital Chongqing’s construction is on schedule to be opened by year-end, while construction of Raffles Hospital Shanghai, in Pudong, was progressing well, it said.

Kencana Agri

Kencana Agri issued a profit warning on Monday, saying that it expected to report a consolidated net loss for the quarter ended 30 September, mainly on the depreciation of the Indonesian rupiah against the U.S. dollar and losses from fair value changes in biological assets.

Global Palm Resources

Global Palm Resources issued a profit warning on Monday, saying that it epxected to report a “substantially lower” net profit or possibly a loss after tax for the third quarter.

The lower net profit or loss after tax would be mainly due to lower sales volume and average selling price of crude palm oil and a decrease in the average selling price of palm kernel, it said in a filing to SGX after the market close on Monday.

Keppel REIT

Tham Wei Hsing Paul has been appointed CEO of Keppel REIT Management Ltd., Keppel REIT’s manager, it said in a filing to SGX after the market close on Monday.

Tham previously was deputy CEO for the REIT manager from February 2018 and was chief financial officer at Keppel Capital International from July 2016 through the present, it said.

Accrelist

Accrelist said on Monday that it allotted and issued 29.63 million conversion shares last week for payment of interest under its convertible loan agreement with Singapore Rixin Zhonghe Investment. The payment was for the 22 November 2017 to 21 May 2018 period, it saaid.

The conversion price was at S$0.0054 a share, it said.

The issuance raised the total number of issued Accrelist shares to 5.58 million from 5.55 million, it said.

Aspial Corp.

Aspial Corp. said on Monday that it has cancelled S$10 million in aggregate principal of the 5.50 percent notes due 2018, which were the series 004 notes issued under its S$700 million multicurrency debt issuance program.

After the cancellation of the repurchased notes, the notes’ aggregate outstanding principal was at S$51 million, it said.

Spackman Entertainment

Spackman Entertainment said on Tuesday that actor Son Ye-jin of its wholly owned subsidiary MS Team Entertainment, a talent management agency, received the Best Actress Award and Popularity Award at the second annual Seoul Awards over the weekend.

The award was for her performance in the film Be With You, which broke the first-week box office historical record for a romance film debut in South Korea, it said.

 

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