These are Singapore stocks which may be in focus on Friday 16 November 2018:
Keppel Infrastructure Trust
Keppel Infrastructure Trust entered a deal to acquire all of Ixom HoldCo, from certain Blackstone-managed funds and from certain Ixom management shareholders for A$777 million, or S$775 million, the trust’s manager said in a filing to SGX on Thursday.
Singapore Airlines reported on Thursday that its group airline passenger load factor (PLF) improved 1.1 percentage points on-year to 81.9 percent, while passenger carriage, which is measured in revenue passenger kilometers, rose 7.2 percent on-year, outpacing a capacity injection of 5.7 percent.
AsiaPhos said on Thursday that negotiations with the Chinese government over compensation for requiring it to cease operations at mines 1 and 2 have not resulted in an agreement and the matter has been escalated to China’s Ministry of Commerce for attention.
That was after AsiaPhos’ lawyers wrote to China’s government in late August, saying it believed China was in breach of its obligations under the China-Singapore Bilateral Investment Treaty and the ASEAN-China Investment Agreement, it said in a filing to SGX after the market close on Thursday.
China’s Ministry of Commerce asked AsiaPhos’ lawyers for more information at end-October and that has now been provided, the filing said.
“Should China fail to engage in amicable settlement discussions or should such discussions fail to result in an amicable resolution of the dispute within six months from 31 August 2018, the group reserve its rights to submit the dispute at that time to international arbitration under the two treaties,” it said.
The Panda Park and the Mianzhu government had requested AsiaPhos vacate the mining site in the JiuDingshan Nature Reserve.
Interra Resources said on Thursday that its Linda Sele Technical Assistance Contract (LS TAC), in which it has an effective 53.99 percent interest, expired on Thursday.
IBN Oil Holdico, which owns all of the interest in LS TAC, has submitted a proposal to to PT Pertamina EP (PEP) to extend operations in the Linda Sele field and PEP is considering the proposal, it said.
Indonesian authorities have stopped issuing TACs, replacing them with other types of cooperation deals, it said in a filing to SGX after the market close on Thursday.
Parkson Retail Asia
Parkson Retail Asia said on Thursday that its wholly owned subsidiary, Parkson (Cambodia), or PCCO, served a notice of arbitration on Thursday on Hassan (Cambodia) Development to resolve disputes over its move to terminate a lease agreement.
The company said that its plan to open a new store in Cambodia had met with prolonged delays after Hassan (Cambodia) failed to complete and hand over a new building in Phnom Penh by the end of 2016.
That led PCCO to terminate the lease agreement after Hassan (Cambodia) failed to remedy the matter, and to seek full refunds of the security deposit and advanced rental amounts as well as reserving its rights to bring further claims, the company said. The arbitration will take place in Singapore, in line with the lease agreement, it said.
But it added that Hassan (Cambodia) was contesting the validity of the termination and making counterclaims.
Sunpower Group said on Thursday Guo Hongxin, the company founder and executive chairman, wont the annual Ernst & Young Entrepreneur of the Year Award 2018 for China in the technology category.
“Guo places great emphasis on R&D innovation and Sunpower has actively led and participated in the formulation of five national standards for heat pipes and heat exchangers etc. within the PRC. To-date, Sunpower has been granted 143 national patents and is widely engaged in efficient heat transfer, energy-saving and environmental protection projects,” Sunpower said in a filing to SGX after the market close on Thursday.
This article was originally published on Friday 16 November 2018 at 8:11 A.M. SGT; it has since been updated to include an item on Singapore Airlines.