These are Singapore stocks which may be in focus on Thursday 21 November 2018:
Singapore Airlines said on Thursday that its Scoot budget-carrier brand would take over some of SilkAir’s routes over the next two years in the lead up to SilkAir’s merger into Singapore Airlines.
Sembcorp Industries and Soilbuild Construction
Soilbuild Construction said on Wednesday that its wholly owned subsidiary, Precast Concrete Pte. Ltd., or PCPL, entered a deal to acquire Sembcorp EOSM from seven shareholders from a total consideration of S$12.25 million.
Bowsprit Capital, the manager of First REIT, said on Wednesday that it wasn’t aware of any material public information that could be driving the REIT’s unit price volatility.
AIMS AMP Capital Industrial REIT
AIMS AMP Capital Industrial REIT Management, which is the manager of AIMS AMP Capital Industrial REIT, or AA REIT, said on Wednesday that AIMS Financial Service Group proposed acquiring shares held by AMP Capital Investors in AA REIT’s managers and in units of AA REIT.
Sabana Shari’ah Compliant Industrial REIT’s manager said on Wednesday that InfinitySub entered a deal to acquire a 60 percent stake in Blackwood Investment, an indirect shareholder of the REIT manager, from two shareholders.
No Signboard Seafood
Chilli crab restaurateur No Signboard Holdings warned early on Thursday that it expected to report accounting losses for its fiscal fourth quarter and full-year results due to goodwill impairment related to its beer business.
Chilli crab icon Jumbo Group reported its fiscal full-year net profit fell 23.8 percent on-year to S$11.02 million, despite higher revenue, as its expansion increased expenses.
Keppel-KBS US REIT
Keppel-KBS US REIT’s manager said on Wednesday that valid acceptances and excess applications were received for 238.29 million rights units, or around 127.9 percent of the total number of rights units available under its rights issue.
Banyan Tree Holdings said on Wednesday that its subsidiary, Banyan Tree China, or BTC, entered a deal to sell an 18.6 percent stake in Banyan Tree Assets (China) Holdings, or BTAC, to a subsidiary of China Vanke for S$78.61 million.
After the deal, BTC will have the right to sell up to 99 percent of its remaining 4.2 percent stake in BTAC after a period of eight years, it said.
Asiatravel.com said on Wednesday that Singapore Tourism Board on 12 November had provided the Minister of Trade & Industry and the company with its assessment of the company’s appeal of the decision to suspend its travel agent licences and why the show cause was rejected. Asiatravel.com now has until 30 November to submit a reply, which it is in the process of preparing.
In addition, the Singapore court has given the company an extension to 12 December to file applications under the restructuring rules, it said.
The company has previously highlighted that it faced “minor cash flow issues” and a lack of qualified accounting staff.
ValueMax Group said on Wednesday that its associated company, SYT Pavilion, earlier this month subscribed for 3,999,999 new shares of Rubi Kristal for 1 ringgit each, with the funding via a cash injection.
It added that on Wednesday SYT Pavilion acquired one share of Rubi Kristal from the original shareholder for 1 ringgit in cash, making Rubi Kristal a wholly owned subsidiary of SYT Pavilion.
ValueMax Group said on Wednesday that its associated company, SYT Pavilion, earlier this month subscribed for 3,999,999 new ordinary shares of Jubli Intant for 1 ringgit each, funded via a cash injection.
On Wednesday, SYT Pavilion also acquired one share of Jubli Intant from the original shareholder for 1 ringgit in cash, it said in a filing to SGX after the market close. With that investment, Julbi Intant will be a wholly owned subsidiary of SYT Pavilion, with a paid-up capital of 4 million ringgit, it said.
This article was originally published on Thursday 22 November 2018 at 7:31 A.M. SGT; it has since been updated to add an item on Singapore Airlines.