Singapore stocks to watch Friday: Singtel, Civmec, China Jinjiang, Sunpower, Jiutian

Singapore’s Marina Bay SandsSingapore’s Marina Bay Sands

These are Singapore stocks which may be in focus on Friday 23 November 2018:

Singtel

Singtel said on Thursday that it landed the rights to the Premier League for another three seasons, running from August 2019 to May 2022, making it the official broadcaster in Singapore for 12 straight years.

Read more: Singtel lands rights to Premier League for another three seasons

Civmec

Civmec Holdings, a wholly owned subsidiary of Civmec Ltd., said on Thursday that it began the process of raising a four-year senior secured notes offering of up to A$60 million.

The offering will only be open to eligible and sophisticated investors, Civmec said in a filing to SGX on Thursday.

“Accessing the wholesale Australian-dollar debt markets will provide additional tenor to the company’s debt maturity profile, diversify Civmec’s current debt funding sources and provide greater operating flexibility to fund future growth,” Pat Tallon, CEO of Civmec, said in the statement.

“The proceeds raised will be used to refinance some existing debt with the balance to be utilised to fund a portion of the investment in our world-class shipbuilding and maintenance facilities currently under construction at our Henderson headquarters in Western Australia,” he added.

China Jinjiang Environment

China Jinjiang Environment said on Thursday that its indirect subsidiary, Tangshan Jinhuan New Energy, incorporated a company, Leting Jinhuan New Energy, as a project company for the Leting WTE project.

Leting Jinhuan, which has a registered capital of 100 million yuan, will be fully held by Tangshan Jinhuan, which is in turn 70 percent owned by China Jinjiang’s wholly owned subsidiary, Hangzhou Jinhuan Investment, and 30 percent held by Hebei Lanchi Environmental Protection Equipment, which is an unrelated third party and the company’s local partner, it said in a filing to SGX after the market close on Thursday.

The principal activities of Leting Jinhuan will be owning and operating the Leting WTE project, research and development of new energy technology, sludge and waste-water treatment and recycling waste materials, it said. The investment will be funded by a combination of bank borrowings and internal resources, China Jinjiang said.

China Sunsine Chemical

China Sunsine Chemical said on Thursday that its wholly owned subsidiary, Shandong Shengtao Chemical, received the government’s approval on Wednesday for a trial run of its 10,000 ton Insoluble Sulphur (IS) production line.

Read more: China Sunsine: Obtained government approval for trial run of IS expansion project

Sunpower Group

Sunpower Group said on Thursday that its subsidiary, Yangguang Institute, signed an agreement with Olympia Chemicals, a repeat customer and major Pakistani chemical producer, to provide engineering services to expand its second-phase captive power plant.

The project is expected to be completed by end-2020, it said in a filing to SGX after the market close on Thursday.

Jiutian Chemical

Jiutian Chemical said on Thursday that its executive director and CEO, Zhou Hongxuan, age 47, resigned with effect from Thursday due to health concerns.

Wei Hongguang, group general manager of its subsidiaries, was appointed as acting CEO while a search for a new CEO is underway, the company said in a filing to SGX after the market close on Thursday.

UOL

UOL Group said on Thursday that its wholly owned subsidiary, UOL Treasury Services (UTS), updated its S$1 billion multicurrency medium term note program to increase the maximum aggregate principal amount that may be issued to S$2 billion from S$1 billion.

The name of the program will be changed to reflect the update, it said.

Kimly

Kimly requested a share trading halt on Thursday pending the release of an announcement.

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