UPDATE: Singapore stocks to watch Monday: Noble, SIA, SATS, Hyflux, Wilmar, Dairy Farm

Singapore’s Marina Bay SandsSingapore’s Marina Bay Sands

These are Singapore stocks which may be in focus on Monday 26 November 2018:

Keppel T&T

Keppel Telecommunications & Transportation said on Monday that its data center division, Keppel Data Centres, inked a deal with Alpha Data Centre Fund to develop and operate their first data center in Malaysia.

Read more: Keppel T&T inks deal to develop data center in Malaysia

Noble Group

Troubled commodity trader Noble Group said late on Sunday that it would extend the timeline for completing its restructuring in the wake of Singapore authorities’ investigation into its accounting.

Read more: Noble delays restructuring timeline in wake of Singapore accounting probe

Singapore Airlines and SATS

Singapore Airlines, SATS and DFASS (Singapore) on Friday entered into a share subscription agreement with joint venture company KrisShop, the companies said in filings to SGX on Friday.

Read more: Singapore Airlines, SATS and DFASS (Singapore) enter transfer agreement for joint venture

Hyflux

Hyflux said on Friday that contrary to recent media articles discussing purported details of a formal restructuring plan, the troubled water-infrastructure player isn’t ready to announce a finalized and definitive restructuring proposal for its creditors.

Read more: Hyflux: Creditor restructuring proposal has not been finalized

Wilmar International

Wilmar International said on Friday that it established a subsidiary, Yihai Kerry (Kunshan) Food Technology in China with a registered capital of US$63 million.

YK Kunshan is a direct 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 on Friday.

The new subsidiary’s business will be in the processing of frozen dough, it said.

Dairy Farm International

Dairy Farm International said on Friday that it completed the tie-up between its wholly owned food retail business, Rustan Supercenters, or RSCI, with Robinsons Retail Holdings, or RRHI, in the Philippines.

Read more: Dairy Farm completes tie-up with Robinsons in Philippines

Keppel Land

Keppel Corp. said on Friday that two wholly owned subsidiaries of Keppel Land, Topalle and Valicour, will be divesting their interests in two Bangkok residential sites to KPN Land Co. for a total of 165.5 million Thai baht, or around S$6.9 million, in cash.

Read more: Keppel Land to divest residential sites in Bangkok

Raffles Infrastructure

Raffles Infrastructure said late on Friday that it hasn’t yet completed the special audit required by SGX as a condition for its shares to resume trading as the China subsidiary, Sinwa Knitting & Dyeing, didn’t give the audit team effective cooperation.

Read more: Raffles Infrastructure: Special audit delayed by lack of effective cooperation from China subsidiary

Suntec REIT

Suntec REIT’s manager, ARA Trust Management (Suntec) said on Friday that a subsidiary of the REIT, Harmony Convention Holding, entered a loan deal for S$408 million to refinance an existing loan facility.

The facility agreement includes covenants, including some related to changes in Suntec REIT’s stake in the subsidiary, the fund manager of Harmony Investors Group and the manager/operator of Suntec International Convention & Exhibition Centre, which if breached could result in a default event, it said.

Addvalue Technologies

Addvalue Technologies said on Monday that it completed the development and test verification of a new dual-mode satellite terminal, the V1 Satellite Communication Terminal, as part of a collaboration with China-based Seven Star Communication Technology.

Seven Star is planning to produce the V1 to support commercial launch in the first quarter of next year, it said in a filing to SGX on Monday.

The V1 supports the China S band mobile satellite system, known as Tiantong-01, which is the preferred system for all China governmental agencies for critical missions and disasters, the filing said.

Moya Holdings

Moya Holdings said on Friday its subsidiary, PT Air Semarang Barat signed a cooperation agreement with Perusahaan Daerah Air Minum Tirta Moedal, the municipal water company of Semarang City, Central Java, Indonesia, for a previously announced water-supply system tender.

PT Air Semarang Barat is a joint venture owned by Moya’s subsididary, PT Aetra Air Jakarta, and PT Medco Infrastruktur Indonesia, it said.

The build-operate-transfer project, which has a 25-year concession period, has a total expected investment cost of 417 billion rupiah, which PT Air Semarang Barat will fund via external borrowings and equity, it said. Construction is expected to begin in May 2019 and be completed within two years, it said.

Silverlake Axis

Silverlake Axis said on Friday that its wholly owned subsidiary, Silverlake Axis Sdn. Bhd. (SASB) entered a deal to sell two adjoining parcels of vacant commercial land in Selangor, Malaysia, to Immortal Entity Sdn. Bhd. for 16 million ringgit.

“SASB has decided to dispose the Land as it is surplus to the business and operational needs of the company and its subsidiaries,” it said in a filng to SGX after the market close on Friday.

Silverlake said it plans to use the proceeds of the proposed sale for investment and business expansion, including potential acquisitions, and for general working capital purposes.

China Sunsine

China Sunsine said on Friday that its wholly owned subsidiary, Shandong Sunsine Chemical, changed its legal representative from Xu Chengqiu to Xu Jun, who is the son of the China Sunsine’s executive chairman, Xu Chengqiu.

Xu Jun is currently an executive director of the company and the vice chairman of Shandong Sunsine, it said in a filing to SGX.

MoneyMax Financial Services

MoneyMax Financial Services said on Friday that its wholly owned subsidiary, Cash Online, last week increased its investment in its 51 percent-owned subsidiary, Yong Mei Group, to 2.04 million ringgit from 51 ringgit via a share subscription.

The consideration was paid via the capitalization of a loan from Cash Online to Yong Mei, it said in a filing to SGX on Friday.

After the deal, Yong Mei’s issued and paid-up share capital has increased to 4.0 million ringgit, comprising 4 million shares, it said.

This article was originally published on Monday 26 November 2018 at 7:39 A.M. SGT; it has since been updated to include items on Keppel T&T and Addvalue Technologies. 

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