UPDATE: Singapore stocks to watch Tuesday: Thai Beverage, UOB, Hi-P, Hyflux, City Developments

Singapore street scene in Tanjong Pagar neighborhood; taken 31 August 2018.Singapore’s Tanjong Pagar neighborhood.

These are Singapore stocks which may be in focus on Tuesday 27 November 2018:

Thai Beverage

Thai Beverage reported on Monday that its fiscal full-year net profit dropped 40.2 percent on-year to 20.73 billion Thai baht amid lower profit contributions from the spirits and beer businesses and a wider loss in the non-alcoholic beverage business.

Read more: Thai Beverage reports fiscal full-year net profit fell 40 percent despite revenue rise

UOB

UOB said on Monday that its wholly owned subsidiary, UOB Asset Management, entered a deal to acquire 75 percent of Indonesia-based PT PG Asset Management (PGAM) from PT Multikem Suplindo for S$2.25 million.

Read more: UOB acquires 75 percent stake in Indonesia’s PT PG Asset Management

Hi-P International

A controlling shareholder of Hi-P International is considering a possible transaction involving its shares, the contract manufacturer said on Tuesday in response to a query from SGX about the stock’s more than 30 percent surge on Monday.

Read more: Hi-P International: Controlling shareholder weighing possible transaction

Keppel-KBS US REIT

Keppel-KBS US REIT has entered a deal to acquire Maitland Promenade I, an office property near Orlando, Florida, from The Realty Associates Fund X for US$48.5 million, the REIT’s manager said in a filing to SGX before the market open on Tuesday.

Read more: Keppel-KBS US REIT to acquire Orlando office property for around US$49 million

Hyflux

Troubled water-infrastructure player Hyflux said on Monday that the Singapore High Court granted the company’s application for an extension of its existing creditor moratorium until 30 April 2019. The hearing on its rescue financing application has been adjourned to a yet-to-be-scheduled date in January, it said in a filing to SGX after the market close on Monday.

Hyflux warned that statements published by third parties about the ongoing negotiations may not accurately represent any arrangements proposed to any creditors.

City Developments

City Developments said on Monday that its indirect wholly owned subsidiary, CBM, acquired 1.72 million shares of Systematic Holdings, representing a 20 percent stake, from Laundry Network, which is an unrelated party, for S$987,916.

After the acquisition, CBM’s stake in Systematic has risen to 90 percent from 70 percent, it said in a filing to SGX after the market close on Monday.

Yanlord Land

Yanlord Land said on Monday that its wholly owned subsidiary, Nanjing Renyuan Investment, set up a new wholly owned company in Wuhan, China, called Yanlord Land (Wuhan) with a registered capital of 100 million yuan.

Yanlord Land (Wuhan)’s main activity is expected to be property development and related business, it said.

Sembcorp Industries and Soilbuild Construction

Sembcorp Industries said on Monday that its wholly owned subsidiary, Sembcorp Design and Construction, completed its divestment of its 60 percent stake in Sembcorp EOSM to Soilbuild Construction. Sembcorp EOSM is no longer part of the Sembcorp group, it said in a filing to SGX.

In a separate filing, Soilbuild said that Sembcorp EOSM and its Malaysia and India units have become its wholly owned subsidiaries.

Kimly

Kimly said on Tuesday that it requested trade in its shares be suspended; it had requested a trading halt last week.

It requested the voluntary suspension to handle regulatory orders over certain information, updates to a recent acquisition and its unaudited full-year results, it said in the filing to SGX before the market open on Tuesday.

Swiber Holdings

Swiber Holdings said on Monday that the Singapore High Court granted the company an extension until 31 May 2019 for its judicial managers to send creditors a statement of proposals and summon a creditors’ meeting. The court also granted an extension of the judicial management period to the end of 2019, it said in a filing to SGX on Monday.

This article was originally published on Tuesday 27 November 2018 at 7:23 A.M. SGT; the item on Hi-P International has since been updated and items on Keppel-KBS US REIT and Kimly have been added.

Get the Shenton Wire morning briefing in your inbox