UPDATE: Singapore stocks to watch Monday: Keppel Infrastructure Trust, SIA, SATS, United Engineers

Singapore street sceneSingapore street scene

These are Singapore stocks which may be in focus on Monday 3 December 2018:

Keppel Infrastructure Trust

Basslink Pty., part of the Keppel Infrastructure Trust portfolio, said on Friday that the independent investigation of its 2015 cable outage supported its view that it was a “force majeure” event under its agreements with Hydro Tasmania.

Read more: UPDATE: Basslink: Independent investigation of 2015 cable failure finds cause unknown

ARA Asset Management

ARA Asset Management said on Monday that it acquired a portfolio of 38 select service Hyatt Hotels, branded as Hyatt Place and Hyatt House, located in 21 states in the U.S., with the properties potentially to be injected into its REITs.

Read more: ARA Asset Management acquires 38 Hyatt Hotels in US, with potential for injection into REITs

Singapore Airlines and SATS

Singapore Airlines, SATS and 3Sixty, which was formerly called DFASS Group, finalized their tie-up to operate KrisShop and Scootalogue retail programs in Singapore for in-flight duty-free and ground-based duty-paid goods, in addition to pre-order and mail order services, it said in a filing to SGX on Friday.

Under the deal, the three companies jointly invested around S$35 million in KrisShop, with SIA holding 70 percent, while 3Sixty  (Singapore) and SATS will each hold 15 percent, it said.

United Engineers

United Engineers said its wholly owned subsidiary, UE Dairy Farm, entered a facility agreement with DBS Bank, OCBC and UOB for secured term loan facilities of S$333 million in relation to the company being awarded the tender for a land parcel at Dairy Farm Road at a tender price of S$368.8 million.

The facilities will be used to partially finance the site’s purchase price, the differential premium to be paid to the relevant authority and related construction and other costs for the site’s development, it said in a filing to SGX after the market close on Friday.

Halcyon Agri

Halcyon Agri said on Monday that it subscribed for all of the shares of two newly incorporated companies in the U.S. state of Delaware.

The first is Corrie MacColl North America, which is primarily an investment company for Halcyon Agri’s US. assets, with 14 million shares issed at US$1.00 each, it said in a filing to SGX before the market open on Monday; the company was incorporated in late October.

The second is Centrotrade Rubber, which is primarily involved in the trading and distribution of natural rubber, latex and synthetic rubber, it said, adding it issued 3 million shares at US$1.00 each. Centrotrade Rubber was incorporated in late October, it said.

Halcyon Agri said the investments were funded with internal resources.


Keppel-KBS US REIT’s manager said on Monday that its acquisition of the Westpark portfolio was completed on Friday. It added that US$89.7 million raised in its rights issue, or around 96.3 percent of the gross proceeds, was used to partially fund the purchase.

Perennial Real Estate Holdings

Perennial Real Estate Holdings said on Friday that its indirect 49.9 percent owned associate, Shanghai Yixian Renshoutang Eldercare Group, increased its registered capital to 128.46 million yuan, or around S$25.45 million, from 82.46 million yuan.

The capital increase will be used to finance Renshoutang’s working capital requirements, it said in a filing to SGX after the market close on Friday.

Spackman Entertainment Group

Spackman Entertainment Group said on Monday that its film, Default, sold 1.57 million tickets in the four days since its release, grossing US$11.4 million in box office revenue, and taking 43.0 percent of market share on Sunday.

This article was originally published on Monday 3 December 2018 at 7:34 A.M. SGT; it has since been updated to add items on ARA Asset Management and Halcyon Agri. 

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