UPDATE: Singapore stocks to watch Monday: DBS, Halcyon Agri, Hyflux, SIA Engineering, Raffles Education, Noble


These are Singapore stocks which may be in focus on Monday 17 December 2018:

DBS and Halcyon Agri

DBS Bank and Halcyon Agri entered a tie up to launch a digital marketplace, called HeveaConnect, to trade sustainably processed natural rubber, the two said in a filing to SGX before the market open on Monday.

Read more: DBS and Halcyon Agri tie up for digital sustainable rubber trading platform

Fragrance Group and Aspial Corp.

AF Global, a joint venture between Fragrance Group and Aspial Corp., said on Monday that it had agreed to sell all of LC London for around 84.36 million British pounds, or around S$145.81 million.

Read more: Fragrance-Aspial joint venture to sell LC London for around S$145.81 million

Hyflux

Troubled water infrastructure player Hyflux said on Friday that the suspension of a contract in Iran after the U.S. moved to reinstate sanctions on the Middle Eastern country would have “a material adverse effect on the financial performance of the group.”

Read more: Hyflux: Suspended Iran contract expected to have ‘material’ effect on earnings

SIA Engineering

SIA Engineering said on Friday that it would divest its wholly owned Australia-based subsidiary, Aircraft Maintenance Services Australia, or AMSA, to Heston Services.

Read more: SIA Engineering to divest AMSA to Heston Services

Raffles Education

Raffles Education said on Friday that two shareholders who together hold more than 10 percent of the company are seeking an extraordinary general meeting in a move to stop the company’s planned rights issue, which is intended to repay loans from the CEO.

Read more: Raffles Education: Two large shareholders seek vote to stop rights issue

Noble Group

Noble Group said late on Friday that the Bermuda court granted an order appointing an officer of the court to facilitate implementing the Sisyphean restructuring of troubled commodity trader.

Read more: Noble Group: Bermuda court appoints officer to complete restructuring

China Everbright Water

China Everbright Water said on Friday that it obtained the Jiangsu Xuzhou Yanqun Household Waste Landfill Leachate Treatment Project, which requires an investment of around 51.46 million yuan.

Read more: China Everbright Water obtains Xuzhou City waste treatment project

Dairy Farm

Dairy Farm said on Monday that it completed the acquisition of the remaining 51 percent of Rose Pharmacy it didn’t already own from BRG Realty Corp., which is owned by the founders of Rose Pharmacy, the Lim family. Dairy Farm now owns all of Rose Pharmacy, it said.

Noble Group

Noble Group said on Friday that it transferred all of its 50 percent voting interest in Harbour Energy GP to EIG Global Energy Partners, resulting in Harbour Energy GP ceasing to be an associated company.

The transfer was made in consideration of EIG consenting to Noble transferring its 33.33 percent interest in associated company EIG Harbour Energy Advisor LP from Noble Resources Ltd. to Newmight Ltd., Noble said in a filing to SGX after the market close on Friday.

Both Noble Resources and Newmight are wholly owned subsidiaries of Noble, it said, adding the transfer was related to Noble’s restructuring plan.

Based on Noble’s financial results for the period ended 30 September, the book value attributable to Harbour Energy GP is nil, it said, adding no monetary consideration was received for the transfer.

Yanlord Land

Yanlord Land said on Friday that it has established two entities in China.

The first was Xingheng (Shenzhen) Investment Management, which was established by Yanlord’s wholly owned subsidiary Yanlord (Shenzhen) Investment Management, in Shenzhen with registered capital of 1 million yuan, it said in a filing to SGX on Friday. The new subsidiary will focus on investment holding, it said.

In addition, Nanjing Yanlord Cultural Tourism Industry Development, a wholly owned subsidiary of Yanlord Land, set up Shanghai Yanlord Entertainment Development in Shanghai with a registered capital of 2 million yuan, with a principal activity of cultural, art performance and other related services, it said.

This article was originally published on Monday 17 December 2018 at 7:11 A.M. SGT; it has since been updated to include items on DBS, Halycon Agri, AF Global and Dairy Farm. 

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