UPDATE: Singapore stocks to watch Thursday: Keppel, Perennial, Golden Energy, Aspial, China Everbright

These are Singapore stocks which may be in focus on Thursday, 19 December 2018:


Keppel Land China was awarded a 10.97 ha residential site in a public land tender for the Sino-Singapore Tianjin Eco-City for 1.07 billion yuan, or around S$214 million, Keppel Corp. said in a filing to SGX on Wednesday.

Read more: Keppel Land China obtains residential site in Sino-Singapore Tianjin Eco-City

Perennial Real Estate

Perennial Real Estate said on Thursday that its 45 percent-owned joint venture, Perennial HC Holdings, was awarded the tender by the People’s Government of Chenggong District, Kunming, Yunnan Province to develop two plots of land next to the Kunming South High Speed Railway Station.

Read more: Perennial Real Estate: China JV awarded land tender in Yunnan

Golden Energy and Resources

Golden Energy and Resources (GEAR) said on Wednesday that it had incorporated a new, wholly owned subsidiary in Singapore, called GEAR Innovation Network, or GIN, with an issued share capital of US$2 million.

GIN’s principal activity will be research and development of digital services for the mining, energy and resources industries, it said in a filing to SGX after the market close on Wednesday.

“To develop capabilities and create intellectual property in these areas, GIN will engage start-ups, emerging resource companies, technology companies and established institutes of higher learning,” GEAR said. “GIN is currently in advanced discussions with the Singapore Economic
Development Board on a partnership to engage the Singapore innovation ecosystem.”

It added that it expected GIN to begin operations by the first half of next year.

Aspial and Fragrance Group

Aspial Corp. said on Wednesday that Bayfront Ventures, its 50:50 joint venture with Fragrance Group, has obtained the Temporary Occupational Permit (TOP) for its CityGate project.

Aspial said it would use part of the TOP proceeds to fully pay off existing loans for CityGate and that it expected to receive net cash proceeds.

The balance of TOP proceeds and from the expected proceeds from the Certificate of Statutory Completion (CSC) and Subsidiary Strata Certification of Title (SSCT), both of which are expected within six months, are earmarked to repurcahse some existing bonds and notes from the market, Aspial said.

China Everbright Water

China Everbright Water said on Wednesday that it obtained the Nanjing Pukou Pearl River Waste Water Treatment and Reusable Water Plant Project Phase II, which requires an investment of around 200 million yuan.

The second phase of the project will be on a build-operate-transfer (BOT) model, with a designed daily water treatment capacity of 40,000 cubic meters, it said in a filing to SGX after the market close on Wednesday.

The company said it obtained the project’s phase I in 2015 and it commenced operations in 2017.


Shares of medical technology firm Biolidics ended at S$0.235 after opening the debut day of trading at S$0.265 on Wednesday, off the IPO price of S$0.28.

Mohamed Nasser Ismail, head of equity capital market (SME) and head of capital market development at SGX, said that SGX looked forward to supporting Biolidics as it expands in diagnostics and other specialties.

Duty Free International

Duty Free International said on Wednesday that its 70 percent-owned subsidiary, Brand Connect Holding, incorporated a wholly owned subsidiary in Singapore called Thirsty Boys for the wholesale of liquor, soft drinks and beverages.

Thirsty Boys has issued and paid-up capital of US$2.00, it said in a filing to SGX after the market close on Wednesday.

This article was originally published on Wednesday, 19 December 2018 at 7:50 A.M. SGT; it has since been updated to include an item on Keppel Corp. 

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