Singapore stocks to watch Wednesday: Keppel, SunMoon Food, Raffles Education, China Jinjiang

Singapore street sceneSingapore street scene

These are Singapore stocks which may be in focus on Wednesday, 2 January 2019:

Keppel Corp.

Keppel Land China entered a deal to acquire all of Beijing Chang Sheng Business Consulting, which owns a completed commerical property in Haidian District, Beijing, for 555 million yuan, or around S$111 million, in cash from A Li Yun Shan (Beijing) Business Consulting, Keppel said on Monday.

Read more: Keppel Land China enters deal to buy commercial property in Beijing

SunMoon Food

SunMoon Food tapped Zhang Ye, who is currently CEO of Alibaba-tied YiGuo, to replace Gary Loh Hock Chuan, age 51, as its CEO, effective on Monday, the distributor of fruits and vegetables said in an SGX filing on Monday.

Read more: SunMoon Food taps Alibaba-tied YiGuo CEO Zhang Ye as its new CEO

Raffles Education

Raffles Education said on Monday it wasn’t required to and would not be convening an extraordinary general meeting (EGM) after two shareholders sent a letter seeking the meeting in an effort to scuttle plans for a rights offering.

Read more: Raffles Education rejects bid for EGM aimed at scuttling rights issue

China Jinjiang Environment

China Jinjiang Environment said on Monday that it would proceed with an engineering, procurement and construction (EPC) deal to build a pilot mechanical-biological waste-treatment project in Singapore after shareholders approved the project in an extraordinary general meeting.

Read more: China Jinjiang Environment to proceed with pilot waste-treatment project in Singapore

Hyflux

Hyflux said on Monday that it obtained creditor Maybank’s approval to further extend the deadline to execute a binding agreement with a successful bidder or investor to 31 January.

In October, consortium SM Investments entered a binding agreement to invest S$530 million for a 60 percent stake in troubled water-treatment and power generation company Hyflux.

In May, Hyflux had filed for court protection, saying the oversupply of gas in Singapore’s market had resulted in depressed electricity prices, which hit earnings in 2017 and drove losses in the first quarter.

OUE Lippo Healthcare

OUE Lippo Healthcare on Monday clarified that to comply with China regulations, a new hospital operating company with its own hospital license would be set up for each of the three China Merchants Group (CMG) medical facilities which China Merchants Lippo Hospital Management (Shenzhen), or CMLHM, will be managing.

CMLHM, a 50:50 joint venture between OUELH and China Merchants Group, entered recently agreements to manage three of CMG’s medical facilities and will have a right under that deal to acquire an interest in the new hospital operating companies.

Cache Logistics Trust

Cache Logistics Trust completed the divestment of Jinshan Chemical Warehouse in Shanghai, China, with the sale of its entire interest in wholly owned subsidiary CWT Warehousing Transportation (Shanghai) Development, the REIT manager said on Monday.

Raffles Medical Group

Raffles Medical Group said on Wednesday that it has opened Raffles Hospital Chongqing, which is Singapore’s first international tertiary hospital in China, supporting the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity.

The hospital is owned and operated by Raffles Medical and has 700 beds with two tower blocks and will have a “full complement” of specialist services, it said.

Japfa

Japfa said on Tuesday that it restructured its dairy segment by transferring all of the shares in wholly owned dairy subsidiary AIH2 to Austasia Investment Holdings, or AIH, for US$130.47 million.

Read more: Japfa restructures dairy segment

Spackman Entertainment Group

So Ji Sub, who is represented by Fiftyone K, a wholly owned subsidiary of Spackman Media Group, won the “Top Excellence Award” and the “Grand Prize” at the 2018 MBC Drama Awards for his leading role in the drama Terius Behind Me, Spackman Entertainment Group said in an SGX filing on Monday.

Spackman Entertainment holds 43.88 percent of its associated company, Hong Kong-based talent agency Spackman Media Group, it said.

Terius Behind Me, a television series which was co-produced by Spackman Entertainment, also won “Drama of the Year” at the ceremony, it said.

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