Singapore stocks to watch Thursday: Sembcorp, Cache Logistics, Citic Envirotech, Hyflux

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 Thursday, 3 January 2019:

Sembcorp and Cache Logistics Trust

Sembcorp Industries and Cache Logistics Trust said on Wednesday that they signed a solar-power agreement to install and operate rooftop solar farms at three of Cache’s logistics warehouses in Singapore.

Read more: Sembcorp and Cache Logistics Trust sign rooftop solar project deal

Citic Envirotech

Citic Envirotech said on Wednesday that it entered a deal to acquire 65 percent of Nantong Guoqi Environmental Protection Technology from Nantong Xinyuan Investment Development for 81 million yuan after winning an open tender.

Read more: Citic Envirotech to acquire 65 percent stake in Nantong Guoqi

Hyflux

Hyflux said on Wednesday that Singapore Exchange Securities Trading, or SGX-ST, granted the company another extension through 30 June to file its financial statements for the second and third quarters of 2018 and for the fully year.

For the reasons it sought an extension, Hyflux pointed to the court-ordered moratorium on the payment of its debts and the negotiations with stakeholders over the terms of its restructuring.

“Given the pace and evolving nature of the negotiations, the release of financial statements of the company prior to in-principle agreement
of the main terms of the reorganization or prior to clarity being obtained on the main terms of any financing proposals to be put forth as part of reorganization, may potentially result in inaccurate and incomplete reflection of financial information,” Hyflux said in a filing to SGX late on Wednesday.

Soilbuild Construction

Soilbuild Construction said on Wednesday that the Housing and Development Board (HDB) had awarded it a S$28.3 million contract for designing and building upgrading projects.

The contracts comprise designing and building upgrading projects at Serangoon Ave 4 Blocks 218-222 and Bedok Reservoir Road Blocks 122-135, 631&632 and 136-151, the company said in a filing to SGX after the market close on Wednesday.

The construction period is around 20 months, it said.

Chip Eng Seng

Chip Eng Seng said on Wednesday that its 70 percent-owned subsidiary, White Lodge Education Group Services, or WLEGS, has opened a new pre-school and childcare center at 262 River Valley Road with a capacity of up to 65 placements.

Including the new center, WLEGS now operates 10 pre-school centers, with eight in Singapore and two in Malaysia, it said.

The remaining 30 percent of WLEGS is held by its two founders, Jayne Nadarajoo and Ganesh Kanapathy, it said.

Chip Eng Seng

Chip Eng Seng said on Wednesday that it opened its first Repton-brand pre-school center in Singapore, under its collaboration agreement with Repton International Schools to establish international kindergartens in the Asia Pacific region.

The center, located at Alexandra Central, had its first intake on Wednesday and it has capacity of up to 138 placements, it said in a filing to SGX. It is wholly owned by Chip Eng Seng, via a wholly owned subsidiary, it said.

BreadTalk

BreadTalk said on Wednesday that its wholly owned subsidairy Star Food entered a deal to sell its interest in Carl Karcher Enterprises (Cayman), or CKE, to CKE Asia Holdco (Cayman) for a total consideration of US$500,000.

Once the disposal is complete, Star Food and BreadTalk will cease to have any interest in CKE, it said in a filing to SGX after the market close on Wednesday.

Singtel

Singapore Telecommunications said on Wednesday that its indirect subsidiary SCS Computer Systems disposed of its 50 percent stake in Telescience Singapore to an existing Telescience shareholder for S$2.05 million in cash.

The unaudited net assets book value of Telescience was around S$3.52 million as of 30 September, it said in a filing to SGX after the market close on Wednesday.

After the transaction, Telescience has ceased to be an associated company of SCS, it said.

 

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