Singapore stocks to watch Thursday: Ascott Residence Trust, SGX, Raffles Infrastructure

These are Singapore companies which may be in focus on Thursday, 10 January 2019:

Ascott Residence Trust

Ascott Residence Trust entered a deal to sell serviced-residences property Ascott Raffles Place Singapore to an unrelated party for S$353.3 million, the REIT said in a filing to SGX after the market close on Wednesday.

Read more: Ascott Residence Trust divests Ascott Raffles Place Singapore for around S$353 million

Singapore Exchange

Singapore Exchange reported on Wednesday that for the month of December, total securities market turnover value was S$16.7 billion, down 22 percent on-month and down 13 percent on-year over 20 trading days, compared with 21 trading days in November and 20 in December 2017.

The securities daily average value, or SDAV, was S$837 million, down 19 percent on-month and down 13 percent on-year, SGX said. Total derivatives volume for December was 18.35 million, down 7 percent on-month and up 17 percent on-year, it said.

Raffles Infrastructure

Raffles Infrastructure said on Wednesday that its independent auditors, RT LLP, have included a “disclaimer of opinion,” on its 2017 financial statements due to the lack of “sufficient appropriate audit evidence” for forming an opinion.

Read more: Raffles Infrastructure: Auditors provide no opinion on financial statements, doubts on going concern

Duty Free International

Duty Free International reported on Wednesday that its fiscal third quarter net profit attributable to shareholders jumped 367.3 percent on-year to 15.2 million ringgit, from 3.3 million ringgit in the year-ago period, on higher revenue and a net foreign-exchange gain.

Read more: Duty Free International fiscal 3Q net profit jumps more than four times

Singapore Post

Singapore Post said on Wednesday that its wholly owned subsidiary, Singapore Post Enterprise (SPE) agreed with the purchaser of its shares in Vietnam-based logistics services provider Indo Trans Logistics (ITL) to increase the sale price to 660.96 billion Vietnamese dong from 47.58 billion dong previously.

“The adjustment was agreed by the parties to ensure that the company is no worse off as a result of recent exchange rate fluctuations of the Vietnamese dong against the Singapore dollar,” SingPost said in a filing to SGX after the market close on Wednesday.

SATS

SATS said on Wednesday that it has completed the divestment of SATS Yihai Kerry (Langfang) Food and it has ceased to have any interest in the company.

Yoma Strategic Holdings

Yoma Strategic Holdings said on Wednesday that its proposed issuance of Thai baht-denominated guaranteed bonds in Thailand have been assigned a AAA rating by TRIS Rating Co.

Raffles United

Raffles United said on Wednesday that it proposed a renounceable rights issue of up to 234.06 million new ordinary shares at an issue price of S$0.05 each on the basis of one rights share for each existing share to raise net proceeds of up to around S$11.6 million. The price is a 39.0 percent discount to the closing market price of S$0.082 on 8 January, it said.

Raffles United currently has a share base of 234.06 million shares, excluding treasury shares, it said.

“The company believes that the rights issue will enable the group to reduce its bank borrowings, finance the working capital requirements and strengthen the balance sheet,” it said in a filing.

The company will seek shareholders’ approval for the fund-raising at an extraordinary general meeting, or EGM, it said in a filing after the market close on Wednesday.

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