Singapore stocks to watch Tuesday: CapitaLand, ST Engineering, Citic Envirotech, SBS Transit

On Singapore’s National Day, 9 August 2014, helicopters fly the flag toward the National Day Parade.On Singapore’s National Day, 9 August 2014, helicopters fly the flag toward the National Day Parade.

These are Singapore stocks which may be in focus on Tuesday, 15 January 2019:

CapitaLand and related REITs

CapitaLand and related trusts and REITs requested the lifting of trading halts after the market close on Monday.

That was following an announcement earlier Monday that CapitaLand entered a deal with Temasek’s Ascendas-Singbridge, or ASB, to acquire two subsidiaries in a deal with an enterprise value of S$11 billion.

After the market close on Monday, CapitaLand, CapitaLand Mall Trust, CapitaLand Retail China Trust, CapitaLand Commercial Trust, Ascott Resident Trust, Ascendas Hospitality Trust, Ascendas REIT and Ascendas India Trust all requested that their trading halts be lifted.

ST Engineering

ST Engineering said on Monday that its marine arm obtained new contracts valued at S$560 million in the fourth quarter of 2018.

Read more: ST Engineering marine arm obtains S$560 million new contracts in 4Q18

Citic Envirotech

Citic Envirotech said on Monday that it obtained three China projects valued at an aggregate 1.46 billion yuan.

Read more: Citic Envirotech obtains three China projects valued at aggregate 1.46 billion yuan

ST Telemedia

ST Telemedia said on Monday that it priced S$350 million 5.0 percent subordinated perpetual securities, which are expected to be issued on 17 January and listed on SGX-ST on or around 18 January.

Read more: Temasek-tied ST Telemedia priced S$350 million perpetual securities

SBS Transit and ComfortDelGro

SBS Transit has appointed Yang Ban Seng as executive deputy chairman and CEO, with effect from 15 January, it said in a filing to SGX after the market close on Monday.

Read more: SBS Transit taps Yang Ban Seng as executive deputy chairman and CEO

Sapphire Corp.

Sapphire Corp. said on Monday its 97.6 percent-owned subsidiary Ranken Railway Construction Group obtained an EPC contract valued at 832 million yuan related to its public-private partnership (PPP) project in Chengdu, its largest contract win in recent years.

Read more: Sapphire lands 832 million yuan EPC contract in Chengdu

Lian Beng

Contractor Lian Beng reported on Monday that its fiscal second quarter net profit rose 21.3 percent on-year to S$7.73 million despite a decline in revenue amid lower expenses.

Read more: Lian Beng reports fiscal 2Q net profit rises 21 percent despite lower revenue

Aspial Corp.

Aspial Corp. said on Tuesday that its noteholders tendered S$15 million of the 5.05 percent series 003 notes due 2019, reaching its buyback cap, with the company saying it won’t be repurchasing any further notes.

Earlier this month, Aspial had proposed repurchasing up to S$15 million of the notes issued under its S$700 million multicurrency debt issuance program.

Payment for the repurchased notes has been settled and they will be cancelled, Aspial said.

Perennial Real Estate Holdings

Perennial Real Estate Holdings said on Monday that its wholly owned subsidiary Perennial Management Investment Holdings (PMIHPL) entered a joint venture agreement with Wise Horizon Developments (WHDL), a subsidiary of Shun Tak Holdings, for an asset and project management company.

Perennial HC Holdings, or PHCHPL, which is Perennial’s 45 percent-owned associated company, intends to appoint the joint venture to undertake asset and project management activities, it said in a filing to SGX after the market close on Monday.

PHCHPL was established to enter a joint venture with a consortium of investors to invest in HSR Healthcare and Commercial Integrated Developments in China, it said.

Under the joint venture, WHDL will acquire 10 percent of Perennial Healthcare Real Estate Management from PMIHPL, which will continue to hold 90 percent, it said.

CSE Global

CSE Global said on Monday that it has obtained infrastructure project contracts of a total S$84.8 million in the fourth quarter, bringing its full-year total to S$150.5 million, up 43.6 percent on-year.

The new orders included government contracts in Singapore, with the projects ranging from process control services and systems, telecommunications and security systems and maintenance works, it said in a filing to SGX after the market close on Monday.

Swiber Holdings

Swiber Holdings said on Monday the Accounting and Corporate Regulatory Authority (ACRA) denied its appeal of ACRA’s rejection of its request to delay its 2017 annual general meeting and release its 2016 financial statements.

The regulator issued letters to the company directors offering composition fines for the company’s failure to hold the 2017 AGM by 1 December 2017 and to lay its 2016 financial statements at that meeting, Swiber said.

“The directors have each accepted ACRA’s offer of composition and paid the composition fines,” Swiber said. “ACRA has also informed that with such acceptance of ACRA’s offer of composition, ACRA will not proceed with further prosecution against the directors in court.”

TEE International and TEE Land

TEE International said on Monday that the strategic review of its subsidiary TEE Land, announced in mid-December, was still in progress.

Since the announcement of the review, the company has been approached by interested parties with different proposals for TEE Land’s business and assets, TEE International said in a filing to SGX after the market close on Monday.

“While the company has engaged in preliminary discussions with these interested parties, it is still in the process of reviewing the proposals,” it said. “Shareholders should note that there is no assurance that any transaction will materialise from the strategic review or that any definitive or binding agreement will be reached.”

Hi-P International

Hi-P International said on Monday that the registered capital of its indirect wholly owned subsidiary Hi-P (Suzhou) Electronics Technology has been increased by US$10 million to US$73.5 million.

The US$10 million will be funded via internal resources, it said.

Hi-P continues to hold all of the subsidiary via wholly owned subsidiary Hi-P Flex, it said.

China Sunsine Chemical

China Sunsine Chemical said on Monday that its wholly owned subsidiary, Shandong Sunsine Chemical, obtained government approval for a trial run of its 30,000-ton accelerator TBBS expansion project. The project has been split into two phases, with the phase one 10,000-ton production line completed, it said in a filing to SGX after the market close on Monday.

Once the trial run is completed successfully, commercial production will commence, said China Sunsine, which is the largest accelerator producer globally.

SLB Development

SLB Development reported on Monday a fiscal second quarter net loss of S$270,000, swinging from a year-ago profit of S$8.92 million. Revenue for the quarter ended 30 November fell 82.32 percent on-year to S$6.56 million.

The Catalist-listed company said the decline in revenue was mainly on lower contribution from the industrial property development project, T-Space @ Tampines in the second quarter as the project was substantially completed in June 2018.

Raffles United

Raffles United reported on Monday that its 2018 net profit fell 46 percent on-year to S$1.83 million, while revenue fell 6 percent on-year to S$68.44 million.

The revenue decline was mainly due to the bearings and seals segment, which faced stiff competition in the dealers’ market, a cyclical downturn in the OEM market in Singapore and longer delivery time from some suppliers, resulting in delays in fulfilling some customers’ orders, it said in a filing to SGX after the market close on Monday.

Profit declined amid an increased foreign exchange loss and higher other operating expenses, it said.

Raffles United requested that the trading halt on its shares be lifted.

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