Singapore stocks to watch Wednesday: Chip Eng Seng, ST Engineering, Singapore Airlines, Midas, CapitaLand

A Singapore Airlines Scoot plane on the tarmac at Changi Airport in October 2018.A Singapore Airlines Scoot at Changi Airport

These are Singapore stocks which may be in focus on Wednesday, 16 January 2019:

Chip Eng Seng

Chip Eng Seng said on Tuesday that its wholly owned subsidiary CELH Development was the top bidder  in the Singapore government’s sale of a land parcel at Kampong Java Road with a S$418.38 million tender.

Read more: Chip Eng Seng submits top bid for Kampong Java Road land parcel at S$418.38 million

ST Engineering

ST Engineering said on Tuesday that its aerospace segment obtained new contracts valued at around S$450 million in the fourth quarter of 2018, bringing its full-year total to around S$2.06 billion.

Read more: ST Engineering aerospace segment lands S$450 million contracts in 4Q18

Singapore Airlines

Singapore Airlines said on Tuesday that its group passenger load factor (PLF) improved 0.3 percentage point in December to 85.0 percent, while passenger carriage, measured in revenue passenger kilometers, increased 7.2 percent on-year, outpacing a 6.8 percent increase in capacity.

Read more: Singapore Airlines passenger loads improved in December

Sembcorp Marine

Sembcorp Marine said on Tuesday that its subsidiaries Sembcorp Marine Repairs and Upgrades (SMRU) and Semb-Eco entered into a share swap deal with Ecospec Global Technology (EGT) and their shareholders Chew Hwee Hong and Neonlite Investments.

Read more: Sembcorp Marine to increase Semb-Eco stake, divest Ecospec Global in share swap deal

CapitaLand

CapitaLand said on Tuesday it increased its shareholding in its wholly owned subsidiary Citadines OMR ApartHotel, or COMRPL, which allotted an additional 62,500 new shares at an issue price of 320 rupees a share for a total consideration of 20 million rupees, or around S$391,200, to Ascott International Management, or AIM.

AIM is one of two existing COMRPL shareholders and is another wholly owned CapitaLand subsidiary, it said in a filing to SGX after the market close on Tuesday. COMRPL is an India-based investment holding company.

The proceeds of the share increase will be used to fund general working capital requirements for COMPRL’s serviced residence property known as Citadines OMR Chennai, in Chennai, India, it said.

Midas Holdings

Midas Holdings said on Tuesday that it viewed Jindou Investment Holding Group’s agreement with the judicial manager, Jilin Province Qiming Bankruptcy Liquidation, to acquire the assets of Jilin Midas Aluminium Industries for 1.76 billion yuan as invalid.

Read more: Midas: View Jindou Group’s deal to acquire Jilin Midas assets as invalid

 

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