Singapore stocks to watch Thursday: First REIT, City Developments, Sino Grandness

City Developments building and Lau Pa Sat food court in Singapore’s central business district (CBD); taken October 2018.City Developments building and Lau Pa Sat food court in Singapore’s central business district (CBD).

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

First REIT

First REIT reported on Wednesday its fourth quarter net property income rose 1.9 percent on-year to S$28.53 million, bolstered by the contributions from new properties acquired during the past year, Siloam Hospitals Buton & Lippo Plaza Buton and Siloam Hospitals Yogyakarta (SHYG).

Read more: First REIT reports 4Q18 net property income rose nearly 2 percent on new acquisitions

City Developments

City Developments said on Wednesday it was selected for the 2019 Bloomberg Gender-Equality Index (GEI), its second year to be listed in the index, which was launched in 2018 and uses a standardized framework to track gender equality across company statistics, policies, community engagement and products and services.

Sherman Kwek, City Development’s group CEO, noted that the real-estate industry has traditionally been male dominated, but in his company, women make up 70 percent of the workforce and 47 percent of department heads.

“A diverse workforce enables us to make better decisions and achieve superior outcomes. Our diversity across genders, age groups, cultures and geographies has given us a strong strategic advantage and we will continue to support the professional development of all employees within our group,” Kwek said.

China Everbright Water

China Everbright Water proposed on Wednesday issuing up to 700 million yuan worth of corporate bonds as the third tranche under its 2.5 billion yuan China yuan-denominated bond program.

Read more: China Everbright Water plans bond issuance of up to 700 million yuan

Sino Grandness

Sino Grandness pointed on Wednesday to a letter of demand from lender Soleado Holdings on 8 January for a loan repayment. That was in response to queries from SGX on a sharp drop in its share price on Monday.

Read more: Sino Grandness points to demand letter from lender Soleado after stock fall

Yanlord Land

Yanlord Land said on Wednesday that its subsidiary Shanghai Renpin Property Development sold a car park lot and a property unit in Shanghai for 460,000 yuan and 16.03 million yuan, respectively. The properties are located at Shanghai Yanlord on the Park, Nong 88, it said.

The car park was sold to Ho Su Ann, sister-in-law of Zhong Siliang, a director of the company, with no special discount, with the price based on the market price offered to the general public, it said in a filing to SGX after the market close on Wednesday.

The property unit was sold to Zhong Sixia, who is deputy director of company subsidiary Yanlord Land Investment Management (Shanghai) and niece of Zhong Sheng Jian, a director and controlling shareholder of the company, it said, adding it was priced at a 5 percent discount to the market price under an existing employee program.

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