UPDATE: Singapore stocks to watch Wednesday: CapitaLand Mall Trust, Suntec REIT, Mapletree Industrial, Keppel DC

Singapore street in Bugis neighborhood with CapitaLand Mall Trust building; taken August 2018.Singapore’s Bugis neighborhood with CapitaLand Mall Trust building.

These are Singapore stocks which may be in focus on Wednesday, 22 January 2019:

CapitaLand Mall Trust

CapitaLand Mall Trust reported on Wednesday that its net property income for the fourth quarter rose 4.3 percent on-year to S$124.43 million after the acquisition of the remaining 70 percent of Westgate mall it didn’t already own. That beat forecasts from Daiwa.

Read more: UPDATE: CapitaLand Mall Trust 4Q18 net property income rises, beating some forecasts

Suntec REIT

Suntec REIT reported on Wednesday that its net property income for the fourth quarter rose 2.3 percent on-year to S$60.73 million, boosted by higher revenue from the Suntec Singapore, 177 Pacific Highway and Suntec City Mall properties.

Read more: Suntec REIT 4Q18 net property income rises amid higher Suntec Singapore revenue

Mapletree Industrial Trust

Mapletree Industrial Trust reported on Tuesday that its net property income for the fiscal third quarter rose 1.4 percent on-year to S$71.88 million.

Read more: Mapletree Industrial Trust fiscal 3Q net property income rises, but misses Daiwa forecast

Keppel DC REIT

Keppel DC REIT reported on Tuesday that its fourth quarter net property income rose 30.1 percent on-year to S$42.47 million, mainly on the acquisitions of KDC SGP 5 and maincubes DC. Full-year earnings beat forecasts from DBS and JPMorgan.

Read more: UPDATE: Keppel DC REIT reports 4Q18 net property income rose 30 percent on new acquisitions, beating forecasts

Keppel Infrastructure Trust

Keppel Infrastructure Trust reported on Tuesday that profit attributable to unitholders more than doubled to S$20.41 million in the fourth quarter, from S$9.61 million in the year-ago period on higher contributions from Basslink.

Read more: Keppel Infrastructure Trust 4Q18 net profit more than doubled on Basslink contributions

Grand Venture

Grand Venture Technology, or GVT, said on Tuesday that its initial public offering (IPO) met with strong support and was fully subscribed.

Read more: Grand Venture Technology IPO fully subscribed

CapitaLand

CapitaLand said on Tuesday that it was ranked in the Global 100 Most Sustainable Corporations in the World index by Corporate Knights Inc. for the seventh year.

This year it was ranked 33rd, jumping 65 places from the previous year, it said in a filing to SGX.

“Being recognised as one the world’s most sustainable real estate players affirms CapitaLand’s efforts to place sustainability as an integral part of CapitaLand’s global business,” Tan Seng Chai, CapitaLand’s group chief people officer and chairman of the sustainability steering committee, said in the statement. “This focus not only allows us to future-proof our business, but to also safeguard the long-term interests of our stakeholders.”

City Developments

City Developments said on Tuesday that it took 25th place in the Global 100 Most Sustainable Corporations in the World index, making it the only Singapore company listed in the index for 10 straight years.

“In the face of climate change and its devastating impact, businesses must embrace sustainability as one of their top priorities to mitigate climate related risks,” Sherman Kwek, City Developments’ group CEO, said in the statement. “We must consistently explore sustainable alternatives to improve the way we operate. Looking ahead, CDL will drive innovation to develop more sustainable buildings, increase resource efficiency, and engage our stakeholders to build a sustainable future.”

In a separate statement, City Developments said it was recognized on the 2018 CDP global A-list for corporate climate action, the first and only Singapore company to rank. CDP is a non-profit which independently assesses companies’ environmental impacts.

Koufu

Food court operator Koufu landed boutique fund investor Albizia Capital as a strategic investor after it acquired 20.0 million shares, or a 3.6 percent stake, in a married deal at S$0.63 a share, matching its IPO price, it said in a filing to SGX on Tuesday.

Read more: Food court operator Koufu lands Albizia Capital as strategic investor

Dairy Farm

Dairy Farm International said on Tuesday that Group Finance Director Neil Galloway will leave the business on 31 March to return to live in the U.K. Galloway joined the group in 2013, it said in a filing to SGX after the market close on Tuesday.

The company is in the process of identifying a successor, and pending the appointment, internal arrangements will be made to lead the finance function, it said.

DeClout

Kyowa-tied Exeo Global’s takeover bid for DeClout has been declared unconditional after it received valid acceptances of the offer totalling more than 50 percent of its shares, it said in a filing to SGX before the market open on Wednesday. The total number of shares controlled by or agreed to be acquired reached around 407.75 million shares, or around 61.22 percent of issued shares, it said.

The closing date of the offer has been extended to 4 March from 18 February, it said.

Courts Asia

Nojima Asia Pacific said on Tuesday it has appointed PrimePartners Corporate Finance as its financial adviser for its takeover bid for Courts Asia.

It had previously used PricewaterhouseCoopers Corporate Finance (PwCCF) as financial adviser, but as PricewaterhouseCoopers LLP is Courts Asia’s auditor, PwCCF voluntarily withdrew to avoid the perception of conflict of interest, it said in a filing to SGX after the market close on Tuesday.

Asiaphos

Asiaphos said on Tuesday that it used a bridging loan of up to 10 million yuan granted by Mianzhu Mianxin Investment Development on Friday to repay a loan from SPD. It said the bridging loan was unsecured and involved a fee of 5,000 yuan a day, and that it would be repayable upon the disbursement of its new banking facility from SPD Rural Bank.

SPD extended a new banking facility of 5.2 million yuan and 4.8 million yuan to Sichuan Mianzhu Norwest Phosphate Chemical Co. and Deyang Fengtai Mining Co., respectively, for a one-year term, it said in a filing to SGX on Tuesday.

The new facility will be secured by land use rights for a site in Gongxing Industrial Zone in Sichuan province, it said.

Tee International

Tee International obtained new engineering contracts, bringing its order book to S$484 million, it said in a filing to SGX after the market close on Tuesday.

The contracts, which were awarded to wholly owned subsidiaries, include fit-out works for a data center and mechanical and electrical engineering works for an institution building in Singapore, Tee International said.

This article was originally published on Wednesday, 23 January 2019; it has since been updated to include items on Suntec REIT and Declout.

 

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