UPDATE: Singapore stocks to watch Thursday: Ascendas REIT, Grab, Frasers Hospitality, OUE Commercial

The OUE Bayfront building in Signapore’s central business district. Credit: Shenton WireThe OUE Bayfront building in Signapore’s central business district. Credit: Shenton Wire

These are Singapore stocks which may be in focus on Thursday, 31 January 2019:

This article was originally published on Thursday, 31 January 2019 at 12:25 A.M. SGT; it has since been updated to add an item on Noble Group. 

Ascendas REIT and Grab

Ascendas REIT agreed to design, develop and manage ride-sharing platform Grab’s new headquarters in Singapore in a S$181.2 million build-to-suit project, it said in a filing to SGX after the market close on Wednesday.

Read more: UPDATE: Ascendas REIT to develop S$181 million build-to-suit project for Grab headquarters

Frasers Hospitality, Far East Orchard, Far East Hospitality and OUE

The Competition and Consumer Commission of Singapore announced fines of a total S$1.52 million on Wednesday against the owners and operators of several hotels, saying that they shared pricing details on their corporate customers and caused “serious harm to competition.”

The hotels were the Capri by Fraser Changi City Singapore, the Village Hotel Changi, the Village Hotel Katong and the Crowne Plaza Changi Airport Hotel, CCCS said in a statement on Wednesday.

Read more: UPDATE: Singapore competition regulators fine Capri, Village Hotels, Crowne Plaza for sharing data

Ascendas REIT

Ascendas REIT reported on Wednesday its fiscal third quarter net property income increased 6.6 percent on-year to S$168.0 million on contributions from newly acquired and redeveloped properties and lower property tax expenses. The results missed forecasts from Daiwa.

Read more: Ascendas REIT reports fiscal 3Q net property income rose on UK and Australia acquisitions

OUE Commercial REIT

OUE Commercial REIT reported on Wednesday that its fourth quarter net property income rose 5.6 percent on-year to S$36.64 million, mainly on contributions from OUE Downtown Office, acquired at the beginning of November.

Read more: OUE Commercial REIT 4Q18 net property income rises on OUE Downtown Office acquisition

Frasers Hospitality Trust

Frasers Hospitality Trust reported on Wednesday that its fiscal first quarter net property income slipped 1.2 percent on-year to S$31.1 million, mainly on a weaker performance for the Malaysia and Japan portfolios.

Read more: Frasers Hospitality Trust fiscal 1Q net property income slipped on Malaysia, Japan weakness

Yangzijiang Shipbuilding

Yangzijiang Shipbuilding said on Wednesday that its wholly owned subsidiary Jiangsu Yanghong Marine Import and Export acquired the remaining 40 percent of Jiangsu Yangzi Zhuoneng Industrial it didn’t already own for 20 million yuan (S$4.02 million).

Read more: Yangzijiang acquires 40 percent of Zhuoneng it didn’t already own for 20 million yuan

Noble Group

Troubled commodity trader Noble Group said on Thursday that shareholders must take action to receive their shares in the post-restructuring entity, New Noble, although there still isn’t a way to trade those shares.

Read more: Noble: Shareholders must take action to receive shares in New Noble

Mapletree Logistics Trust

Mapletree Logistics Trust said on Wednesday that it completed the acquisition of a warehouse in Vietnam-Singapore Industrial Park I, located in Binh Duong province of Vietnam. The deal was initially announced in November.

After the acquisition, the trust’s portfolio has risen to 141 properties across Singapore, Hong Kong, Japan, South Korea, China, Australia, Malaysia and Vietnam, it said in a filing to SGX after the market close on Wednesday.

Read more: Mapletree Logistics Trust to acquire Vietnam property for S$43 million

Japan Foods

Japan Foods reported on Wednesday that net profit for its fiscal third quarter dropped 51.3 percent on-year to S$1.2 million on higher expenses and its customer loyalty program.

Read more: Japan Foods reports fiscal 3Q net profit drops more than 50 percent on higher expenses

Oxley Holdings

Oxley Holdings said on Wednesday that its wholly owned subsidiary Oxley Druzy changed its name to Oxley Fund Management.

The subsidiary is intended to manage a fund that seeks to invest in properties and/or property-related entities in Singapore, it said in a filing to SGX after the market close on Wednesday.

Y Ventures

Y Ventures pointed on Wednesday to specific inadequacies, including using Excel for inventory management, as leading to its need to restate its first-half results to a loss.

Read more: Y Ventures points to specific inadequacies for erroneous accounting


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