UPDATE: Singapore stocks to watch Monday: Thai Beverage, Ezion, Pine Capital, AA REIT, DeClout

Singapore street scene in Tanjong Pagar neighborhood; taken 31 August 2018.Singapore’s Tanjong Pagar neighborhood.

This article was originally published on Saturday, 2 March 2019 at 23:31 SGT; it has since been updated to include DeClout and to update Ezion and AIMS AMP Capital Industrial REIT.

These are Singapore companies which may be in focus on Monday, 4 March 2019:

Thai Beverage

Thai Beverage said on Friday it issued debentures for a total principle amount of 53 billion Thai baht (S$2.26 billion or US$1.67 billion), which were assigned a AA (stable outlook) rating by TRIS Rating, a Thai credit rating agency.

Under the issuance, there were three tenors: 31.6 billion baht of two year and 21 day notes due 2021 at 3.0 percent per annum; 11.3 billion baht of five-year notes due 2024 at 3.5 percent per annum; and 10.1 billion baht of 10-year notes due 2029 at 4.0 percent per annum.

Read more about Thai Beverage.

Ezion Holdings

Oil vessel charterer Ezion Holdings requested a mandatory suspension of its shares on Monday, effective immediately. That followed a voluntary suspension on Friday citing advanced discussions with a potential strategic investor which has begun some due diligence.

Read more: Ezion requests suspension of shares to prevent irregular trading activities

Ezion Holdings

Offshore and marine vessel company Ezion Holdings reported on Friday its fourth quarter loss after tax widened to US$390.83 million (S$529.65 million), from a loss of US$331.13 million in the year-earlier quarter as utilization and charter rates fell and amid an industry credit crunch.

Read more: Ezion reports 4Q18 loss after tax widened


Singtel’s Optus has entered a tie-up with Australian supermarket operator Coles to provide high-capacity fiber services across Coles’ retail, distribution and support centers, it said in a filing to SGX on Friday. Under the deal, an improved range of Optus products will also be provided to Coles’ customers in-store, it said.

Read more about Singtel.

AIMS AMP Capital Industrial REIT

The manager of AIMS AMP Capital Industrial REIT, or AA REIT, on Friday issued an update that the sale of a 50 percent shareholding in the management entities of the REIT by AMP Capital to AIMS Financial Group did not take place at end-February.

“The manager understands that there is disagreement between AIMS Financial Group and AMP Capital arising from the transaction. There is no certainty that the transaction will proceed,” it said in a filing to SGX on Friday.

“The manager continues to run its business and operations normally and does not expect the current status of this matter to have any material impact on AA REIT’s operations for the current financial year,” it added.

On Monday, it requested the trading halt on its units be lifted.

Read more: AIMS Financial Group proposes acquisition of rest of AA REIT


Kyowa-tied Exeo Global’s takeover bid for DeClout has become compulsory after acceptances rose above 90 percent of the maximum possible shares, it said in a filing to SGX on Sunday.

Read more: Exeo Global’s bid for DeClout is now compulsory

Pine Capital Group

Pine Capital Group said on Saturday that Tan Choon Wee had resigned as interim CEO and executive chairman, effective Friday, ahead of an attempt to oust him from the asset management group.

In a letter dated 7 February, Jessie Sun May Gze, Pine Partners Pte. Ltd. and JMO Pte., which collectively hold more than 50 percent of the Pine Capital shares, informed the board of an intention to hold an extraordinary general meeting (EGM) in part to remove Tan, Chong Chee Hoong and Ling Chung Yee Roy as directors, Pine Capital said in an SGX filing Saturday.

Read more: Pine Capital interim CEO resigns after shareholders plan his ouster

Uni-Asia Group

Uni-Asia Group reported on Friday it swung to a fourth quarter net loss of US$2.28 million from a year-earlier net profit of US$3.18 million amid valuation loss and impairment of containerships.

Separately, Uni-Asia said it promoted Zac K. Hoshino to senior managing director from managing director, effective Friday. Hoshino is responsible for the maritime business department of the group, it said.

Read more: Uni-Asia swings to 4Q18 net loss amid valuation loss for containerships

MoneyMax Financial Services

Pawnbroker MoneyMax Financial Services reported on Friday a fourth quarter net loss of S$360,000, swinging from a year-earlier net profit of S$2.28 million on lower retail revenue and higher expenses.

Read more: MoneyMax reports 4Q18 net loss on lower retail revenue

Global Palm Resources

Global Palm Resources reported on Friday its fourth quarter net loss widened to 7.7 billion Indonesian rupiah (S$739,958 or US$546,007), from a net loss of 3.9 billion rupiah in the year-earlier period, as crude palm oil (CPO) prices fell and on lower palm kernel prices and sales volume.

Read more: Palm oil prices weigh on Global Palm’s 4Q18 earnings

Nera Telecommunications

Nera Telecommunications reported on Friday full year net profit of S$7.8 million, nearly flat on-year, on turnover of S$166.9 million, down 14 percent on-year.

Lower order in-take from the Middle East and Africa markets, ,as well as delays in completing projects in the network infrastructure (NI) and wireless infrastructure network (WIN) segments cause the revenue decline, it said in a filing to SGX on Friday.

“Amidst the ongoing wave of digitisation, the group has identified several new growth opportunities, namely, cybersecurity, data analytics, and automation,” Neratel said in its outlook. “Digitisation has been a major growth driver for many well-established economies over the past few years, while emerging economies are also following suit.”

Ho Bee Land

Ho Bee Land said on Friday that it acquired the 30 percent of HBS Investments it didn’t already own from EnGro Corp. for S$2.17 million.

HBS currently owns two units of Parliament View residential apartments at 1 Albert Embankment, London, it said, adding that Parliament View was developed by Parliament View Developments Ltd. (PVDL), which is a wholly owned subsidiary of HBS.

Read more about Ho Bee Land.

Parkson Retail Asia

Parkson Retail Asia said on Friday it appointed Chua Tian Pang, age 46, as chief financial officer, effective Friday. From January 2013 to February 2019, Chua was chief financial officer at Focus Point Holdings, and prior to that role, was group financial controller at Warisan TC Holdings, it said in a filing to SGX on Friday.

Read more about Parkson Retail Asia.

Kencana Agri

Kencana Agri said on Friday that Ajis Chandra, age 56, resigned as the head of bulking and logistics due to the resignation of his role and responsibilities in the group.

Food Empire

Food Empire said on Friday that its wholly owned subsidiary FES International FZE (DAFZA), or FZE, subscribed for an additional 100 shares in its wholly owned subsidiary Bexar for 9.10 million euros, or around US$10.36 million, via capitalizing an amount Bexar owed FZE.

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