Singapore stocks to watch Thursday: Singtel, M1, Grab, Frasers Centrepoint Trust

On Singapore’s National Day, 9 August 2014, helicopters fly the flag toward the National Day Parade.On Singapore’s National Day, 9 August 2014, helicopters fly the flag toward the National Day Parade.

These are Singapore companies which may be in focus on Thursday, 7 March 2019:

Singtel

Moody’s Investors Service on Wednesday revised the ratings outlook for Singtel Optus and Optus Finance to negative, saying Singtel’s weaker financial profile may affect its ability to support the two.

On Tuesday, Moody’s cut its outlook for Singtel’s A1 rating to negative from stable, pointing to the Singapore telco’s increased leverage and weaker earnings outlook.

Read more: Moody’s revises Singtel Optus and Optus Finance ratings outlook to negative

M1

Konnectivity said on Wednesday it would compulsorily acquire all the M1 shares from holders who haven’t accepted its S$2.06 a share takeover bid and then delist the Singapore telco.

Read more: Konnectivity to compulsorily acquire rest of M1 shares

Grab

Singapore-based ride-hailing firm Grab received US$1.46 billion in fresh series-H funding from Softbank Vision Fund, bringing its total funding to around US$4.5 billion, Insider Stories reported on Wednesday.

The series-H funding round also included Toyota Motor, Oppenheimer Funds, Hyundai Motor Group, Booking Holdings, Microsoft Corp., Ping An Capital and Yamaha Motor Corp., the report said.

Read more: Singapore’s Grab Get New Funding From Softbank $1.46B

Frasers Centrepoint Trust

Moody’s Investors Service said on Wednesday it placed Frasers Centrepoint Trust’s Baa1 issuer rating on review for downgrade after the trust’s announcement it entered deals to acquire an around 17 percent stake in PGIM Real Estate AsiaRetail Fund.

In late February, Frasers Centrepoint Trust said it entered deals to buy 90,346 shares in PGIM Real Estate AsiaRetail Fund for an aggregate S$342.5 million via 12 separate agreements with certain shareholders.

Read more: Moody’s puts Frasers Centrepoint Trust on review for downgrade

Frasers Logistics & Industrial Trust

Prudential PLC and Prudential Corp. Asia became substantial shareholders of Frasers Logistics & Industrial Trust, with their deemed interests rising above the 5 percent threshold to 5.2297 percent from 4.79603 percent, the trust said in separate filings to SGX after the market close on Wednesday.

That was after the acquisition of 8.78 million units at S$1.1271 each, the filing said.

Prudential PLC and Prudential Corp. Asia are deemed to have an interest in the units managed by subsidiaries as fund managers, the filings said.

Read more about Frasers Logistics & Industrial Trust.

OKP Holdings

OKP Holdings said on Wednesday the issued and paid-up capital of associated company USB (Phoenix) was increased to S$2 million from S$2 via the issue of 1,999,998 new ordinary shares at S$1.00 each to holding company USB Holdings.

OKP holds 25 percent of USB Holdings, it said in the filing to SGX after the market close on Wednesday.

Read more about OKP Holdings.

 

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