UPDATE: Singapore stocks to watch Tuesday: LMIR Trust, SATS, Wilmar, Hyflux, Accordia Golf

SATS Gateway Services bus at Changi AirportSATS Gateway Services bus at Changi Airport

This article was originally published on Tuesday, 12 March 2019 at 1:44 A.M. SGT; it has since been updated to include Lippo Malls Indonesia Retail Trust. 

These are Singapore companies which may be in focus on Tuesday, 12 March 2019:

Lippo Malls Indonesia Retail Trust

Lippo Malls Indonesia Retail Trust said on Tuesday it plans to acquire a West Jakarta retail mall, Lippo Mall Puri, for 3.70 trillion Indonesian rupiah, or around S$354.7 million.

The mall will be acquired from PT Mandiri Cipta Gemilang, which is a wholly owned subsidiary of PT Lippo Karawaci, the sponsor of LMIR Trust, it said in a filing to SGX before the market open on Tuesday.

Read more: LMIR Trust plans to acquire West Jakarta mall for around S$355 million

SATS

Airline food services provider SATS said it held an opening ceremony on Monday for its new S$25 million kitchen facility, which has equipment including an automated rice line capable of producing 4,000 rice portions in an hour.

The new production will offer a selection of meals including baked fragrant chicken rice and beef bourguinon to aviation customers in the initial operational phase, with distribution to non-aviation customers planned at later stages, SATS said in a filing to SGX on Monday.

Carrier Scoot will be the first airline to introduce some of the new meals, the filing said.

Read more about SATS.

Wilmar

Wilmar said on Monday that it plans to acquire the 50 percent it doesn’t already own of FPW Singapore, which owns Goodman Fielder, for US$180 million (S$244.63 million) in cash from Oceanica Developments.

Read more: Wilmar to acquire 50 percent of Goodman Fielder it didn’t already own for US$180 million

Hyflux

Hyflux said on Monday that it will be delaying its planned town hall meeting on Wednesday for holders of its notes, perpetual securities and preference shares.

“Due to the large number of holders of the securities who have indicated that they wish to attend, the company considers it necessary to arrange for a larger venue to conduct this town hall meeting,” Hyflux said in a filing to SGX on Monday.

“The company will announce the date, time and venue of the rescheduled town hall meeting as soon as possible,” it added.

Read more about Hyflux.

Fraser and Neave

Fraser and Neave said on Monday its wholly owned subsidiary Times Publishing plans to acquire a 60 percent stake in Print Lab for S$23.98 million in cash at the deal’s completion and S$500,000 in cash 12 months later.

Read more: Fraser and Neave plans to acquire 60 percent of Print Lab for around S$24 million

Accordia Golf Trust

Accordia Golf Trust had 345,363 players on its golf courses in February, up 12.6 percent on-year, while the utilisation rate was at 66.6 percent, up 3.3 percentage points on-year, it said in a filing to SGX on Monday.

For the April-to-February period, the trust’s 89 golf courses had 5.24 million players, down 0.2 percent on-year, with a utilization rate of 76.7 percent, down 1.2 percentage point on-year, the filing said.

Read more about Accordia Golf Trust.

Chip Eng Seng

Chip Eng Seng said on Monday that its wholly owned subsidiary CES Greenville has incorporated a subsidiary, Greenville Consultancy & Management (Shanghai), in Shanghai, China, to manage and operate early learning centers on the mainland for children aged three to 12.

Greenville Consultancy has registered capital of 500,000 yuan, of which CES Greenville holds 70 percent, with the remaining 30 percent owned by an unrelated third party, it said in a filing to SGX on Monday.

Read more about Chip Eng Seng.

Sunpower Group

Sunpower Group said on Monday it issued 5.05 million shares at an exercise price of S$0.116 each due to the options exercised under the Sunpower Employee Share Option Scheme 2015 (ESOS), bringing the total number of shares in the company to 770.50 million.

“The exercise of the options by these eligible employees testifies and acknowledges their strong confidence in the company’s solid performance and growth strategy in the long term,” Sunpower said in a filing to SGX on Monday.

“Sunpower remains dedicated to executing the Green Investments (GI) strategy, which the Board believes is the value creator and growth driver of the company,” it added.

Read more about Sunpower.

Mermaid Maritime

Mermaid Maritime said on Monday its associate Asia Offshore Drilling obtained a three-year contract extension through June 2022 for the jack-up drilling rig AOD I, which is serving a “reputable client” in the Middle East.

The current contract had been scheduled to expire by the end of June 2019, and the extension adds around US$80 million in contract backlog to Asia Offshore Drilling, Mermaid Maritime said in a filing to SGX after the market close on Monday.

“This unit has been working for the same reputable client since 2013 and Mermaid is pleased that AOD continue its long-term relationship with this reputable client,” the filing said.

Asia Offshore Drilling is 33.76 percent-owned by Mermaid Maritime, with the remainder held by an affiliate of Seadrill, it said.

Read more about Mermaid Maritime.

MeGroup

MeGroup said on Monday it started to produce and supply noise, vibration and harshness (NVH) components in January for the heating, ventilation and air-conditioning (HVAC) industry as an approved supplier of Johnson Controls Hitachi.

Read more: MeGroup starts producing components for Johnson Controls Hitachi

Reclaims Global

Shares of Reclaims Global tumbled on their debut, ending at S$0.148 on Monday, 35.65 percent below the IPO price of S$0.23. That was after the environmentally friendly construction service provider’s offering of 20 million invitation shares were fully subscribed.

Andrew Chew, CEO and executive director of Reclaims Global, said in a statement on Monday that the offering would provide the company access to funds to expand its operations and its recycled product range.

Mohamed Nasser Ismail, head of equity capital markets at SGX, said the exchange looked forward to supporting Reclaims Global’s fund-raising efforts.

“More companies are striving to achieve environmental sustainability, driven by environmental concerns of their end customers,” Ismail said. “Total construction demand in Singapore is also expected to remain strong, backed by sustained public sector construction demand for infrastructural projects.”

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