UPDATE: Singapore stocks to watch Monday: Sembcorp, Far East Orchard, SIA, M1, OUE

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

This article was originally published on Sunday, 17 March 2019 at 17:58 SGT; it has since been updated to include Synagie, Challenger Technologies and YuuZoo Networks.

These are Singapore companies which may be in focus on Monday, 18 March 2019:

Sembcorp Industries

Sembcorp Industries said on Saturday it officially opened its US$310 million Sembcorp Myingyan Independent Power Plant (IPP) in Mandalay Myanmar, in a project which includes both thermal and renewable power generation.

Read more: Sembcorp Industries opens US$310 million power plant in Myanmar

Far East Orchard

Far East Orchard said on Saturday it acquired a portfolio of three student accommodation properties in Liverpool and Bristol, in the U.K., for £55.0 million, or around S$98.7 million.

Read more: Far East Orchard acquires three UK student-housing properties

Singapore Airlines

Singapore Airlines said on Friday its group passenger load factor (PLF) for February was stable at 81.2 percent, up 0.3 percentage point on-year, as an increase in PLF at the flagship brand was offset by declines at Scoot.

Read more: Singapore Airlines passenger load factor stable for February

M1

Konnectivity, which has taken control of M1, said on Friday that M1 options will lapse once it completes the compulsory acquisition of the rest of the shares of the Singapore telco it doesn’t already own.

Read more: Konnectivity: M1 options will lapse once share acquisition is complete

OUE

OUE said on Friday its indirect wholly owned subsidiary Oddish Ventures acquired 49.7 percent of Superfood from Silver Creek Capital and Goldstream Capital for S$7.53 million.

Superfood, which has now become an associated company of OUE, is mainly involved in setting up and operating cafes and restaurants in Singapore and Hong Kong and in related services, OUE said in a filing to SGX on Friday.

The remainder of Superfood is indirectly held by Lippo China Resources, the filing said.

Read more about OUE.

Frasers Centrepoint Trust

Schroders PLC became a substantial shareholder of Frasers Centrepoint Trust after the acquisition of 836,300 shares for S$1.89 million as an investment manager on behalf of clients, it said in a filing to SGX after the market close on Friday.

That brought Schroders deemed interest to 5.052 percent, above the 5 percent threshold for being a substantial shareholder, from 4.962 percent previously, the filing said.

Read more about Frasers Centrepoint Trust.

CapitaLand Mall Trust

CapitaLand Mall Trust said on Friday that Chew Sze Yung has been appointed as the head of finance at the trust’s manager, effective 1 April, to be responsible for financial management as well as sourcing funds and overseeing treasury, accounting and capital management.

She is currently the trust manager’s deputy head of finance, the trust manager said in a filing to SGX on Friday.

Tan Lei Keng, the current head of finance at the trust, will assume another role within the CapitaLand group, it said in a separate filing to SGX.

Read more about CapitaLand Mall Trust.

Singapore Post

Singapore Post, or SingPost, said on Friday it completed the sale of shares in an indirect associated company, Indo Trans Logistics Corp., for a revised final cash price of 672.96 billion Vietnamese dong (S$39.27 million or US$290.8 million). The revised price was meant to take into account the dong’s recent exchange rate fluctuations against the Singapore dollar, SingPost said in a filing to SGX on Friday.

Read more about Singapore Post.

Yanlord Land

Yanlord Land said on Friday that it established four new companies in Shanghai for the purpose of property management and other related activities: Shanghai Renchong Real Estate, Shanghai Renlan Real Estate, Shanghai Renpu Real Estate and Shanghai Renzhu Real Estate.

Each new company will have registered capital of 5 million yuan, or S$1.01 million or US$744,775, Yanlord said in a filing to SGX on Friday.

Read more about Yanlord Land.

Synagie

Technology company Synagie said on Monday it was launching mobile insura nce app Kiasu.me to offer “lifestyle” insurance policies, with the initial product, Device Shield, to provide coverage for smartphone screens.

Read more: Synagie launches insurance app Kiasu.me

Chip Eng Seng

Chip Eng Seng said on Friday that its wholly owned subsidiary CES Treasury issued S$100 million 6 percent notes due 2022, or the series 004 notes, in denominations of S$250,000 under its S$750 million multicurrency debt issuance program.

The net proceeds will be used for general corporate purposes, including refinancing the existing borrowings, financing investments and for general working capital, Chip Eng Seng said.

DBS Bank acted as the sole global coordinator, sole bookrunner and lead manager, while Haitong International Securities (Singapore) acted as an additional lead manager, it said in a filing to SGX on Friday.

Read more about Chip Eng Seng.

Challenger Technologies

Consumer electronics retailer Challenger Technologies requested a trading halt on Monday pending the release of an announcement.

Courts Asia

Courts Asia requested a suspension of trading in its shares on Friday, as Nojima Asia Pacific’s takeover bid for the company has closed, leaving the free float of the electronics retailer at less than the required minimum of 10 percent.

At the offer’s close, Nojima Asia Pacific owned, controlled, or had agreed to acquire 95.83 percent of Courts Asia’s shares, and it planned to exercise its right to compulsorily acquire the remaining shares, it said in a filing to SGX on Friday.

In a separate filing, Courts Asia said on Friday that Jack Hennessy has ceased to be chairman and non-independent, non-executive director. Hennessy was a nominee of Singapore Retail Group, which has ceased to be a substantial shareholder of the electronics retailer, it said.

Read more about Courts Asia.

Sabana Shari’ah Compliant Industrial REIT

Sabana Shari’ah Compliant Industrial REIT said on Friday that tenant Adviva Distribution provided a notice of special event to terminate its lease on 10 Changi South Street 2 in Singapore in December.

The special event is that Adviva Distribution had a change of shareholder and is now wholly owned by Meztoire Pte. Ltd., it said in a filing to SGX on Friday.

The REIT manager said it will actively engage in negotiations with prospective replacement tenants for the property.

Read more about Sabana REIT.

Neo Group

Event caterer Neo Group said on Friday it broke ground on a new headquarters and catering hub at 30B Quality Road in Singapore to consolidate its operations and serve as a research and development center and as central kitchens for its food business segments and as warehouse facilities.

The new facility, which is expected to be completed in the fourth quarter of 2020, is targeting full automation, it said in a filing to SGX on Friday.

Yuuzoo Networks

YuuZoo Networks said late on Sunday that CEO and Executive Director Mohandas, who goes by only one name, tendered his resignation on 5 March, to take effect on 18 March, as the company is unable to continue Singapore operations due to a continuing suspension of trading in its shares.

Mohandas will remain a non-executive member of the board of directors, the filing to SGX late on Sunday said. He was appointed to the position in April 2018.

The company had requested a mandatory suspension of trade in mid-March 2018, and in April of that year, the Commercial Affairs Department (CAD) of the Singapore police force ordered YuuZoo to turn over documents related to its franchises for an investigation into a possible offence under the city-state’s Securities and Futures Act.

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