UPDATE: Singapore stocks to watch Thursday: Frasers Property, Frasers Centrepoint, Ascendas REIT, ThaiBev

Singapore’s central business district (CBD), including Lau Pa Sat hawker centerSingapore’s central business district (CBD), including Lau Pa Sat hawker center

This article was originally published on Wednesday, 20 March 2019 at 23:17 SGT; it has since been updated to add Frasers Property and Frasers Centrepoint.

These are Singapore companies which may be in focus on Thursday, 21 March 2019:

Frasers Property and Frasers Centrepoint Trust

Frasers Centrepoint Trust and Frasers Property announced separately on Thursday that they entered deals to increase their stakes in PGIM Real Estate AsiaRetail Fund, the owner of the Tiong Bahru Plaza mall, for a combined price of around S$635 million.

That will bring their combined holdings to around 66.62 percent.

PGIM Real Estate AsiaRetail Fund, an open-end private investment vehicle, is the largest unlisted retail mall fund in Singapore, and it owns and manages six malls near MRT stations, as well as a Singapore office property and four malls in Malaysia.

Read more: Frasers Centrepoint, Frasers Property to increase stakes in Tiong Bahru Plaza owner

Frasers Property

Frasers Property Australia said on Wednesday it has entered a deal to sell its entire 50 percent stake in a Melbourne, Australia, office tower to co-owner GPT Wholesale Office Fund (GWOF) for A$326.2 million (S$312.57 million or S$213.37 million).

Read more: Frasers Property to sell 50 percent stake in Melbourne office tower for around A$326 million

Ascendas REIT

Ascendas REIT has issued HK$1.45 billion (S$249.43 million or US$184.71 million) 3.57 percent notes due 2029 under its S$5 billion multicurrency medium term note program, the REIT manager said in a filing to SGX on Wednesday after the market close.

Read more: Ascendas REIT issues HK$1.45 billion 3.57 percent notes due 2029

Thai Beverage

Thai Beverage said on Wednesday it incorporated a new subsidiary, ThaiBev Marketing, which will be involved in the distribution of spirits, advertising and promotion support, technology research and development services.

ThaiBev holds 99.99998 percent of ThaiBev Marketing, while two shareholders hold one share each, the beer maker said in a filing to SGX after the market close on Wednesday.

ThaiBev Marketing has a registered capital of 100 million Thai baht (S$4.26 million or US$315.16 million), consisting of 10 million ordinary shares at 10 baht each, the filing said.

Read more about Thai Beverage.

Frasers Property

Frasers Property said on Wednesday it secured S$785 million five-year green club loan, which will be used to refinance existing loans for the development of its Northpoint City South Wing mall.

Read more: Frasers Property obtains S$785 million green club loan for Northpoint City South Wing

Yongnam Holdings

Yongnam Holdings said in a filing to SGX on Wednesday that CEO and Managing Director Seow Soon Yong, or SY, was no longer deemed interested in 31 million shares which had been charged in favor of Lioncap Global Management as security for a loan.

Lioncap Global Management has disposed of the shares and is no longer in a position to redeliver the shares to SY, who has purchased an equivalent 31 million shares to maintain his holding, the filing said.

SY has begun legal proceedings to claim the proceeds of the charged shares, it said.

Read more: Yongnam CEO buys shares in off-market deal after soured loan agreement

Cache Logistics Trust

Cache Logistics Trust said on Wednesday it planned to acquire a single-story logistics warehouse and office facility in Altona, Victoria, Australia, near Melbourne, from AGIT Investment for A$41.2 million (S$39.47 million or US$29.22 million), with an initial property yield of 6.8 percent.

The proposed acquisition will be funded with a combination of the net sale proceeds of around S$16 million from divesting the Jinshan Chemical Warehouse and debt, it said in a filing to SGX after the market close on Wednesday.

The Altona property is currently 76 percent occupied with a singe anchor tenant under a three-year lease with an option to renew, while AGIT Investment will provide a two-year rental guarantee for the 24 percent vacant area, the filing said.

Read more about Cache Logistics Trust.

Golden Agri-Resources

Golden Agri-Resources said on Wednesday it acquired 4,900 shares, or a 49 percent stake, of Indonesia-based PT Wahana Agung Persada (WAP) for 1 million rupiah each for a total consideration of 4.9 billion rupiah, or around US$343,000 (S$466,476).

WAP is considered an associated company of Golden Agri, and it is mainly involved in consultancy services and trading, it said in a filing to SGX after the market close on Wednesday.

Read more about Golden Agri-Resources.

Challenger Technologies

Digileap Capital has proposed to delist Challenger Technologies from SGX and make an exit offer of S$0.56 a share for all of the shares of the electronics retailer, it said in a filing to SGX after the market close on Wednesday.

Read more: Challenger Technologies receives exit offer and proposal to delist

Spackman Entertainment Group

Spackman Entertainment Group said on Wednesday its upcoming film “Crazy Romance” has completed filming and is in the post-production stage, with screening in South Korean theaters scheduled for this year.

The movie was produced by Spackman’s wholly owned subsidiary Zip Cinema and will be presented and distributed by Next World Entertainment, it said in a filing to SGX after the market close on Wednesday.

Read more about Spackman Entertainment Group.

Dukang Distillers Holdings

Dukang Distillers Holdings said on Wednesday Keping Guo because a substantial shareholder by acquiring 7.88 million shares for a total consideration of S$1.34 million.

That brought Keping Guo’s direct interest in Dukang Distillers to 10.82 percent, up from 0.95 percent previously, it said in a filing to SGX after the market close on Wednesday.

After the share deal in an off-market transaction, FIL Ltd., which was deemed interested in the shares because they were held by funds or accounts managed by its fund-management subsidiaries, saw its interest fall to zero, it said in a separate filing to SGX on Wednesday.

Read more about Dukang Distillers.


Get the Shenton Wire morning briefing in your inbox