Singapore stocks to watch Friday: Oxley, Hyflux, SoilBuild REIT, Pine Capital

Singapore CBDSingapore CBD

These are Singapore companies which may be in focus on Friday, 22 March 2019:

Oxley Holdings

Oxley Gem appointed CBRE, Jones Lang LaSalle Property Consultants and JLL Hotels & Hospitality Group (JLL) as its exclusive agents to find and screen a buyer for the Novotel Singapore and Mercure Singapore hotels, it said in an SGX filing on Thursday.

Read more: Oxley appoints exclusive agents to find buyer for Mercure and Novotel hotels after previous bid failed


Troubled water and energy infrastructure player Hyflux said on Thursday that Singapore’s national water agency PUB has informed the company that if it fails to resolve the Tuaspring plant’s defaults by 5 April, the agency may acquire the desalination plant.

Earlier this month, PUB issued Hyflux’s desalination plant, Tuaspring, a default notice and said it would exercise its right to terminate its water purchase agreement (WPA) and take over the plant if contractual obligations aren’t met.

Read more: Hyflux: If Tuaspring fails to fix defaults, PUB may buy the desalination plant

Soilbuild REIT

Soilbuild Business Space REIT has entered a deal to divest a property at 72 Loyang Way in Singapore to an unrelated third party, Kim Hock Enterprise, for S$34.08 million, the REIT manager said in a filing to SGX after the market close on Thursday.

Read more: SoilBuild REIT enters deal to divest Loyang Way property for around S$34 million

Pine Capital Group

Pine Capital Group said on Thursday it was suspending trade in its shares after receiving “numerous allegations” about its sole operating subsidiary, Advance Capital Partners Asset Management (ACPAM), including over potential conflict of interest and possible lapses in internal control.

Read more: Pine Capital suspends trading in shares due to ‘numerous allegations’

TEE International

Tan Soon Hoe ceased to be a substantial shareholder of TEE International, disposing of 2.5 million shares at S$0.12487 each via a market transaction, it said in a filing to SGX after the market close on Thursday.

That brought his direct holding down to 0.964 percent from 1.351 percent previously, the filing said. Tan is still deemed to be interested in the 4.014 percent stake held by Lincoln Capital, which he wholly owns, it said.

Read more about TEE International.

Dyna-Mac Holdings

Dyna-Mac Holdings said on Thursday it obtained several fabrication contracts totaling around S$150 million from long-standing customers.

The contracts’ completion is expected to be spread over two years, with revenue from the orders expected mainly from the third quarter of 2019 through 2020, it said in a filing to SGX after the market close on Thursday.

Read more about Dyna-Mac Holdings.


HRnetGroup said on Thursday it incorporated RecruitFirst (Taiwan), or RFTPL, through its wholly owned subsidiary HRnet One.

RFTPL will have initial share capital of S$700,000 and it will set up a branch in Taiwan to offer flexible staffing and human resource outsourcing, HRnetGroup said in a filing to SGX after the market close on Thursday.

Read more about HRnetGroup.


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