UPDATE: Singapore stocks to watch Monday: Swiber, SIA Engineering, SIA, Hyflux, CapitaLand

Top of the CapitaLand building in Singapore’s central business district (CBD); taken September 2018.Top of the CapitaLand building in Singapore’s central business district (CBD); taken September 2018.

This article was originally published on Saturday, 30 March 2019; it has since been updated to include Ezion and Hi-P.

These are Singapore companies which may be in focus on Monday, 1 April 2019:

Ezion

Offshore oil and gas services provider Yinson is in advanced talks to take over US$916 million of debts from troubled Singapore liftboat charterer Ezion’s lenders, the Singapore company said late on Sunday.

The debt will be converted into equity, giving the Malaysia-listed company an 85.9 percent stake in Ezion, it said.

Read more: Yinson plans takeover of Ezion in proposed US$916 million debt transfer

Swiber

Efforts to restructure troubled marine engineering group Swiber Holdings got a leg up after containership operator Seaspan said it would move ahead with an up to US$200 million investment in the Singapore company.

Read more: Seaspan to invest up to US$200 million in Swiber

SIA Engineering and Singapore Airlines

SIA Engineering said on Friday it entered a deal with NokScoot Airlines to form a line maintenance joint venture in Thailand.

NokScoot will hold 51 percent of the joint venture, with SIAEC taking the remainder, the companies said in a filing to SGX on Friday.

Read more: SIA Engineering enters line maintenance JV with NokScoot

CapitaLand and CRCT

CapitaLand and CapitaLand Retail China Trust (CRCT) said on Friday they entered a deal to divest CapitaMall Wuhu, which has been shuttered since the third quarter of last year, to an unrelated third party.

Read more: CapitaLand and CRCT to divest CapitaMall Wuhu

ST Engineering

ST Engineering said on Friday that it has obtained U.S. anti-trust approvals for its acquisition of MRA Systems from General Electric, but the deal is still pending “usual clearance” from the Committee on Foreign Investment in the United States.

The company expects the planned acquisition to close in the second quarter of this year, it said in a filing to SGX on Friday.

Read more about ST Engineering.

Hyflux

Troubled water infrastructure player Hyflux disputed in strong terms on Saturday allegations from its white knight investor SM Investments that material information was withheld.

Read more: Hyflux rebuts SM Investments statements over whether material information was withheld

Hyflux

Troubled water infrastructure company Hyflux said on Friday that Singapore’s national water agency PUB has given its Tuaspring desalination plant an extension to fix its service default, potentially easing concerns the issues would scuttle its restructuring deal.

Read more: Hyflux: PUB to extend Tuaspring runway for fixing service default

Frasers Logistics Trust

Frasers Logistics & Industrial Trust said on Friday it would sell a Victoria, Australia, property to Enbourne for A$17.25 million (S$16.57 million or US$12.22 million).

Read more: Frasers Logistics Trust to divest Australia property for around A$17 million

PSA International

Global port group PSA International said on Friday that Fock Siew Wah would step down as group chairman, effective Monday, and become special adviser to the company until he retires at end-July.

Peter Voser, currently deputy chairman, will become group chairman, PSA said in a filing to SGX on Friday.

Read more about PSA International.

Hi-P International

Hi-P International said on Sunday that Mark Su Lii-Yun, its deputy CEO, resigned with effect on Monday to pursue other interests.

Read more about Hi-P.

Hyflux

Troubled water infrastructure company Hyflux reported on Friday a loss attributable to shareholders of S$1.12 billion for the January-to-September period. That compared with a S$53.01 million loss in the year-earlier nine-month period, it said in a filing to SGX on Friday.

Read more: Hyflux reports more than S$1 billion loss for January-to-September period

OUE Lippo Healthcare

OUE Lippo Healthcare said on Friday its wholly owned subsidiary OUELH Medical Assets, or OMA, sold its asset to Innovation Lab Technology, or ILT, for S$1.59 million.

The assets sold included systems for management of out-patient services, the related data and documentation, certain content and databases, including user-experience design, and some related hardware and equipment, it said in a filing to SGX on Friday.

The deal is part of the company’s efforts to rationalize, the filing said, adding “the board believes that it is not cost efficient to develop proprietary information technology system in-house.”

Software development company ILT is a wholly owned by Hong Kong-listed Lippo China Resources (LCR), it said, adding that made the deal an interested person transaction as Stephen Riady is an executive director of LCR and a controlling shareholder of LCR’s holding company Lippo Ltd.

Read more about OUE Lippo Healthcare.

Boustead Projects

Boustead Projects said on Friday it entered a deal to acquire 25 percent of DSCO Group from Chang Kwok Kin, Chan Jacqueline, Liu Wang Lai and Kuan Mun Fai (Guan Minhui) for around S$4.21 million.

Read more: Boustead Projects plans to acquire 25 percent of DSCO Group

TEE International

TEE International said on Friday it obtained new engineering contracts worth S$22 million, including the fit-out works for a data center and addition and alteration works to industrial buildings for a repeat client.

That brought its orderbook to S$506 million, the company said in a filing to SGX on Friday.

Read more about TEE International.

TEE International

TEE International said on Friday it has established an indirect subsidiary, TEE GA, for development, management and operations of an integrated hazardous waste management and treatment hub.

Arrow Waste Management, which is an indirect wholly owned subsidiary of TEE International, subscribed for 80.1 percent of TEE GA, while S. Awtar Singh and Gajendra Singh subscribed for 12.736 percent and 7.164 percent respectively, it said in a filing to SGX on Friday.

TEE GA has issued and paid-up capital of S$100,000, comprising 100,000 shares at S$1 each, the filing said.

Read more about TEE International.

SingHaiyi Group

SingHaiyi Group said on Friday Gregory Sim Chee Wah will step down as chief financial officer, effective Monday, but will remain deputy CEO, with a focus on the creating and implementing strategies to grow the business and improve investor relations.

Kok Jia Cheun will be promoted to chief financial officer from his current role as finance director, effective Monday, the property developer said in a filing to SGX on Friday.

Read more about SingHaiyi Group.

 

 

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