UPDATE: Singapore stocks to watch Wednesday: Keppel REIT, Singtel, DeClout, Addvalue Tech

SingTel outlet in SingaporeSingTel outlet in Singapore

This article was originally published on Tuesday, 2 April 2019 at 21:14 SGT; it has since been updated to include PACC Offshore and MeGroup and to update Keppel REIT.

These are Singapore companies which may be in focus on Wednesday, 3 April 2019:

Keppel REIT

Keppel REIT said late on Tuesday it priced its S$200 million five-year convertible bond offering at 1.90 percent, the top end of the expected interest rate range of 1.70 percent to 1.90 percent.

Read more: Keppel REIT prices S$200 million five-year convertible bond issue at 1.90 percent


Singtel said on Tuesday that its wholly owned subsidiary Singtel Digital Life (STDL) increased its share capital to S$1.18 billion from S$1.06 billion by issuing 125.09 million shares to Singtel for S$125.09 million.

In turn, STDL subscribed for 135.97 million shares of its wholly owned subsidiary Amobee Group (AGPL) for S$125.09 million, which increased AGPL’s share capital to S$1.10 billion from S$975.04 million, Singtel said in a filing to SGX on Tuesday.

AGPL then subscribed for 4 million ordinary shares of its wholly owned subsidiary Amobee Asia (AAPL) for S$4 million, increasing AAPL’s capital to S$6 million from S$2 million, the filing said.

Read more about Singtel.


DeClout said on Tuesday that it has completed the disposal of its 100 percent interest in Corous360 in exchange for 12.5 percent of Grand Centrex.

Read more: DeClout sells Corous360 subsidiary for stake in Grand Centrex

Addvalue Technologies

Addvalue Technologies said Tuesday it obtained approval for its iFleetONE vessel monitoring system (VMS) from the U.S. for another fishery region.

Read more: Addvalue Tech: iFleetONE obtains approval for use in another US fishery region


Malaysia-based MeGroup said on Wednesday it would buy an additional 25 percent of subsidiary MJN Motors, which owns and operates its Honda dealerships, for a performance-based consideration.

Read more: MeGroup to buy additional 25 percent of Honda dealership operator MJN Motors

CNMC Goldmine

CNMC Goldmine said on Tuesday that an independent review showed its unmined gold resources were up 26 percent on-year as of end-December, hitting a record even after a strong production year.

Read more: CNMC Goldmine: Unmined gold resources at record high

PACC Offshore Services

PACC Offshore Services, or POSH, said on Wednesday it was giving notice that it had posted pre-tax losses for the past three financial years, and a six-month average daily market capitalization of S$360.66 million as of Monday.

SGX puts issuers on the watch list if they post three consecutive years of losses and an average daily market capitalization of less than S$40 million over the previous six months, the company said in the filing to SGX.

Read more about PACC Offshore Services.

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