UPDATE: Singapore stocks to watch Thursday: Genting Singapore, SingPost, SATS, Pine Capital

Singapore’s port with the monorail to Sentosa island.Singapore’s port with the monorail to Sentosa island.

This item was originally published on Thursday, 4 April 2019 at 1:04 A.M. SGT; it has since been updated to include iFast.

These are Singapore companies which may be in focus on Thursday, 4 April 2019:

Genting Singapore

Genting Singapore said on Wednesday it has committed to investing around S$4.5 billion to revamp and expand its Resorts World at Sentosa integrated resort on Singapore’s Sentosa Island, including growing the Universal Studios Singapore park.

Read more: Genting Singapore to invest S$4.5 billion to revamp Sentosa integrated resort

Singapore Post

Singapore Post said on Wednesday that after a strategic review, it planned to sell its U.S. e-commerce businesses Jagged Peak and TradeGlobal.

Read more: Singapore Post to sell US e-commerce businesses

SATS

SATS said on Wednesday it has completed the acquisition of the remainder of SATS Yihai Kerry Kunshan Food, or Kunshan FoodCo, making it now ultimately owned by the company via its wholly owned subsidiary SATS China.

Kunshan FoodCo has now been renamed as SATS (Kunshan) Food Co., SATS said.

In November, SATS said it would acquire 40 percent of Kunshan FoodCo from Wilmar International’s indirect wholly owned subsidiary, Yihai Kerry Investments (YKI) for 80 million yuan (currently S$16.13 million or US$11.92 million) and would acquire the remaining 60 percent from another wholly owned SATS subsidiary, SATS Food Services (SFS), for 120 million yuan.

Read more: SATS to acquire Kunshan FoodCo stake from Wilmar and sell Langfang stake to Wilmar

Fraser and Neave

Fraser and Neave’s wholly owned subsidiary Times Publishing said on Wednesday has completed the acquisition of 60 percent of marketing and print services provider Print Lab for S$24.48 million.

Read more: Times Publishing completes acquisition of 60 percent of Print Lab

iFast

Online brokerage iFast’s Malaysia subsidiary has become the first in Malaysia to offer investment grade bonds to retail investors, with minimum investments as low as 1,000 ringgit (S$332 or US$245).

Read more: iFast Capital Malaysia to sell bonds to retail investors with 1,000 ringgit minimum

Yanlord Land

Yanlord Land said on Wednesday its wholly owned subsidiary Nanjing Renbei Property Development acquired an additional 14 percent stake in Nanjing Yusheng Real Estate via a capital increase for 10.6 million yuan (S$2.14 million or US$1.58 million).

After the acquisition, Nanjing Renbei’s interest in Nanjing Yusheng, which is based in Nanjing, China, increased to 26 percent from 12 percent, Yanlord said in a filing to SGX after the market close on Wednesday.

Nanjing Yusheng is mainly involved in property development and related activities, the filing said.

Sunpower Group

Sunpower Group said on Wednesday it obtained a 34.5 million yuan (S$6.95 million or US$5.14 million) manufacturing and services (M&S) contract from East China Engineering Science and Technology, or ECEC.

Read more: Sunpower obtains nearly 35 million yuan contract from East China Engineering

KSH Holdings, Chip Eng Seng and Lian Beng

KSH Holdings, Chip Eng Seng and Lian Beng said in separate filings to SGX on Wednesday that they dissolved LGB-NB, a joint venture company set up in 2015, was voluntarily unwound after the partners decided not to proceed with a project in Vietnam.

KSH’s wholly owned subsidiary KSH Vietnam Investment had held 15 percent of LGB-NB, Chip Eng Seng’s wholly owned subsidiary CESV had held 20 percent, and Lian Beng’s wholly owned subsidiary Goldprime Development had held 15 percent, the filing said.

Read more about KSH Holdings, Chip Eng Seng and Lian Beng.

Pine Capital

Pine Capital said late on Wednesday that it subscribed for new shares in its 51 percent-owned subsidiary Advance Capital Partners Asset Management, or ACPAM, at the fund manager’s “urgent request” to meet regulatory requirements.

Read more: Pine Capital says it bought ACPAM shares in ‘urgent capital call’

Jiutian Chemical

Jiutian Chemical said on Wednesday that its board was of the opinion the company could continue as a going concern, in comments following its independent auditor expressing “material concern” over the issue.

Read more: Jiutian Chemical: Board believes group can continue as going concern

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