UPDATE: Singapore stocks to watch Thursday: SGX, BreadTalk, Keppel, Keppel REIT, Suntec REIT, Hyflux

SGX building on Shenton Way in SingaporeSGX building on Shenton Way in Singapore

This article was originally published on Thursday, 18 April 2019 at 12:31 A.M. SGT; it has since been updated to include ST Engineering.

These are Singapore companies which may be in focus on Thursday, 18 April 2019:

Singapore Exchange

Singapore Exchange said on Wednesday that it added Haitong International Securities (Singapore), W Capital Markets and Evolve Capital Asia to its pool of accredited issue managers and Catalist sponsors.

As an accredited issue manager, Haitong International Securities (Singapore) can advise companies seeking a listing on the SGX Mainboard, SGX said in a statement on Wednesday.

W Capital Markets and Evolve Capital Asia can advise companies on a Catalist listing and supervise Catalist-listed companies post-listing, the statement said.

Read more about Singapore Exchange.

Keppel Corp.

Keppel said on Wednesday it obtained contracts with a combined value of S$160 million from repeat customers for upgrading a drilling semisubmersible and for integration work on a floating production storage and offloading (FPSO) vessel.

Read more: Keppel obtains around S$160 million in integration and upgrading contracts

United Industrial Corp.

United Industrial Corp., or UIC, said on Wednesday it has completed the acquisitions of 10 percent of Marina Centre Holdings (MCH) from OUE Ltd., and another 10.27 percent and 4.0 percent of MCH from Finnegan Investments and Mackmoor Pte., respectively.

The acquisition of a 25 percent stake in Aquamarina Hotel by MCH was also completed, UIC said in a filing to SGX after the market close on Wednesday.

Read more: UIC to acquire Marina Centre Holdings stake for around S$485 million

ST Engineering

ST Engineering said on Thursday its U.S. subsidiary completed the acquisition of MRA Systems for a net consideration of US$506 million, or around S$683 million.

The acquisition is expected to be earnings accretive, ST Engineering said in a filing to SGX before the market open on Thursday.

Read more about ST Engineering.

Hyflux

Singapore’s water regulator PUB said on Wednesday it issued a notice to Hyflux’s Tuaspring Desalination Plant that it would terminate its water purchase agreement (WPA) and take over the plant.

Read more: UPDATE: Singapore PUB to takeover Hyflux’s Tuaspring plant in 30 days

Keppel REIT

Keppel REIT reported on Wednesday that its first quarter net property income edged up 0.3 percent on-year to S$31.31 million, mainly on higher one-off income, partly offset by lower contributions from Ocean Financial Centre after the divestment of a 20 percent stake in December and from Bugis Junction Towers.

Read more: Keppel REIT 1Q19 net property income nearly flat amid weaker Australian dollar

Suntec REIT and SingHaiyi Group

Financial institution UBS has fully pre-leased the office component of the 9 Penang Road project, Suntec REIT and its joint venture partners, Haiyi Holdings and SingHaiyi Group, said in a filing to SGX mid-day Wednesday.

Read more: Suntec REIT says 9 Penang Road office pre-leased to UBS

BreadTalk

BreadTalk said on Wednesday that it has established a S$500 million multicurrency medium term note program.

The net proceeds from the issue of notes under the program may be used for general corporate purposes, including refinancing existing borrowings, and financing capital expenditure and general working capital, BreadTalk said in a filing to SGX after the market close on Wednesday.

OCBC and Standard Chartered Bank will act as arrangers and OCBC, Standard Chartered Bank (Singapore) and Standard Chartered Bank will act as dealers for the program, the filing said.

Read more about BreadTalk.

Sunpower Group

Sunpower Group said on Wednesday it has received complaints believed to be filed by America 2030 Capital and America2030 LLC against the company, certain directors and managers and other companies and individuals for alleged defamation.

Read more: UPDATE: Sunpower says it received complaint from America 2030 for alleged defamation

China Everbright Water

China Everbright Water said on Wednesday that it has received approval-in-principle from the listing committee of the Stock Exchange of Hong Kong for a dual listing in Hong Kong.

However, the company highlighted that the potential Hong Kong listing was still subject to conditions, including final approval, and there was no assurance that would be granted.

In addition, China Everbright Water said in the filing to SGX on Wednesday that the public offering for the Hong Kong listing woudl be subject to then-prevailing market conditions.

“There is no certainty that the proposed SEHK listing and the global ffering will eventually materialize,” the company said.

Read more about China Everbright Water.

Cache Logistics Trust

Cache Logistics Trust said on Wednesday that Singapore tax authorities have said that around S$7.4 million of the S$8.2 million the REIT received in a dispute over the 51 Alps Avenue property qualifies for tax transparency, or will be untaxed, with the remainder subject to tax.

The S$7.4 million is a rental shortfall amount, it said in a filing to SGX after the market close on Wednesday. Around S$2.9 million is expected to be distributed to unitholders with the second quarter distributions, it said.

Read more about Cache Logistics Trust.

Qian Hu

Iconic ornamental fish breeder Qian Hu reported on Wednesday its net profit for the first quarter rose 5.7 percent on-year to S$37,000 despite continued fierce competition in the dragon fish segment.

Read more: Qian Hu posts 1Q19 net profit rise despite dragon fish price war

Soilbuild Business Space REIT

Soilbuild Business Space REIT reported on Wednesday its first quarter net property income rose 7.7 percent on-year to S$18.29 million, mainly on the conversion of Solaris into a multi-tenanted property and contributions from two Australia properties.

Read more: Soilbuild REIT posts 1Q19 net property income rose nearly 8 percent on Australia properties

DeClout

DeClout said on Wednesday that its shares will be delisted from SGX with effect on 22 April, with the compulsory acquisition of the shares expected to be completed on 18 April.

Read more about DeClout.

PEC

Oil and gas engineering company PEC said on Wednesday it obtained S$103 million worth of new contracts in Asia with existing clients.

Two of the contracts are for engineering, procurement and construction for two storage facilities in Singapore and Malaysia, while the third contract is for mechanical and civil works for an upgrading project in East Malaysia, PEC said in a filing to SGX after the market close on Wednesday.

“Investments in refining and petrochemical projects are expected to come onstream in Asia and the Middle East in the next five years. While we are cautiously optimistic of the near-term outlook, we will continue to exercise prudence in our bidding, focusing on key Asia and Middle East markets and on enhancing our capabilities,” Robert Dompeling, PEC’s CEO, said in the statement.

The contracts are expected to contribute positively to earnings for the financial year ending 30 June, the filing said.

Read more about PEC.

Interra Resources

Interra Resources said on Wednesday its 60 percent-owned joint venture entity Goldpetrol has completed development well YNG 3274 in the Yenangyaung oil field in Myanmar as an oil producer.

YNG 3274 has been completed over 12 reservoirs for 10 barrels of oil a day, Interra said in a filing to SGX after the market close on Wednesday.

Read more about Interra Resources.

 

Follow Shenton Wire on Telegram

Get the Shenton Wire morning briefing in your inbox