UPDATE: Singapore stocks to watch Tuesday: Mapletree Industrial, ComfortDelGro, Keppel REIT, CapitaLand

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This article was originally published on Monday, 22 April 2019 at 22:42 SGT; it has since been updated to add Frasers Commercial Trust, Hyflux, Keppel REIT, CapitaLand, OUE, Frasers Property and Q&M Dental.

These are Singapore companies which may be in focus on Tuesday, 23 April 2019:

Mapletree Industrial Trust

Mapletree Industrial Trust reported Monday its fiscal fourth quarter net property income rose 11.7 percent on-year to S$75.85 million on new contributions from acquisitions.

Read more: Mapletree Industrial Trust reports fiscal 4Q net property income rose nearly 12 percent

ComfortDelGro

ComfortDelGro tapped Nicholas Yap to take on the role of country head and CEO for its Australian operations, effective 1 July, as part of a reorganization, the transportation company said Monday.

Read more: ComfortDelGro taps Nicholas Yap as country head for Australia

ST Engineering

ST Engineering’s aerospace and electronics sectors obtained new contracts valued at around S$2.1 billion for the first quarter, the technology and defense company said in a filing to SGX Monday.

Read more: ST Engineering obtains contracts worth around S$2 billion in 1Q19

Keppel REIT

Keppel REIT has entered a deal to acquire an around 99.38 percent stake in an office building in Seoul’s central business district for 252.6 million South Korean won, or around S$301.4 million, from a fund managed by PGIM Real Estate, the REIT said Tuesday.

Read more: Keppel REIT to acquire 99.38 percent stake in Seoul office tower for S$301 million

CapitaLand

CapitaLand divested its StorHub self-storage business, which has a portfolio of 12 properties, for S$185 million to an unrelated third party, the property company said in a filing to SGX before the market open Tuesday.

Read more: CapitaLand divests StorHub self-storage properties for around S$185 million

Frasers Commercial Trust

Frasers Commercial Trust reported Tuesday its fiscal second quarter net property income dropped 10.5 percent on-year to S$20.09 million on lower occupancy at Alexandra Technopark and a weaker Australian dollar.

Read more: Frasers Commercial Trust posts fiscal 2Q net property income dropped, missing Daiwa forecast

Hyflux

Arab Banking Corp. provided notice that the project company for Hyflux’s Magtaa desalination project in Algeria has made a claim of US$8.53 million under a contract-performance guarantee between the bank, Hydrochem and Hyflux, Hyflux said Tuesday.

Read more: Hyflux: TMM makes claim for payment from Magtaa project

Frasers Property

Frasers Property and Sekisui House said Tuesday they were putting the final three retail assets in the mixed-use Sydney, Australia, development Central Park up for sale.

The remaining three retail assets are Central Park Mall, the eight retail outlets at DUO Retail and the six retail outlets at Park Lane Retail, the companies said in a filing to SGX Tuesday.

The deal is the final part of the divestment strategy of the partnership, the filing said.

Read more about Frasers Property.

LMIR Trust

Lippo Malls Indonesia Retail Trust, or LMIR Trust, reported Monday its first quarter net property income dropped 7.8 percent on-year to S$40.51 million amid lower rental income and the continued weakening of the Indonesian rupiah.

Read more: LMIR Trust reports 1Q19 net property income dropped nearly 8 percent

OUE

OUE Ltd.’s wholly owned subsidiary has sold its 792,000 shares in Nuvest Capital, or a 33 percent stake, for US$1 million (S$1.36 million) in cash to Aje Kumar Saigal, who holds the remaining 67 percent stake, OUE said Monday.

As of end-2018, the net asset value of the 33 percent stake was around S$1.37 million, OUE said in a filing to SGX after the market close Monday.

Read more about OUE.

Q&M Dental

Q&M Dental said Tuesday two different and unrelated parties have approached the dental clinic operator about a potential, partial acquisition of its stake in Aidite (Qinhuangdao) Technology.

“The discussions with the aforesaid parties are ongoing and no definitive terms have been agreed upon between the parties,” Q&M said in a fling to SGX before the market open Tuesday.

Read more about Q&M Dental.

Thakral

Prime Trade Enterprises, an investment holding company controlled by the Thakral family, has received valid acceptances of its partial offer for Thakral’s shares totaling 53.04 million shares, or 40.5 percent of the issued shares, said in an SGX filing on Monday.

Prime Trade Enterprises can only acquire 26.51 million shares under the offer, the filing said.

Read more: Thakral family company makes bid for greater stake in Thakral Corp.

Boustead Singapore

Boustead Singapore said Monday its 78.75 percent owned subsidiary, Controls & Electrics, incorporated a wholly owned subsidiary in the U.A.E., called Controls and Electrics System Manufacturing, or CESML.

CESML will mainly be involved in engineering, design and manufacturing of wellhead control panels, process control and shutdown systems and related hydraulic, pneumatic and electronic systems, Boustead Singapore said in a filing to SGX after the market close Monday.

The new subsidiary will have paid-up capital of 500,000 U.A.E. dirham, or around S$184,695, the filing said.

Read more about Boustead Singapore.

 

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