UPDATE: Singapore stocks to watch Tuesday: SingPost, BreadTalk, Hyflux, Koufu, SGX, China Jinjiang

Singapore Post post boxes at the SingPost mCentre March 2018.Singapore Post post boxes.

This article was originally published on Tuesday, 7 May 2019 at 1:05 A.M. SGT; it has since been updated to include Singapore Post and China Everbright Water. 

These are Singapore companies which may be in focus on Tuesday, 7 May 2019:

Singapore Post

Singapore Post reported Tuesday its fiscal fourth quarter swung to a net loss of S$75.11 million, from a year-ago profit of S$31.84 million on impairment charges on its U.S. businesses.

Read more: Singapore Post reports fiscal 4Q swung to net loss on impairment charges

BreadTalk

Iconic Singapore bun maker BreadTalk reported Monday its first quarter net profit rose 11.5 percent on-year to S$1.3 million on the company’s expansion into new markets.

Read more: BreadTalk reports 1Q19 net profit rose nearly 12 percent on expansion into new markets

Hyflux

Hyflux said Monday it received a letter from BNP Paribas declaring US$57.73 million due and payable in relation to claims on performance bonds made by the project company for the Magtaa desalination project in Algeria.

Read more: Hyflux: Received payment demand from BNP Paribas

Singapore Exchange

Singapore Exchange said Monday it tied up with MyInfo, a government digital service, to allow investors to open an individual central depository (CDP) account by submitting applications online, without paper documents.

A CDP account is required to open a brokerage account in Singapore.

“Tapping into MyInfo for CDP account opening offers a better experience for our retail investors and is one more step forward for Singapore’s Smart Nation journey,” Chew Sutat, head of equities and fixed income at SGX, said in the statement.

Read more about SGX.

Koufu

Food court operator Koufu reported Monday its first quarter net profit increased 12.3 percent on-year to S$7.0 million on the addition of new food courts and new food and beverage kiosks.

Read more: Koufu reports 1Q19 net profit rose 12 percent on new food court outlets

China Everbright Water

China Everbright Water said Tuesday it would be issuing 103.97 million shares at an offer price of HK$2.99 (around S$0.52) a share on Tuesda and Wednesday for its dual primary listing in Hong Kong.

Read more about China Everbright Water.

China Jinjiang Environment

China Jinjiang Environment said Monday its wholly owned subsidiary Lin’an Jiasheng Environment made a cash contribution of 378.02 million yuan (around S$76.36 million) to increase the capital of Kunming Xinxingze Environment Resources Industry to 478.02 million yuan.

The capital increase is to finance the ongoing construction of the Kunming Wuhua waste-to-energy project, China Jinjiang Environment said in a filing to SGX.

After the cash contribution, China Jinjiang’s stake in Kunming Xinxingze Environment rose to 98.33 percent from 92.0 percent, the filing said.

Read more about China Jinjiang Environment.

CapitaLand

CapitaLand increased the capital in wholly owned subsidiary Xi’an Kai Zhong Jian Yu Industrial (XKZJY) to 50 million yuan, or around S$10 million, from 100,000 yuan, or around S$20,000, it said in an SGX filing Monday.

XKZJY, a real estate development company based in China, will use the proceeds to fund working capital, the filing said.

Read more about CapitaLand.

Frasers Property

Frasers Property tapped Lim Hua Tiong as CEO for Frasers Property Vietnam, based in Ho Chi Minh City, the property developer said Monday.

Lim was most recently CEO for Vietnam for CFLD International, and was previously general manager for Vietnam for CapitaLand, Frasers Property said in a filing to SGX.

Frasers Property’s Vietnam presence includes an investment in 21-storey retail and commercial development Me Linh Point Tower, and a mixed-use commercial-residential development called Q2 Thao Dien, both located  in Ho Chi Minh City, the filing said.

Read more about Frasers Property.

Chip Eng Seng

Chip Eng Seng reported Monday its first quarter net profit increased 83.8 percent on-year to S$11.25 million on higher property development revenue and lower tax expenses.

Read more: Chip Eng Seng reports 1Q19 net profit jumped 84 percent on higher development revenue

CSE Global

CSE Global reported Monday its first quarter net profit attributable to equity owners rose 0.5 percent on-year to S$5.73 million, despite a drop in revenue, amid increased infrastructure project revenue with higher gross margins.

Read more: CSE Global reports 1Q19 net profit rose slightly on higher infrastructure project revenue

 

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