Singapore stocks to watch Wednesday: Keppel, CapitaLand Mall Trust, Swiber, Hyflux, Perennial, Kimly

CapitaLand’s Funan mall in SingaporeCapitaLand’s Funan mall in Singapore

This article was originally published on Wednesday, 8 May 2019 at 1:19 A.M. SGT; it has since been updated to include CapitaLand Mall Trust, Far East Orchard and China Everbright Water. 

These are Singapore companies which may be in focus on Wednesday, 8 May 2019:

Keppel Corp.

A consortium of Keppel FELS and Aibel AS has obtained a major contract from TenneT Offshore, a grid operator in the Netherlands and Germany, to design, build and install a 900 megawatt offshore high voltage direct current (HVDC) converter station and an onshore converter station.

Read more: Keppel-Aibel consortium obtains major renewable-energy contract

Swiber Holdings

The judicial managers of troubled marine engineering group Swiber Holdings (SHL) and Swiber Offshore Construction (SOC) recommended creditors vote in favor of the restructuring proposal at its meeting on 29 May, it said in a filing to SGX on Tuesday.

Read more: Swiber: Judicial managers recommend creditors approve restructuring plan

CapitaLand Mall Trust

The newly redeveloped Funan mall’s two office towers have reached 98 percent pre-leasing commitment, CapitaMall Trust said in a filing to SGX Wednesday.

Read more: CapitaLand Mall Trust’s Funan office towers at 98 percent commitment

Hyflux

Hyflux said Tuesday the Singapore court did not grant orders sought by seven banks to file applications to place the troubled water infrastructure player under judicial management.

In addition, the court extended the moratorium on legal proceedings against the company to 29 May, with a court hearing on a further extension scheduled for that day, Hyflux said in a filing to SGX.

Read more about Hyflux.

Perennial Real Estate

Perennial Real Estate Holdings reported Tuesday a first-quarter net loss of S$26.9 million, swinging from a year-ago profit of S$5.1 million on higher finance costs and initial start-up costs.

Read more: Perennial reports 1Q19 net loss on higher finance costs and startup costs

Keppel Infrastructure Trust

Ixom HoldCo, owned by Keppel Infrastructure Trust, said Tuesday it tapped Paul Atkinson as CEO, with effect from 17 June after current CEO Dean Draper stepped down with immediate effect.

Read more: Ixom taps Paul Atkinson as CEO after Dean Draper steps down

China Everbright Water

China Everbright Water said Wednesday its Hong Kong public offering has become unconditional and the shares will begin trading on the Stock Exchange of Hong Kong at 9:00 A.M. HKT.

Read more about China Everbright Water.

Keppel Corp.

Keppel Corp. said Tuesday it completed the issuance of S$150 million 3.0 percent notes due 2024 and S$350 million 3.66 percent notes due 2029, with the notes expected to list on the SGX-ST on Wednesday.

Read more about Keppel Corp.

Far East Orchard

Far East Orchard reported Tuesday its first quarter net profit fell 55.4 percent on-year to S$3.42 million, hurt by a weaker Australian dollar.

Read more: Far East Orchard reports 1Q19 net profit fell 55 percent amid weaker Australian dollar

Soilbuild Construction

Soilbuild Construction reported Tuesday it swung to a first quarter net loss of S$887,000 from a year-ago net profit of S$206,000 on additional property tax on its Integrated Construction and Precast Hub (ICPH) after its completion.

Read more: Soilbuild Construction swings to 1Q19 net loss on property tax

Kimly

Singapore coffee shop and food court operator Kimly reported Tuesday its fiscal second quarter net profit fell 13.2 percent on-year to S$4.73 million on higher expenses for headcount increases and higher delivery charges.

Read more: Kimly reports fiscal 2Q net profit fell 13 percent on higher expenses

Kingsmen Creatives

Kingsmen Creatives said Tuesday its indirect wholly owned subsidiary Kingsmen Shanghai increased its paid-up capital to US$1.65 million from US$1.35 million to fund its business expansion.

Kingsmen Shanghai mainly designs and produces interiors, exhibitions, decorations and museums, Kingsmen said in a filing to SGX.

Read more about Kingsmen Creatives.

 

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