UPDATE: Singapore stocks to watch Monday: ThaiBev, Wilmar, Hyflux, SGX, SIA, Accordia Golf Trust

Thai baht notesThai baht notes

This article was originally published on Saturday, 11 May 2019 at 1:24 A.M. SGT; it has since been updated to include UOL, SIA Engineering, EC World REIT, OUE, Cromwell European REIT, Manulife US REIT, Challenger Technologies, TEE Land, TEE International, Pine Capital and No Signboard Holdings.

These are Singapore companies which may be in focus on Monday, 13 May 2019:

Thai Beverage

Thai Beverage reported Friday its fiscal second quarter net profit fell 8.6 percent to 6.76 billion Thai baht (S$291.97 million or US$214.33 million) on lower net profit from the spirits, food and F&N/FPL businesses.

Read more: Thai Beverage’s fiscal 2Q net profit fell around 9 percent

Wilmar

Wilmar reported Friday its first quarter net profit rose 26.4 percent on-year to US$257 million on better results from the tropical oils, sugar and consumer products segments.

Read more: Wilmar reports 1Q19 net profit rose 26 percent on tropical oils, sugar

Singapore Exchange

Singapore Exchange said Friday it would amend rules on securities trading and market practices, effective 3 June, after supportive feedback from a public consultation.

Read more: Singapore Exchange amending rules on securities trading, market practices

UOL

UOL reported Friday its first quarter net profit fell 5 percent on-year to S$72.36 million, but property development revenue grew.

Read more: UOL reports 1Q19 net profit fell 5 percent

Singapore Airlines

Singapore Airlines reported Friday it used around S$123.8 million of the proceeds from its S$750 million 3.03 percent bond offering due 2024 toward the purchase of aircraft.

After the payment, the balance of gross proceeds remaining is S$352.8 million, which will be used for aircraft purchases and aircraft-related payments, SIA said in a filing to SGX.

Read more about Singapore Airlines.

Hyflux

Hyflux said Friday it received a non-binding letter of intent from Oyster Bay Fund which has proposed an investment of up to S$500 million in the troubled water infrastructure company.

Read more: Hyflux: Oyster Bay Fund weighing investment of up to S$500 million

 

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SIA Engineering

SIA Engineering reported Friday its fiscal fourth quarter net profit fell 12.3 percent on-year to S$49.3 million on a year-earlier divestment gain from the sale of Asian Compressor Technology Services.

Read more: SIA Engineering reports fiscal 4Q net profit fell 12 percent amid lower fleet management

OUE

OUE reported Friday its first quarter net profit rose 0.3 percent on-year to S$1.03 million amid changes to accounting standards for leases.

Read more: OUE reports nearly flat 1Q19 net profit amid lower hospitality revenue

Cromwell European REIT

Cromwell European REIT reported Monday its first quarter net property income jumped 33.8 percent to 26.42 million euros (S$40.51 million or US$29.69 million) on new acquisitions and improved leasing.

Read more: Cromwell European REIT reports 1Q19 net property income jumped 34 percent

Manulife US REIT

Manulife US REIT said Monday it has completed the acquisition of Centerpointe I & II, located in Fairfax, Virginia, in a deal partially funded with US$89.4 million in proceeds from a private placement.

Read more: Manulife US REIT to acquire two-tower Virginia property for US$122 million

EC World REIT

EC World REIT reported Friday its first quarter net property income slipped 1.4 percent on-year to S$21.19 million, mainly on exchange rate differences between the Singapore dollar and the Chinese yuan.

Read more: EC World REIT reports 1Q19 net property income slipped amid foreign-exchange fluctuations

Accordia Golf Trust

Accordia Golf Trust warned Friday it expected to report a “significant loss” for the full fiscal year ended 31 March, mainly on the impairment of some golf courses and goodwill.

Read more: Accordia Golf Trust warns of ‘significant loss’ for fiscal year

TEE Land and TEE International

TEE International entered a deal to sell 100.47 million TEE Land shares to Top Capital Securities at S$0.186 a share for a total S$18.69 million in cash, the company said in a filing to SGX Friday.

Read more: TEE International to sell stake in TEE Land stake for S$18.69 million

No Signboard Holdings

Iconic chili crab restaurateur No Signboard Holdings reported Friday a net loss of S$337,512 on start-up costs for the hotpot and quick-serve restaurants.

Read more: No Signboard reports fiscal 2Q net loss on start-up expenses

Challenger Technologies

Challenger Technologies reported first quarter net profit attributable to owners fell 22 percent on-year to S$4.08 million as margins were pinched by competitive pricing in the “difficult” IT retail market and an increase in operating expenses.

Read more: Challenger Technologies reports 1Q19 net profit fell 22 percent

Pine Capital

Pine Capital said Friday the extraordinary general meeting (EGM) of its 51 percent-owned subsidiary, Advance Capital Partners Asset Management (ACPAM), resulted in approved resolutions to remove Tan Choon Wee and Lin Kuan Liang Nicolas as directors, with immediate effect.

In March, Tan had resigned as interim CEO and executive chairman of Pine Capital ahead of an attempt to oust him from the asset management group.

Trina Savage and Pan Ki Ro were appointed as non-executive directors of ACPAM at the EGM, while Wang Meng was tapped as executive director, Pine Capital said in a filing to SGX.

Read more about Pine Capital Group.

HRnetGroup

HRnetGroup said Friday that as of Wednesday it has a 7.85 percent interest in Hong Kong-listed Bamboos Health Care Holdings, a healthcare staffing services company with more than 20,000 healthcare workers registered as of end-2018.

The healthcare life science sector contributed around 11 percent to HRnetGroup’s revenue over the past two years, the Singapore-based company said in a filing to SGX.

HRnetGroup said it “intends this investment in Bamboos as a start to a strategic partnership to further expand and develop its people-related business in the healthcare sector.”

Read more about HRnetGroup.

Correction: This item has been updated to reflect the correct date, Monday, 13 May 2019.

 

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