Singapore stocks to watch Thursday: UOL, PSA, Yongnam, Sabana REIT, Stamford Land

UOL Group’s Kinex mall in GeylangUOL Group’s Kinex mall in Geylang

These are Singapore companies which may be in focus on Thursday, 23 May 2019:

UOL Group and UIC

UOL Group said Wednesday its interest in United Industrial Corp. (UIC) has increased to 718.23 million shares, or 50.136 percent.

That was after UOL’s wholly owned subsidiary UOL Equity Investments made an off-market purchase of 585,968 UIC shares at S$3.056 each, UOL said in a filing to SGX.

Read more about UOL.

PSA International

PSA International, the Polish Development Fund (PFR) and the IFM Global Infrastructure Fund (GIF) have completed their deal to jointly acquire DCT Gdansk, which is Poland’s largest container terminal, the companies said in a filing to SGX Wednesday.

Read more: PSA, PFR and IFM to jointly buy Poland’s largest container terminal

Vibrant Group and Sabana REIT

Vibrant Group entered a deal to sell its entire 51 percent stake in Sabana Investment Partners for S$20.46 million to InfinitySub.

In addition, Vibrant’s wholly owned subsidiary Singapore Enterprises Pvt. Ltd. agreed to sell a 6.51 percent stake in Sabana Shari’ah Compliant Industrial REIT, or 68.60 million units, to E-Shang Infinity Cayman for S$32.93 million, it said in a filing to SGX Wednesday.

Read more: Vibrant Group to sell stakes in Sabana Investment Partners and Sabana REIT

Yongnam Holdings

Yongnam Holdings has proposed a placement of up to S$15 million of new, non-listed convertible bonds with a two-year maturity and a 7 percent interest rate, payable half-yearly.

Read more: Yongnam plans placement of up to S$15 million in bonds

Stamford Land

Stamford Land reported Wednesday its fiscal fourth quarter net profit dropped 80.4 percent on-year to S$5.03 million, hurt by a weaker Australian dollar and a “severe downturn” in Australia’s property market.

Read more: Stamford Land reports fiscal 4Q net profit tumbled 80 percent

SingHaiyi Group

SingHaiyi reported Wednesday its fiscal fourth quarter net profit jumped 47.6 percent on-year to S$9.7 million on higher margins from U.S. projects and a fair value gain on the 9 Penang Road property.

Read more: SingHaiyi’s reports fiscal 4Q net profit jumped 48 percent on fair value gain,


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