UPDATE: Singapore stocks to watch Wednesday: Singtel, Frasers Property, Perennial, Accordia Golf Trust

SingTel retail store at Raffles City Mall in Singapore; taken September 2018.SingTel retail store at Raffles City Mall in Singapore.

This article was originally published on Wednesday, 29 May 2019 at 12:37 A.M. SGT; it has since been updated to include Yoma Strategic and Valuetronics. 

These are Singapore companies which may be in focus on Wednesday, 28 May 2019:

Airtel Africa, Bharti Airtel and Singtel

Airtel Africa has announced it plans to seek a potential initial public offering on the London Stock Exchange, India’s Bharti Airtel said in a letter to the Indian stock exchanges Tuesday.

Read more: Airtel Africa announces plan to seek IPO on London Stock Exchange

Valuetronics

Contract manufacturer Valuetronics reported net profit for its fiscal year fell 2.6 percent on-year to HK$199.48 million (S$35.05 million or US$25.41 million) on slowdown in smart LED lighting orders as the U.S. trade war hurt orders.

Read more: Valuetronics reports fiscal year net profit fell nearly 3 percent as trade war hits orders

Frasers Property

Frasers Property (Thailand) has announced Monday its intention to make a tender offer for all of Golden Land Property, valuing the company at 19.75 billion baht (S$855.38 million or US$621.27 million).

Read more: Frasers Property Thailand announces bid for Golden Land Property, valuing company at S$855M

Perennial Real Estate

Perennial Real Estate has entered a 50:50 joint venture with Mandalay Taungthaman Development Ltd. (MTDL) to build a mixed-use project in Mandalay, Myanmar, the Singapore company said in a filing to SGX Tuesday.

Read more: Perennial enters joint venture to build Myanmar mixed-use project

Accordia Golf Trust

Accordia Golf Trust reported Tuesday its fiscal fourth quarter net loss widened to 18.5 billion yen (S$232.82 million or US$169 million), from a loss of 2.88 billion yen in the year-ago period, on impairment losses at certain golf courses.

Read more: Accordia Golf Trust reports fiscal 4Q net loss widened on impairment losses

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Hyflux

Hyflux clarified Tuesday that its meeting with last week with potential investor Utico included “no conclusive numbers” or finalised deal.

Read more: Hyflux clarifies meeting with Utico included ‘no conclusive numbers’

Yoma Strategic

Yoma Strategic reported Wednesday its fiscal fourth quarter net profit surged by 20 times to US$26.1 million, boosted by fair value gains in real-estate services and more KFC outlets.

Read more: Yoma Strategic reports fiscal 4Q net profit surged by 20 times on fair value gains, KFC expansion

Allied Technologies

Singapore law firm JLC Advisors LLP denied knowledge of Allied Technologies’ demands and communications with JLC’s managing director, Ong Su Aun Jeffrey over the S$33.15 million missing from an escrow account, the company said in a filing to SGX Tuesday.

Read more: Allied Technologies: JLC denies knowledge of demands over missing S$33 million escrow funds

Dyna-Mac Holdings

Dyna-Mac Holdings said Tuesday it received a S$4 million order from a new customer to fabricate corrosion resistance alloy pipe spools for the central processing facility of an offshore gas field.

The work is expected to begin in the third quarter and be completed by the fourth quarter of this year, Dyna-Mac said in a filing to SGX.

The company said it will fabricate, clean, pickle, passivate, seal and transport the spools to the customer.

Read more about Dyna-Mac Holdings.

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