UPDATE: Singapore stocks to watch Thursday: Singtel, Swiber, Sembcorp, Frasers Centrepoint, Allied Tech

Stock ticker at SGX building on Shenton Way; taken October 2018.Stock ticker at SGX building.

This article was originally published Thursday, 30 May 2019 at 1:35 A.M. SGT; it has since been updated to include TEE International. 

These are Singapore companies which may be in focus on Thursday, 30 May 2019:

Singtel

Singtel completed its subscription to 170.10 million new shares of Indian telco Bharti Airtel under its rights issue, the Singapore telco said in a filing to SGX Wednesday.

Read more: Singtel: Completed subscription to Bharti Airtel rights shares

Swiber Holdings

Creditors of Swiber Holdings (SHL) and its subsidiary, Swiber Offshore Construction (SOC) approved Wednesday a restructuring proposal, marking a key step toward an equity investment from New York-listed Seaspan Corp.

Read more: Swiber creditors approve restructuring proposal, a key step toward Seaspan investment

Sembcorp Industries

Sembcorp Industries said Wednesday its first thermal power plant in Bangladesh, the Sirajganj Unit 4 combined-cycle gas turbine (CCGT), began full commercial operations.

The around US$412 million dual-fuel power plant had started first-phase operations in single-cycle mode in October, with the plant now fully operational in combined-cycle mode, Sembcorp said in a filing to SGX.

The Sirajganj Unit 4 CCGT project, located in Soydabad, Sirajganj, is Bangladesh’s first public-private partnership power plant backed by foreign investment, the filing said. The plant is owned by joint venture Sembcorp North-West Power, which is 71 percent owned by Sembcorp Industries and 29 percent owned by Bangladesh’s state-owned North-West Power Generation Co., the filing said.

The plant has a capacity of 414 megawatts and is mainly gas-fired, with high-speed diesel as back-up fuel, Sembcorp said.

Read more about Sembcorp Industries.

Frasers Centrepoint Trust

Frasers Centrepoint Trust said Wednesday its preferential offering of shares will open on 30 May, and unitholders who want to accept their allotment will need to do so by 10 June.

The offering of 28.82 million new units is on the basis of 31 new units for every 1,000 existing units, with an issue price of S$2.35 per new unit, the trust said in a filing to SGX Wednesday.

The new units are expected to begin trading on SGX on 18 June, it said.

Read more about Frasers Centrepoint Trust.

Yanlord Land

Yanlord Land’s wholly owned subsidiary Yanlord Property Service Management entered a deal to dispose of 50 percent of Hangzhou Renhang Property Management to an unrelated third party, the Chinese property developer said in a filing to SGX Wednesday.

The registered capital of Hangzhou Renhang is unpaid and there was no consideration due for the disposal, Yanlord said.

The deal reduced Yanlord’s interest in Hangzhou Renhang to 50 percent from 100 percent, the filing said.

Read more about Yanlord Land.

Hyflux

Hyflux said Wednesday that the Singapore court granted an extension for a moratorium on creditor actions until 2 August, when the next court hearing is scheduled.

“This extension is subject to the continuation of ongoing weekly meetings with creditor representatives and updates on the running costs of the restructuring on a monthly basis, as well as an update on the restructuring on 29 June 2019,” Hyflux said in a filing to SGX.

Read more about Hyflux.

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Allied Technologies

Allied Technologies said Wednesday the Commercial Affairs Department (CAD) of the Singapore Police Force seized Tuesday information and documents related to the company, its subsidiaries and the missing S$33.15 million escrow account.

Read more: Allied Technologies: Police seize documents related to subsidiaries, missing escrow account

ESR REIT

ESR REIT entered into a S$150 million unsecured loan facility agreement with CIMB Bank’s Singapore branch, the REIT said in a filing to SGX Wednesday.

The facility includes a 60-month S$100 million term loan facility and a 36-month S$50 millin revolving loan facility, the filing said.

The proceeds will be used to refinance existing debts, to fund further acquisitions and asset improvements and/or for other general working capital purposes, the filing said.

Read more about ESR REIT.

TEE International

TEE International said Thursday its in talks to extend the completion date for its sale of TEE Land shares to Top Capital until 14 July at latest so the purchaser can meet the deal’s requirements.

Top Capital has offered to place S$1.83 million into an escrow account, in addition to the existing deposit of S$500,000, bringing the total amount to around S$2.33 million, or 12.45 percent of the purchase price, TEE International said in a filing to SGX before the market open.

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

iFAST Corp.

iFAST Corp. said Wednesday it incorporated iFAST Investment Management China (iFAST PFM), a wholly foreign owned enterprise private fund management company, in the China (Shanghai) Pilot Free Trade Zone with a registered capital of 10 million yuan (S$2.0 million or US$1.45 million).

iFAST PFM will be registering with the Asset Management Association of China for a private fund management license, which will enable the company to offer private funds to qualified onshore individual and institutional investors on the mainland, the company said in a filing to SGX.

Read more about iFAST.

Accrelist

Accrelist proposed Wednesday consolidating its shares, with shareholders to receive one consolidated share for every 20 existing shares held.

Read more: Accrelist proposes 20-to-1 share consolidation

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