UPDATE: Singapore stocks to watch Monday: Keppel, CapitaLand, CMT, Genting Singapore, ST Engineering

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

This article was originally published Saturday, 1 June 2019 at 21:58 SGT; it has since been updated to include Keppel, CapitaLand and CapitaLand Mall Trust.

These are Singapore stocks which may be in focus on Monday, 3 June 2019:

CapitaLand and CapitaLand Mall Trust

The retail component of the Funan development, owned by CapitaLand and CapitaLand Mall Trust, is set to re-open on 28 June, two months ahead of schedule, after a three-year redevelopment period.

Read more: CapitaLand’s Funan Mall to re-open at end-June

Keppel Corp.

Keppel Data Centres invested around 14 million euros (S$21.50 million or US$15.65 million) in data center developer and operator Etix Group’s series C funding, taking a minority stake, Keppel said in a filing to SGX before the market open Monday.

Read more: Keppel invests around 14 million euros in data center operator Etix

Genting Singapore

Genting Singapore said Friday it appointed Nanami Kasasaki as chief corporate officer, in a role which assists the president and chief operating officer in strategic development of investment projects, acquisitions and new business opportunities.

Kasasaki has been corporate officer at Genting Singapore since April and was executive vice president of corporate planning and corporate finance from July 2017 to March 2019, the company said in a filing to SGX.

She has been with Genting Singapore since 2008, the company said.

ST Engineering

ST Engineering said Friday its U.s. company, Vision Technologies Systems, set up a subsidiary, ST Engineering Halter Marine and Offshore, based in Pescagoula, Mississippi, U.S.

The new subsidiary, which has a share capital of US$10, or around S$13.62, will be responsible for the upgrade and repair of drilling rigs, military, para-military and commercial ships, and marine and industrial engineering work in the U.S., ST Engineering said in a filing to SGX.

The word was formerly done by VT Marine, the filing said.

Read more about ST Engineering.

SPH and Perennial Real Estate

Singapore Press Holdings and Perennial Real Estate said Friday that the disposal of their stakes in Chinatown Point Mall have been completed.

Read more: UPDATE: SPH, Perennial Real Estate to divest Chinatown Point Mall stakes


OUE’s wholly owned subsidiary Beacon Ltd. has acquired 1.11 billion shares, or a 7.0 percent stake, of Gemdale Properties and Investment (GPI) for HK$0.88 a share (S$0.15 or US$0.11), the property company said in a filing to SGX Friday.

That brought its stake in GPI to around 21.8 percent from around 14.8 percent previously, making it an associated company, OUE said.

“The group’s investment in GPI allows the group to have further access and exposure to the real estate market in China and provide the group a continued opportunity to leverage on future potential collaborations and partnerships with the GPI group,” OUE said.

Read more about OUE.

Fragrance Group

Fragrance Group said Friday it repurchased S$2.5 million of its S$125 million 6.125 percent notes due 2021 via an on-market purchase at the prevailing quoted price.

The notes were acquired from GP Hotel Capital, an entity which Koh Wee Meng, a controlling shareholder and company director, has an interest, Fragrance said in a filing to SGX.

“The repurchase of the relevant notes will reduce the group’s interest expense. The Audit Committee is of the view that the acquisition of the relevant notes is on normal commercial terms,” Fragrance said.

Read more about Fragrance Group.

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Indofood Agri

Indofood Sukses Makmur said Friday it was raising the offer price for Indofood Agri to S$0.3275 a share, taking into account the final 2018 dividend of S$0.0025 a share.

The company said it wouldn’t further revise the offer price.

The previous offer price was S$0.28, or S$0.2775 after accounting for the final dividend, Indofood Sukses Makmur said in a filing to SGX.

The offer closing date has been extended to 25 June, it said.

Read more about Indofood Agri.

Challenger Technologies

Challenger Technologies reported Friday its first quarter net profit fell 22 percent on-year to S$4.12 million on lower rebates from vendors, higher employee benefits costs, higher selling and distribution expenses, and increased rental expenses.

Revenue for the quarter ended 31 March increased 4 percent on-year to S$80.93 million on improved performance from the IT products and services business on contributions from tradeshow sales, the electronics retailer said in a filing to SGX.

“The operating environment in the retail sector has remained challenging. However, we sill continue to capture sales in new locations we are currently not present by opening new outlets and rationalize underperforming sales,” Challenger said in the filing.

It said it was opening three new stores — at Jewel Changi, West Coast Plaza and Paya Lebar Quarter — in the second half of this year, and was closing stores at Great World City and Thomson Plaza.

Read more about Challenger Technologies.

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