UPDATE: Singapore stocks to watch Tuesday: Keppel, SPH, Wilmar, LMIR Trust, Accordia Golf, Koufu

Straits Times reading sculpture at Changi AirportStraits Times reading sculpture at Changi Airport

This article was originally published Monday, 3 June 2019 at 22:12 SGT; it has since been updated to include Keppel and Singapore Press Holdings.

These are Singapore companies which may be in focus on Tuesday, 4 June 2019:

Keppel Corp.

Keppel Corp. said Tuesday its associated company Floatel International has entered an all-share agreement to merge with Oslo-listed Prosafe in a deal that will result in the Singapore company indirectly holding around 22 percent of the combined companies.

Read more: Keppel enters deal to merge associate Floatel with Oslo-listed Prosafe

Wilmar

Agribusiness Wilmar’s subsidiary Yihai Kerry Arawana Holdings entered a deal to form a 50:50 joint venture in China with Associated British Foods to make, sell and distribute yeast and bakery ingredients, the companies said in a filing to SGX Monday.

Read more: Wilmar enters joint venture with Associated British Foods

Singapore Press Holdings

Singapore Press Holdings’ indirect subsidiary Straits Capital Trust has entered a four-year term loan facility of £205 million British pounds (S$354.80 million) with OCBC and Standard Chartered Bank (Singapore), the media and property company said Tuesday.

Read more: SPH enters 205 million pound term loan with OCBC and Standard Chartered

Lippo Malls Indonesia Retail Trust

Lippo Malls Indonesia Retail Trust said Monday that both Moody’s Investors Service and Fitch Ratings Singapore had assigned credit ratings to the trust.

Read more: UPDATE: Moody’s and Fitch assign ratings to LMIR Trust

Accordia Golf Trust

Accordia Golf Trust said Monday it has completed the divestment of Village Higashi Karuizawa Golf Club and no longer holds any interest in the golf course.

Read more: Accordia Golf Trust to divest one golf course for 200 million yen

Far East Orchard

Far East Orchard said Monday it incorporated three subsidiaries in the U.K. — IUKThree, IUKFour and IUKFive — with the purpose of investment holding and letting of leased real estate. Each subsidiary has issued and paid-up capital of £1, it said in a filing to SGX.

Read more about Far East Orchard.

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Tiong Seng Holdings

Tiong Seng Holdings’ wholly owned subsidiary Suzhou Huisheng Construction Development entered a deal to sell its entire 55 percent stake in China-based Jiangsu Huiyang Construction Development for 67 million yuan, or around S$13.4 million, the company said in a filing to SGX Monday.

The purchaser was the 45 percent minority shareholder of Huiyang, which is mainly involved in the sale, leasing and management of commercial units at retail investment property, Wenchang Broadway, the filing said.

“The disposal will allow the group to dispose a non-core business which generate minimal annual return, unlock value attached to the underlying assets and strengthen the group’s financial position for new investment opportunities as and when they arise,” Tiong Seng said.

Read more about Tiong Seng.

Koufu

Koufu said Monday its subsidiary, Super Tea (S), incorporated a wholly owned subsidiary in Malaysia, called Supertea R&B (Malaysia), with a paid-up capital of 1 ringgit. The new company will operate R&B tea kiosks.

Read more about Koufu.

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