UPDATE: Singapore stocks to watch Thursday: Cordlife, GIC, Singtel, ComfortDelGro, OUE, KIT

ComfortDelGro taxiComfortDelGro taxi

This article was originally published on Wednesday, 5 June 2019 at 1:00 A.M. SGT; it has since been updated to include China Everbright Water and CDL Hospitality Trusts.

Singapore’s markets were closed Wednesday, 5 June 2019 for the Hari Raya Puasa public holiday. These are Singapore companies which may be in focus on Thursday, 6 June 2019:

Cordlife Group

Cordlife Group made a non-binding proposal to take over New York Stock Exchange-listed Global Cord Blood in an all-share deal, the Singapore cord-blood banking company said in a filing to SGX Tuesday.

Read more: Cordlife makes more than S$1 billion takeover bid for NYSE-listed Global Cord Blood

GIC

Indian renewable energy company Greenko announced Tuesday a deal for a US$495 million equity raising from Singapore state-owned investment company GIC and an entity owned by the Abu Dhabi Investment Authority (ADIA).

Read more: GIC and Abu Dhabi entity to invest US$495 million in India green energy player Greenko

ComfortDelGro

ComfortDelGro has made investments in three transportation-related technology start-ups via its six-month-old US$100 million corporate venture capital fund ComfortDelGro Ventures, the transportation company said in a filing to SGX Tuesday.

Read more: ComfortDelGro makes three strategic investments in transport tech start-ups

Singtel

Airtel Africa plans to proceed with an initial public offering on the London Stock Exchange, aiming to raise US$750 million, Bharti Airtel said in a filing to the Indian stock exchanges Tuesday.

Read more: Singtel-tied Airtel Africa aims to raise US$750 million in London IPO

OUE

OUE invited holders of its S$150 million 3.00 percent exchangeable bonds due 2023 to tender the securities to be purchased in cash, conditional on bondholders’ approval of the proposal, the property company said in a filing to SGX Tuesday.

Read more: OUE proposes redeeming S$150 million exchangeable bonds due 2023

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Keppel Infrastructure Trust

Keppel Infrastructure Trust has proposed Tuesday an issuance of S$200 million 4.75 percent subordinated perpetual securities as series 001 under its S$1 billion multicurrency debt issuance program.

Read more: Keppel Infrastructure Trust proposes S$200 million perpetual security issue

Frasers Property

Frasers Property Thailand has submitted its tender offer for all of Golden Land’s shares to Thailand’s Secretary-General of the Office of the Securities and Exchange Commission (SEC), the president of the Stock Exchange of Thailand and Golden Land’s board and securities holders, Frasers Property said Tuesday.

The offer price of 8.50 baht per Golden Land share is the final offer, and the offer period of 5 June to 8 August won’t be extended, Frasers Property said in a filing to SGX.

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

Frasers Hospitality Trust

Frasers Hospitality Trust said Tuesday the proposed 477.48 million ringgit (S$156.76 million or US$114.55 million) medium-term notes issue by its special purpose vehicle Notable Vision was rated by RAM Ratings.

Of the issuance, the 95 million ringgit class A  senior medium-term notes were rated AAA, while the 95 million ringgit class B junior medium-term notes were rated B2 and the 287.48 million ringgit class C junior medium-term notes were rated C3, the trust said in a filing to SGX; RAM Ratings gave all of the notes a stable outlook.

The issuance, which is expected to have a five-year tenure, is intended to refinance the 456.5 million ringgit notes, maturing on 12 July, which were used to finance the purchase of the Westin Kuala Lumpur, the filing said.

Maybank Investment Bank was appointed the lead manager for the notes, the trust said.

Read more about Frasers Hospitality Trust.

CDL Hospitality Trusts

CDL Hospitality Trusts said Thursday it renewed the lease on the Grand Millennium Auckland, the largest hotel in New Zealand, with Hospitality Services Ltd.

The lease started on 7 September 2016 with a three-year term and options to renew for two additional three-year terms, CDL Hospitality Trusts said in a filing to SGX before the market open.

Hospitality Services is a wholly-owned subsidiary of New Zealand-listed Millennium & Copthorne Hotels New Zealand, which is in turn a subsidiary of Millennium & Copthorne Hotels, itself a subsidiary of City Developments, controlliing unit-holder of CDL Hospitality Trusts.

The trust owns 16 hotels, two resorts and a retail mall, the filing said.

Read more about CDL Hospitality Trusts.

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China Everbright Water

China Everbright Water obtained two waste-water treatment projects in Jiangsu province with a total investment of around 503.6 million yuan (S$99.59 million or US$72.89 million), the water infrastructure company said in a filing to SGX Thursday.

Read more: China Everbright Water lands two projects in Jiangsu province

Yongnam Holdings

Yongnam Holdings said Tuesday bondholders agreed to be issued S$12.5 million in its proposed bond placement, with the placement completed. The company had previously proposed issuing up to S$15 million of bonds.

The net proceeds are still earmarked for working capital purposes, Yongnam said in a filing to SGX.

Read more: Yongnam plans placement of up to S$15 million in two-year convertible bonds

Soilbuild Construction

Soilbuild Construction Group said Tuesday it increased its investment in wholly owned subsidiary Precast Concrete (PCPL) to S$15 million from S$250,000 by subscribing for an additional 14.75 million PCPL shares.

The investment, which was funded by internal resources, was to strengthen PCPL’s capital base, Soilbuild said in a filing to SGX.

Read more about Soilbuild Construction.

Challenger Technologies

Challenger Technologies said Tuesday it had received letter from SGX-ST advising that the exchange had no objection to the consumer electronics retailer’s plan to delist its shares.

The company added it would be providing shareholders with a delisting circular setting out the exit offer, the advice of independent financial adviser to the independent directors and the notice of the extraordinary general meeting.

Read more about Challenger Technologies.

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