UPDATE: Singapore stocks to watch Monday: City Developments, Singapore Airlines, Oxley, SPH

Singapore Airlines plane on the ground at Singapore’s Changi Airport; taken November 2018.Singapore Airlines plane Changi Airport.

This article was originally published on Saturday, 8 June 2019 at 12:48 A.M. SGT; it has since been updated to include Cromwell European REIT, Starhill Global REIT and Synagie.

These are Singapore companies which may be in focus on Monday, 10 June 2019:

City Developments

City Developments launched another takeover bid for Millennium & Copthorne Hotels at 685 British pence a share, in a deal that values the hotel operator at 2.23 billion pounds, or around S$3.86 billion, the Singapore property developer said Friday.

Read more: City Developments launches fresh takeover bid for Millennium & Copthorne Hotels

Singapore Airlines

Singapore Airlines said Friday around S$89.2 million of the gross proceeds from its issuance of S$750 million 3.03 percent bonds due 2024 was used toward the purchase of aircraft.

After the purchase, around S$176.1 million in gross proceeds is remaining and it will be used toward the purchase of aircraft and aircraft-related payments, the carrier said in a filing to SGX.

Read more about Singapore Airlines.

Oxley Holdings

Oxley Holdings said Friday that it has transferred 82.35 percent of Oxley Beryl, which owns the Chevron House property, to Golden Compass (BVI) for S$210.0 million as the “first completion” of the sale agreement.

After the transfer, Oxley holds the remaining 17.65 percent of Oxley Beryl, which has now ceased to be a subsidiary, the filing said.

Read more about Oxley Holdings.

Cromwell European REIT

Cromwell European REIT will receive compensation of 907,128 euros (S$1.4 million or US$1.03 million) from the French government for the loss of potential rents while the country deliberated on expropriating the Parc des Docks Saint-Ouen asset, the REIT said Monday.

Read more: Cromwell European REIT to get S$1.4M compensation from France for Parc Des Docks delay

Singapore Press Holdings

Singapore Press Holdings said Friday that its S$150 million of 4.50 percent subordinated perpetual securities were issued Friday and will begin trading on SGX on Monday.

The perpetual securities were issued under its S$1 billion multicurrency debt issuance program, SPH said in a filing to SGX.

Read more about Singapore Press Holdings.

Follow Shenton Wire on Telegram to receive alerts on your phone

Starhill Global REIT

Starhill Global REIT announced Saturday that after the three-year review, the new base rent for the next three years on the Toshin master lease will remain unchanged.

Toshin’s master lease covers all the retail areas, with the exception of five, at the Ngee Ann City property, located in Singapore’s Orchard Road shopping district, the REIT said in a filing to SGX. The lease is for a 12-year period starting from 8 June 2013, the filing said.

Starhill Global REIT owns 27.23 percent of the strata lots’ share value at Ngee Ann City, with the Toshin master lease contributing around 21.9 percent of the REIT portfolio’s gross rent, the filing said.

Read more about Starhill Global REIT.

TEE International

TEE International increased its investment in wholly owned subsidiary Nexfrontier Solutions by capitalizing a shareholder’s loan via subscribing for an additional 900,000 Nexfrontier shares for S$900,000, the company said in a filing to SGX Friday.

After the capitalization, Nexfrontier’s issued and paid-up share capital increased to S$1.4 million from S$500,000, the filing said.

Read more about TEE International.


Accrelist said Friday it would no longer proceed with a full launch of artificial intelligence-driven technology services at its WE9GO retail store.

“The company intends to move beyond smart retail technology solutions,” Accrelist said in a filing to SGX. “Following the company’s demonstration of its artificial intelligence retail technology solutions to other potential retailers, the company will continue to focus on strengthening its AI solutions and facial recognition verification services,” it added.

In a separate filing, Accrelist said it changed the name of its wholly owned subsidiary WE9 Pay to Accrelist A.I. Tech to reflect its plan to boost its AI services and facial recognition verification services.

Those services were aimed at access control for physical security, attendance tracking and monitoring and VIP recognition for customer service, it said.

Read more about Accrelist.

Uni-Asia Group

Uni-Asia Group said Friday that its bonus share issue of 26.20 million shares was issued and allotted on Friday, increasing the total share base to 78.60 million from 52.40 million.

The bonus shares, which were issued on the basis of one bonus share for every two existing shares, are expected to be listed and quoted on SGX Tuesday, Uni-Asia said in a filing to SGX.

Read more about Uni-Asia Group.


Synagie signed a deal with a subsidiary of Hong Kong-listed Weimob to offer cross-border e-commerce and advertising services to help Southeast Asia’s small- and medium-sized enterprises (SMEs) enter China’s huge social e-commerce market via the WeChat ecosystem, the Singapore-listed e-commerce services provider said in a filing to SGX Monday.

The Weimob services will allow SMEs in Southeast Asia assistance in setting up WeChat official accounts, digital store management, content translation, digital market and smart supply chain for fulfilling cross-border orders in China, the filing said.

The WeChat ecosystem has more than a billion active users on a monthly basis, Synagie said, citing Weimob’s prospectus.

Read more about Synagie.

While you’re here, we’re hoping you can help us out.

Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.

Your monthly contribution will directly fund our journalism.

S$2     S$4       S$8

S$18       S$28       S$88

You can check your existing account here. You can also contact us about other contribution levels or for corporate subscriptions and syndication queries.