UPDATE: Singapore stocks to watch Monday: Sembcorp Industries, SembMarine, Cromwell E-REIT, SIA

Singapore shipyards in Tuas areaSingapore shipyards in Tuas area

This article was originally published on Saturday, 22 June 2019 at 12:54 A.M. SGT; it has since been updated to add Dalian Wanda, Rex International, Synagie and Hiap Seng Engineering. 

These are Singapore companies which may be in focus on Monday, 24 June 2019:

Sembcorp Industries and Sembcorp Marine

Sembcorp Industries said Friday it agreed to provide Semcorp Marine with a five-year subordinated loan of S$2 billion to strengthen the rig builder’s financial position amid an on-going severe global downturn in the offshore and marine industry.

Read more: Sembcorp Industries to provide S$2 billion loan to Sembcorp Marine

Cromwell European REIT

Cromwell European REIT set the price for the placement of new units at 0.46 euro (S$0.71 or US$0.52), in an offering that was “considerably oversubscribed,” triggering the exercise of the upsize option, the REIT said in a filing to SGX Friday.

Read more: Cromwell European REIT fixes price for placement of new units amid strong demand

Temasek-tied Astrea V

The S$180 million retail offering of the Astrea V class A-1 bonds began trading on SGX Friday, meeting with solid volume.

Read more: UPDATE: Temasek-tied Astrea V private equity retail bonds begin trading

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Dalian Wanda Group

The Dalian Wanda Group is planning to list a REIT in Singapore in a deal including properties valued at more than US$1 billion, the Wall Street Journal reported last week, citing people with knowledge of the matter.

Read the original article here.

Singapore Airlines

Singapore Airlines used S$152.2 million of the proceeds of its sale of S$750 million 3.03 percent bonds due 2024 for the purchase of aircraft, the carrier said in a filing to SGX Friday.

The remaining S$23.9 million of the gross proceeds from the bond offering is also expected to be used for aircraft purchases and aircraft-related payments, the filing said.

Read more about Singapore Airlines.

Singapore Exchange

Singapore Exchange increased its investment in wholly owned subsidiary SGX Bond Trading (SGX-BT) by injecting S$5 million in exchange for the allotment of 5 million shares at S$1 each, the exchange said in a filing Friday.

That increased SGX-BT’s share capital to S$60 million from S$55 million, SGX said.

“The capital injection in SGX-BT will be used to fund the ongoing capital investments and operations and signals SGX’s commitment to the success of SGX-BT’s OTC Trading Platform for Asian Bonds (SGX Bond Pro) and enable SGX-BT to meet MAS regulatory capital requirements for the operation of SGX-BT as a licensed recognised market operator,” the filing said.

Read more about Singapore Exchange.

CapitaLand Retail China Trust

Prudential PLC increased its deemed interest in CapitaLand Retail China Trust (CRCT) to 6.10132 percent from 5.90919 percent, with the acquisition of 1.92 million units at S$1.54 each, it said in a filing to SGX Friday.

The insurer is considered a substantial shareholder in CRCT due to its deemed interest in units managed by its subsidiaries as fund managers, the filing said.

Read more about CapitaLand Retail China Trust.

No Signboard Holdings

No Signboard Holdings said Friday Cheng Wai Meng Ron ceased to fill the role the vice president of the restaurant operations, effective Friday.

Cheng has left to pursue other interests, the iconic chili crab restaurateur said in a filing to SGX.

Read more about No Signboard Holdings.

Synagie

E-commerce services company Synagie has been appointed the cross-border e-commerce initiative partner by the Malaysia Digital Economy Corp. (MDEC), a government agency, the Singapore-listed company said in a filing to SGX Monday.

MDEC, along with Malaysia’ Ministry of Trade and Industry, are working to promote the adoption of e-commerce by Malaysian businesses with a goal of doubling the country’s e-commerce growth rate and to reach a gross domestic product contribution of 211 billion ringgit by 2020, the filing said.

The tie-up lets Synagie use MDEC’s network to offer e-commerce services to Malaysian businesses to speed adoption and sell their products in Southeast Asia and China using Synagie’s network, the filing said.

Synagie’s services include cross-border sales and inventory management, warehousing and fulfillment, the filing said.

Read more about Synagie.

Rex International

Rex International’s 90 percent owned subsidiary Lime Petroleum AS (LPA) entered a deal to acquire 30 percent interests in licences for PL838 and PL838B in the Norwegian Sea from DEA Norge, the Singapore-listed company said in a filing to SGX Monday.

Exploration drilling is expected to begin in the fourth quarter, the filing said.

The PL838 and PL838B licenses are located in the prolific Donna Terrace area of the Norwegian Sea at a depth of around 350 meters, Rex said.

Read more about Rex International.

Hiap Seng Engineering

Hiap Seng Engineering warned Monday it expected to report net losses for the fiscal fourth quarter and fiscal year ended 31 March.

The company said in a filing to SGX the results would be released by 30 June.

Read more about Hiap Seng Engineering.

 

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