UPDATE: Singapore stocks to watch Thursday: Frasers Property, SGX, Hyflux, OUE, Sunpower

SGX building on Shenton Way in SingaporeSGX building on Shenton Way in Singapore

This article was originally published Thursday, 27 June 2019 at 12:22 A.M. SGT; it has since been updated to add Singapore Exchange and Challenger Technologies.

These are Singapore companies which may be in focus on Thursday, 27 June 2019:

Singapore Exchange

Singapore Exchange announced Thursday it changed its organizational structure into four business units reporting to the CEO: Fixed income, currencies and commodities (FICC); equities, including cash and derivatives; data, connectivity and indexes; and global sales and origination.

Read more: SGX restructures into four business groups

Frasers Property

Frasers Property agreed to sell 50 percent of 38-storey Singapore commercial property Frasers Tower to a long-term strategic investor it didn’t name in an all-cash deal, the developer said in a filing to SGX after the market close Wednesday.

Read more: Frasers Property to sell 50 percent of Frasers Tower to unnamed investor

Singapore Exchange

In a first for an Asia-based exchange, Singapore Exchange has extended its portfolio compression service to include listed derivatives as well as over-the-counter (OTC) products, the Singapore market operator said Wednesday.

Read more: SGX launches first derivative-portfolio compression service in Asia

Singapore Exchange

Singapore Exchange said Thursday Muthukrishnan Ramaswami would be retiring as president after nine years in the role, effective 1 October.

Ramaswami had direct oversight of technology, operations, market data and connectivity and membership and international coverage operations, the exchange said in a filing.

Read more about Singapore Exchange.

Hyflux

Hyflux said Wednesday it renegotiated a 617 million yuan (S$121.32 million or US$89.68 million) loan facility agreement between its wholly owned subsidiary, Tianjin Dagang Newspring, and Bank of China’s Tianjin Dagang branch.

Read more: Hyflux renegotiates 617 million yuan loan facility with Bank of China

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OUE

OUE said Wednesday its bondholders passed an extraordinary resolution allowing the property developer to redeem the rest of its S$150 million 3.0 percent exchangeable bonds due 2023.

The property developer had previously said its invitation to bondholders to tender their notes for cash had received acceptances from a total of S$134.50 million worth of the bonds, or 89.67 percent of the outstanding amount.

OUE will purchase the tendered bonds on 27 June and redeem all the other outstanding notes on 18 July, the developer said in a filing to SGX. The bonds will be canceled, the filing said.

The bonds were exchangeable into OUE Hospitality Trust units. In April, OUE Hospitality Trust and OUE Commercial REIT proposed merging in a deal which would create one of the largest diversified REITs listed in Singapore, with assets of around S$6.8 billion.

Read more about OUE.

Sunpower Group

Sunpower Group obtained a 33.9 million yuan (S$6.67 million or US$4.93 million) contract for manufacturing and services from a new customer, Jilin Electric Power, the Singapore-listed company said in a filing to SGX Wednesday.

Read more: Sunpower lands 34 million yuan contract from Jilin Electric Power

Cromwell European REIT

UBS ceased to be a substantial unitholder of Cromwell European REIT after the disposal of 66.19 million units in an off-market transaction, the Swiss bank said in a filing to SGX after the market close Wednesday.

The deemed interest of UBS Group fell to 3.43 percent from 6.44 percent previously, the filing said.

Read more about Cromwell European REIT.

Challenger Technologies

Challenger Technologies requested a trading halt Thursday pending an announcement.

SGX has previously said it had no objection to the consumer electronics retailer delisting its shares.

Read more about Challenger Technologies.

Sino Grandness Food

JW Capital Group became a substantial shareholder of Sino Grandness Food after acquiring 85 million shares, or a 7.99 percent stake, for S$3.4 million via a placement, it said in a filing to SGX after the market close Wednesday.

Read more about Sino Grandness.

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