Singapore stocks to watch Friday: Koufu, China Everbright Water, ST Group Food, Hour Glass

Singapore CBDSingapore CBD

These are Singapore companies which may be in focus on Friday, 5 July 2019:

Koufu

Koufu’s subsidiary Super Tea (S) has entered a joint venture to expand the Supertea and R&B Tea brands into Indonesia, the food court operator said in a filing to SGX Thursday.

Read more: Koufu enters joint venture to expand Suptertea and R&B Tea brands into Indonesia

China Everbright

China Everbright Water obtained three environmental protection projects requiring a total investment of around 340 million yuan (S$67.09 million or US$49.48 million), the water infrastructure player said in a filing to SGX after the market close Thursday.

Read more: China Everbright Water lands three environmental protection projects

ST Group Food Industries

ST Group Food Industries has secured exclusive rights from Hyein Foods to franchise the NeNe Chicken brand in New Zealand, the Australia-based food and beverage company said in a filing to SGX after the market close Thursday.

Read more: ST Group Food obtains rights to NeNe Chicken brand in New Zealand

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The Hour Glass

The Hour Glass acquired an eight-storey retail and commercial office building at 190 Edward Street, in Brisbane, Australia, for A$32 million, or around S$30.3 million, from BAMPS Trust, the watch retailer said in a filing to SGX Thursday.

The property, which was acquired via wholly owned subsidiary The Hour Glass (Australia), is located in the main luxury retail area in Brisbane’s central business district, the filing said.

“The acquisition of the property is consistent with the group’s preferred business model of operating within its directly owned property assets. Identifying and acquiring prime luxury retail premises in choice locations where the group operates provides security of tenure,” The Hour Glass said in the filing, adding the deal will boost its Australian retail footprint.

The deal was funded with internal resources and bank borrowings, and it is expected to boost earnings per share, based on pro forma estimates, the filing said.

Read more about The Hour Glass.

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