Singapore stocks to watch Thursday: Olam, F&N, Soilbuild REIT, Chip Eng Seng

Fraser and Neave (F&N) club soda waterFraser and Neave (F&N) club soda water

These are Singapore companies which may be in focus on Thursday, 3 July 2019:

Olam International

Olam International’s wholly owned subsidiary Olam Holdings B.V. (OHBV) has obtained a revolving credit facility totaling US$375 million, the company said in a filing to SGX after the market close Wednesday.

Read more: Olam obtains US$375 million European credit facility

Fraser and Neave

Fraser and Neave’s wholly owned subsidiary F&N Investments subscribed for another 2.8 million new shares of Emerald Brewery Myanmar Ltd. (EBML) at US$1 each, raising its stake in the brewery to 79.79 percent, the drinks maker said in a filing to SGX Wednesday.

In addition, Myanmar-based Sun Ace subscribed for 700,000 new shares at US$1 each, raising its stake to 20.01 percent, the filing said.

The third shareholder of EBML, Than Lwin Aye Yar Industrial Production & Construction did not subscribe for any additional shares, keeping its holding at 76,500 shares, or a 0.20 percent stake, the filing said.

Read more about Fraser and Neave.

Soilbuild REIT

Soilbuild Business Space REIT said Wednesday that tenant NK Ingredients is in default of its lease agreement for failing to pay rent and other sums.

NK Ingredients did not immediately respond to Shenton Wire’s emailed request for comment, which was sent outside of office hours.

Read more: Soilbuild REIT: NK Ingredients in default of lease after July payment not received

Follow Shenton Wire on Telegram to receive alerts on your phone

Chip Eng Seng

Chip Eng Seng’s wholly owned subsidiary CES Cambridge (CESC) has entered a deal with The Perse School Cambridge International (TPSCI) to establish an elementary school in Singapore, the Singapore-listed company said in a filing to SGX Wednesday.

Read more: Chip Eng Seng ties up with Perse School Cambridge to set up Singapore elementary school

SunMoon Food

In response to queries from SGX, SunMoon Food said Wednesday it wasn’t aware of any information not previously announced to explain the 131.82 percent surge in its stock price to S$0.051.

The company added, however, that DBS Group Research on Tuesday had published an article that discussed SunMoon Food and other listed companies.

“This may explain the trading activities but the company wishes to stress that it cannot conclusively state that the article is the cause of the trading activity,” SunMoon Food said in a filing to SGX. “The article was written without any prior meeting or knowledge or consultation with the company or any of its officers, nor was any input in the article provided by the company and the company wishes to state that it is not the company’s policy to comment on such articles.”

Read more about SunMoon Food.

Addvalue Technologies

Addvalue Technologies said Wednesday it entered a deal with an Indonesian company, which specializes in providing the country’s government and military agency with satellite communications and IT services.

The Indonesian company agreed to purchase at least US$1 million of Addvalue’s very small aperture terminal (VSAT) service for the next 12 months in a renewable agreement, with an initial order of US$100,000 for immediate delivery, Addvalue said in a filing to SGX.

In addition, the Indonesian company is promoting Addvalue’s value added services and solutions (VASS) for Internet-of-Things (IoT) and machine-to-machine (M2M) markets, including for rural banking needs in Indonesia, the filing said.

Around half of the more than 12,000 rural banking ATMs in the country will need satellite connectivity soon, Addvalue said.

Read more about Addvalue Technologies.

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.