UPDATE: Singapore stocks to watch Thursday: UOB, SGX, Sembcorp, Accordia Golf, Maxi-Cash

UOB logoPhoto by Leslie Shaffer

This article was originally published on Thursday, 11 July 2019 at 1:25 A.M. SGT; it has since been updated to include SGX, Ascendas India Trust and UOB. 

These are Singapore companies which may be in focus on Thursday, 11 July 2019:

Singapore Exchange

Singapore Exchange has changed its voluntary delisting rules, with immediate effect, to require exit offers to be both reasonable and fair, and to require offerors to abstain from voting on voluntary delisting resolutions, the exchange said Thursday.

Read more: Singapore Exchange to require exit offers to be ‘fair and reasonable’

UOB

UOB priced S$750 million in 3.58 percent perpetual securities, which will be issued under its US$15 billion global medium-term note program, the bank said in a filing to SGX Thursday.

Read more: UOB prices S$750 million perpetual securities

Sembcorp Industries

Sembcorp Industries increased its effective stake in its India energy arm, Sembcorp Energy India Ltd., or SEIL, to 94.05 percent from 93.73 percent, the company said in a filing to SGX Wednesday.

Read more: Sembcorp Industries increases stake in India energy arm

Ascendas India Trust

Ascendas India Trust entered a construction funding and forward purchase deal with an Arshiya Ltd. subsidiary to develop a warehouse at the Arshiya Free Trade Warehousing Zone, Panvel, near Navi Mumbai (Panvel FTWZ), the trust said in a filing to SGX Thursday.

Read more: Ascendas India Trust to invest in and acquire additional warehouse for around S$42 million

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Jardine Cycle & Carriage

Jardine Cycle & Carriage said Wednesday Alex Newbigging will step down as group managing director, effective 30 September, after more than seven years to become CEO of Jardine International Motors (JIM), based in Hong Kong.

Read more: Jardine C&C taps new managing director as Newbigging tapped to lead JIM

SIA Engineering and NokScoot

SIA Engineeering and NokScoot Airlines have incorporated a line maintenance joint venture company, called Line Maintenance Partnership (Thailand), in Thailand, the two companies said in a filing to SGX Wednesday.

The deal was initially announced in March.

Including the joint venture, SIA Engineering has a portfolio of 25 joint ventures across eight countries, the filing said.

NokScoot, an associate of Singapore Airlines, is 49 percent owned by Scoot Tigerair.

Read more about SIA Engineering and Singapore Airlines.

CapitaLand Retail China Trust

CapitaLand Retail China Trust (CRCT) has completed the divestment of its 51 percent stake in CapitaMalls Wuhu Commercial Property, which holds CapitaMall Wuhu, the trust said in a filing to SGX Wednesday.

After the divestment, CapitaMall Wuhu has ceased to be a subsidiary of CRCT, the filing said.

Read more about CapitaLand Retail China Trust.

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Maxi-Cash and Aspial

Maxi-Cash Financial Services plans to enter a revolving loan agreement for Aspial Corp. to provide a credit line of up to S$50 million, the pawn-shop operator said in a filing to SGX Wednesday.

Read more: Maxi-Cash plans to enter deal for credit line of up to S$50 million from Aspial

Accordia Golf Trust

Accordia Golf Trust reported Wednesday the number of players on its courses in June rose 3.9 percent on-year to 514,888.

The utilization rate for June was 81.8 percent, up 3.6 percentage points on-year, the trust said in a filing to SGX.

For the fiscal first quarter ended 30 June, the number of players rose 3.0 percent on-year to 1.62 million, while the utilization rate increased 2.8 percentage points to 85.0 percent, Accordia Golf Trust said.

Read more about Accordia Golf Trust.

Silverlake Axis

Silverlake Axis obtained two contracts to delivery digital platforms for financial services in Malaysia, and four software upgrade contracts, the company said in two filings to SGX Wednesday.

Read more: Silverlake Axis obtains four software upgrade contracts and two digital platform contracts

Cordlife

Cordlife Group pointed to trades by substantial shareholder Full Day after its shares jumped 16.50 percent Wednesday to end at S$0.60, off the day’s high of S$0.63.

Read more: Cordlife’s substantial shareholder Full Day boosts stake

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