UPDATE: Singapore stocks to watch Friday: Hyflux, Keppel, CapitaLand, Hi-P, SPH REIT

Top of the CapitaLand building in Singapore’s central business district (CBD); taken September 2018.Top of the CapitaLand building in Singapore’s central business district (CBD); taken September 2018.

This article was originally published on Friday, 12 July 2019 at 12:52 A.M. SGT; it has since been updated to include Spackman Entertainment and Duty Free International.

These are Singapore companies which may be in focus Friday, 12 July 2019:


Troubled water infrastructure player Hyflux said Thursday it reached an agreement for UAE-based Utico FZC, the Middle East’s largest full-service utility and developer, to make a S$300 million equity investment and a S$100 million loan.

Read more: Utico and Hyflux reach deal with total S$400 million investment

Keppel Corp.

Keppel Land’s wholly owned subsidiary Monestine entered a deal to acquire a 60 percent interest in three land parcels in Ho Chi Minh City (HCMC) from Vietnamese developer Phu Long Real Estate for 1.30 trillion dong, or around S$76 million, the Singapore company said in a filing to SGX Thursday.

Read more: Keppel Land to acquire 60 percent stake in Ho Chi Minh City project


CapitaLand will being the public preview of its One Pearl Bank sales gallery from Saturday, with the project offering 774 units starting from under S$1 million, the property developer said in a filing to SGX Thursday. Bookings are due to start from 20 July, it said.

The project will have two 39-storey towers joined by sky bridges, and will include sky allotment gardens so residents can grow their own produce, the filing said.

Read more about CapitaLand.

Hi-P International

Contract manufacturer Hi-P International guided Thursday for lower revenue, but higher profit for the second quarter, compared with the second quarter of 2018.

Read more: Hi-P raises profit guidance for second quarter


SPH REIT reported Thursday its fiscal third quarter net property income rose 14.2 percent on-year to S$46.3 million, mainly on contributions from the acquisitions of The Rail Mall in Singapore and the Figtree Grove Shopping Centre in New South Wales, Australia.

Read more: SPH REIT reports fiscal 3Q net property income rose 14 percent on acquisitions

Ascott Residence Trust and Ascendas Hospitality Trust

Ascott Residence Trust said Thursday Tang Yigang, also known as Gordon Tang, executed an irrevocable deed of undertaking to vote 72 million Ascendas Hospitality Trust units, or an around 6.3 percent stake, in favor of the proposed merger of the two REITs.

In a separate filing to SGX Thursday, Ascott Residence Trust said ADHF executed an irrevocable deed of undertaking to vote 46.16 million Ascendas Hospitality Trust units, or a 4.1 percent stake, in favor of the proposed merger.

Read more about Ascott Residence Trust and Ascendas Hospitality Trust.

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Frasers Centrepoint Trust

Frasers Centrepoint Trust completed the acquisition of an effective 33.33 percent interest in the Waterway Point property, the trust said in a filing to SGX Thursday.

The trust added that of the S$437.4 million in gross proceeds from its preferential offering and private placement, around S$240.5 million was used to finance the purchase consideration, while around S$189.8 million was used to pare down bridging loans taken out to acquire a stake in PGIM Real Estate AsiaRetail Fund.

Read more about Frasers Centrepoint Trust.

Thomson Medical Group

Thomson Medical Group priced a S$225 million Singapore dollar senior bond due 2022 at 4.80 percent, in its first issuance under the S$500 million multicurrency debt issuance program established in late June, the company said in a filing to SGX Thursday.

The offering was 2.0 times oversubsribed, the filing said. The proceeds are earmarked to refinance existing debt and extend its debt maturity profile, the filing said.

“We are pleased that our maiden bond offering has been well received by investors in the market. This is an endorsement of the business strategy and growth prospects of our healthcare business,” Wilson Sam, executive director and group CFO at Thomson Medical Group, said in the statement.

DBS Bank, Credit Suisse and Maybank KimEng Securities were the joint bookrunners, the filing said.

Duty Free International

Malaysia-based Duty Free International reported Thursday its fiscal first quarter net profit attributable to shareholders fell 20.7 percent on-year to 7.2 million ringgit amid higher employee benefits expenses, professional fees and transportation costs.

Revenue for the quarter ended 31 May increased 15.5 percent on-year to 135.6 million ringgit on contributions from the newly acquired Brand Connect Group and higher demand for certain merchandise, the company said in a filing to SGX.

Read the financial statement and more coverage of Duty Free International.

Spackman Entertainment Group

Spackman Entertainment Group’s indirect wholly owned subsidiary Zip Cinema is set to begin filming its upcoming film Alone in the second half of this year, the South Korean drama producer said in a filing to SGX Friday.

The film, about the isolated survivors of a sudden infection, will headline actor Yoo Ah-in of UAA & Co., which is a subsidiary of Spackman Entertainment’s associated company Spackman Media Group, and actor Park Shin-hye, the filing said.

Read more about Spackman Entertainment Group.


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