Singapore stocks to watch Friday: Keppel, SATS, ThaiBev, OCBC, Prime US REIT

Chang Beer, made by Thai BeverageChang Beer, made by Thai Beverage

These are Singapore companies which may be in focus on Friday, 19 July 2019:

Keppel Corp.

Keppel Corp. reported Thursday its second quarter net profit dropped 39 percent on-year to S$153 million on the absence of year-ago contributions from en bloc property sales.

CGS-CIMB had forecast S$125 million in profit for the quarter.

Read more: UPDATE: Keppel Corp reports 2Q19 net profit dropped 39 percent on year-ago en bloc sales

SATS

SATS reported Thursday its fiscal first quarter net profit dropped 14.4 percent on-year to S$54.7 million amid the Jet Airways suspension, lower foreign exchange gains and lower cargo volumes amid trade uncertainty.

Read more: SATS reports fiscal 1Q net profit dropped 14 percent amid trade war pressures

Thai Beverage

Thai Beverage said Thursday International Beverage Vietnam (IB Vietnam) has completed a US$1 million increase in its charter capital, raising it to US$2 million.

IB Vietnam is a direct, wholly owned subsidiary of International Beverage Holdings Ltd. (IBHL), which in turn is a direct, wholly owned subsidiary of Thai Beverage, the Chang beer maker said in a filing to SGX.

IBHL funded the charter capital increase in IB Vietnam using cash flow from its operations, while IB Vietnam will use the fund to repay a shareholder’s loan and for working capital, Thai Beverage said.

Read more about Thai Beverage.

OCBC

OCBC’s subsidiary PT Bank OCBC NISP has incorporated a company, PT OCBC NISP Ventura, in Indonesia with a paid-up share capital of 100 billion rupiah, or around S$9.6 million, to finance equity-participation activity, the bank said in a filing to SGX Thursday.

Bank OCBC NISP will hold 99.9 percent of OCBC NISP Ventura, with the remainder held by Pramukti Surjaudaja, a director of OCBC, the filing said.

Read more about OCBC.

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SPH REIT

SPH REIT has obtained facilities for a S$95 million four-year loan, a S$65 million five-year loan and a S$50 million five-year loan, with the proceeds earmarked to refinance a S$210 million loan expiring on 22 July, the REIT said in a filing to SGX Thursday.

Read more about SPH REIT.

Prime US REIT

KBS US Prime Property Management, the manager of Prime US REIT, said Thursday 923.86 million units of the REIT are expected to be granted listing on SGX on Friday, with trading set to being at 2:00 P.M. SGT.

The IPO was priced at US$0.88 a unit, or S$1.20 a unit.

The public offering of 335.20 million shares, plus an over-allotment option of 22.73 million units, were 1.2 times subscribed, the REIT said in a separate filing to SGX.

Read more about Prime US REIT.

AIMS APAC REIT

AIMS APAC REIT obtained a master tenant to take up the entire property at 3 Tuas Avenue 2, which is currently undergoing redevelopment, the REIT said in a filing to SGX Thursday.

Read more: AIMS APAC REIT secures master tenant to take up 3 Tuas Avenue 2 redevelopment

Sabana REIT

Sabana Shari’ah Compliant Industrial REIT said Thursday it entered into a settlement deed with tenant Adviva Distribution for the 10 Changi South Street 2 property.

The tenant had given the REIT notice that a “special event” had occurred and that it sought to terminate the lease early, with the two parties agreeing to a termination on 18 July, the REIT said.

The tenant will pay around S$2.99 million under the agreement, Sabana REIT said. It added it didn’t expect any material adverse impact on the REIT’s distribution per unit.

“The manager has been and will continue to engage in active negotiations with prospective replacement tenants for the property,” Sabana REIT said.

Read more about Sabana REIT.

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YuuZoo Networks

YuuZoo Networks said Thursday it has made a second request to SGX RegCo to lift the share trading suspension imposed on its shares in March 2018.

The company noted RegCo had said when it imposed the suspension that it would be lifted when it was satisfied the shares could trade on a “fair, orderly and transparent basis.”

“The board of the company believes continuing to keep the suspension in place is unjustified and deeply damaging to Yuuzoo shareholders,” YuuZoo Networks said in a filing to SGX. “The company has provided the market all the information RegCo has asked for.”

YuuZoo added it requested RegCo to “kindly state what information the company still needs to provide. YNG Corp. will then immediately provide that information to RegCo and the investing public.”

Read more about YuuZoo Networks.

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