UPDATE: Singapore stocks to watch Thursday: HPHT, Swiber, Oxley, Sunpower, Prime US REIT, Venture

An aerial view of Singapore’s portAn aerial view of Singapore’s port

This article was originally published on Thursday, 25 July 2019 at 1:26 A.M. SGT; it has since been updated to include AIMS APAC REIT, Cache Logistics Trust and First Sponsor.

These are Singapore companies which may be in focus on Thursday, 25 July 2019:

Hutchison Port Holdings Trust

Hutchison Port Holdings Trust, or HPHT, reported Wednesday its second quarter net profit fell 19.7 percent on-year to HK$136.5 million (S$23.83 million or US$17.47 million) amid a hit from the ongoing U.S.-China trade war.

Read more: Hutchison Port Holdings Trust reports 2Q19 net profit fell 20 percent

Swiber Holdings

Swiber Holdings said Wednesday its wholly owned subsidiary Swiber Offshore Construction (SOC) entered a deal with Hilong Marine Engineering (Hong Kong) (HME) to form a joint venture for pipelines.

Read more: Swiber enters deal to form pipeline joint venture with Hilong Marine Engineering

Oxley Holdings

Oxley Holding said Wednesday its wholly owned subsidiary Oxley Docklands Quay Three (ODQ3) and National Asset North Quays (NANQ) have entered a contract to sell part of Dublin Landings in Ireland to GECR DL PROPCO B.V. for 154.6 million euros (S$234.93 million or US$172.29 million).

Read more: Oxley Holdings enters contract to sell part of Dublin Landings in Ireland

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Sunpower Group

Sunpower Group entered a deal to acquire a 90 percent stake in steam and electricity supplier Changshu Suyuan Thermal Power from 12 shareholders for around 320 million yuan (S$63.48 million or US$46.56 million), the Singapore-listed company said in a filing to SGX Wednesday.

Read more: Sunpower enters deal to acquire 90 percent of Changshu Suyuan Thermal Power

AIMS APAC REIT

AIMS APAC REIT reported Thursday its fiscal first quarter net property income rose 18.1 percent on-year to S$22.94 million on lower property operating expenses and higher revenue.

Read more: AIMS APAC REIT reports fiscal 1Q net property income rose 18 percent

Prime US REIT

BofAML Jersey Holdings, which indirectly wholly owns Merrill Lynch (Singapore) and Merrill Lynch International, has become a substantial shareholder of Prime US REIT with a deemed 5.4 percent stake, Merrill Lynch (Asia Pacific) said in a filing to SGX Wednesday.

The deemed interest is due to an over-allotment option exercisable by Merrill Lynch (Singapore) for up to 22.73 million Prime US REIT units as part of the IPO, the filing said.

In addition, Merrill Lynch International, which is also indirectly wholly owned by BofAML Jersey Holdings, is deemed interested in 695,400 units deposited by a prime brokerage client, the filing said. Merrill Lynch International also has a direct interest in the 3.77 million units it acquired on the market as part of stabilization activity for the IPO, the filing said.

Read more about Prime US REIT.

CapitaLand

CapitaLand’s indirect wholly owned subsidiary CRL Realty has acquired an additional 20 percent interest in Morganite from Wachovia Development Corp., an unrelated party, for S$4.4 million, the developer said in a filing to SGX Wednesday.

The deal brings CRL’s interest in Morganite to 55 percent, making it a subsidiary of CapitaLand, the filing said. The remaining 45 percent of Morganite continues to be held by other shareholders which aren’t related to CapitaLand, the filing said.

Morganite developed the Singapore condominium d’Leedon, which has sold all its units, the filing said.

Read more about CapitaLand.

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Frasers Logistics & Industrial Trust

Frasers Logistics & Industrial Trust said Wednesday it completed the divestment of a 50 percent stake in the property at 99 Sandstone Place, Parkinson, Queensland, Australia.

FLT and the purchaser entered a deal for JLL to manage and maintain the property, the trust said in a filing to SGX.

Read more: Frasers Logistics Trust enters deal to divest 50 percent of Queensland property for A$134 million

Venture Corp.

BlackRock ceased to be a substantial shareholder of Venture Corp., with its deemed interest falling to 4.98 percent from 5.16 percent after 525,516 shares were disposed of due to a decrease in collateral, the fund manager said in a filing to SGX Wednesday.

Read more about Venture Corp.

Cache Logistics Trust

Cache Logistics Trust reported Thursday its second quarter net property income fell 5.4 percent on-year to S$20.56 million after the divestment of two properties.

Read more: Cache Logistics Trust reports 2Q19 net property income fell 5 percent

Soilbuild Construction

Soilbuild Construction said Wednesday its preferential offering of up to 168.25 million shares, with up to 168.25 million free detachable warrants, received valid acceptances and excess applications representing around 92.9 percent of the total available under the offering.

Lim Chap Huat will subscribe to the balance of around 7.1 percent of offering, Soilbuild Construction said in a filing to SGX.

The rights shares and warrants will be issued on or around 29 July, with listing and quotation on SGX expected on 29 and 30 July, respectively, Soilbuild Construction said. The warrants each carry the right to subscribe for a new ordinary Soilbuild Construction share, the filing said.

Read more: Soilbuild Construction proposes share and warrant offering to fund factory expansion

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Citic Envirotech

Citic Envirotech reported Wednesday its second quarter net profit dropped 65.6 percent on-year to S$14.99 million as engineering revenue and membrane system sales fell.

Read more: Citic Envirotech reports 2Q19 net profit dropped 66 percent

First Sponsor

First Sponsor reported Thursday its second quarter net profit increased 24.7 percent on-year to S$15.05 million as more commercial units were handed over in the Chengdu Millennium Waterfront project.

Revenue for the quarter ended 30 June rose 80.1 percent on-year to S$79.44 million on improved contributions from property sales and hotel operations, First Sponsor said in a filing to SGX.

Read more about First Sponsor’s earnings report.

Delong Holdings

Delong Holdings has requested Wednesday a suspension of trade in its shares, pending a material announcement.

Read more about Delong Holdings.

Raffles United Holdings

Raffles Infinity Holdings said Wednesday it owns, controls or has agreed to acquire 91.06 percent of Raffles United Holdings’ shares and it intends to delist the company. Because it holds more than 90 percent of Raffles United, remaining shareholders can require Raffles Infinity to acquire their shares, the company said in a filing to SGX.

Read more about Raffles United.

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