UPDATE: Singapore stocks to watch Friday: ST Engineering, Suntec REIT, Wilmar, MCT, Sunpower

Suntec City mall in SingaporeSuntec City mall in Singapore

This article was originally published on Friday, 26 July 2019 at 12:31 A.M. SGT; it has since been updated to add Suntec REIT and Cromwell European REIT. 

These are Singapore companies which may be in focus on Friday, 26 July 2019:

ST Engineering

ST Engineering’s aerospace and electronics sectors obtained new contracts valued at around S$1.5 billion in the second quarter, the technology, defense and engineering group said in a filing to SGX Thursday.

Read more: ST Engineering lands S$1.5 billion in new contracts in 2Q19

Suntec REIT

Suntec REIT reported Friday its second quarter net property income dropped 7.2 percent on-year to S$56.36 million, mainly on the Suntec City Office upgrading works. The results missed a forecast from Daiwa.

Read more: UPDATE: Suntec REIT reports 2Q19 net property income dropped 7 percent, missing Daiwa forecast

Wilmar

Wilmar said Thursday its 99.99 percent-owned indirect subsidiary subsidiary Yihai Kerry Arawana Holdings (YKA) established a 97 percent owned subsidiary in China called Yihai Kerry (Kaifeng) Food Industries (YK Kaifeng).

YK Kaifeng has a registered capital of 333 million yuan (S$66.21 million or US$48.45 million) and will engage in the crushing of peanuts, refining and packaging of edible oils, processing of rice and flour milling, Wilmar said in a filing to SGX.

The remaining 3 percent of YK Kaifeng is held by Kaifeng Grain Industry Group, a party unrelated to Wilmar, the filing said.

Read more about Wilmar.

Mapletree Commercial Trust

Mapletree Commercial Trust reported Thursday its fiscal first quarter net property income rose 2.8 percent on-year to S$88.35 million on higher contributions from VivoCity, Mapletree Business City I (MBCI), PSA Building and Bank of America Merrill Lynch HarbourFront (MLHF).

Read more: Mapletree Commercial Trust reports fiscal 1Q net property income rose 3 percent

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Sunpower Group

Sunpower Group obtained a more than 30 million yuan (S$5.96 million or US$4.36 million) contract from new customer Fujian Gulei Petrochemical for manufacturing and services, the Singapore-listed environmental services company said in a filing to SGX Thursday.

Read more: Sunpower lands more than 30 million yuan contract from Fujian Gulei Petrochemical

Cromwell European REIT

Cromwell European REIT said Friday it has completed the acquisition of two properties in Krakow, Poland, for around 78.2 million euros (S$119.21 million or US$87.18 million), funding by a combination of 69.5 million euros of the proceeds of a private placement and an existing revolving credit facility.

Read more about Cromwell European REIT.

Sabana REIT

Sabana Shari’ah Compliant Industrial REIT reported Thursday its second quarter net property income dropped 4.2 percent on-year to S$12.04 million amid a “challenging market” and the divestment of the 9 Tai Seng Drive property earlier this year.

Read more: Sabana REIT reports 2Q19 net property income fell 4 percent

Ascendas India Trust

Ascendas India Trust reported Thursday its fiscal first quarter net property income rose 13 percent on-year to S$37.8 million. Total property income for the quarter ended 30 June increased 10 percent on-year to S$49.2 million, the trust said in a filing to SGX.

Read more: Ascendas India Trust reports fiscal 1Q net property income rose

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