UPDATE: Singapore stocks to watch Tuesday: Venture, Keppel REIT, Frasers Logistics, Spackman

Keppel REIT’s Ocean Financial CenterKeppel REIT’s Ocean Financial Center. Photo taken pre-Covid.

This article was originally published on Monday, 19 August 2019 at 23:52; it has since been updated to include Frasers Logistics & Industrial Trust and Spackman Entertainment.

These are Singapore stocks which may be in focus on Tuesday, 20 August 2019; it includes items on Venture Corp. and Keppel REIT.

Venture Corp.

BlackRock ceased to be a substantial shareholder of Venture Corp., with its deemed interest in the contract manufacturer falling to 4.98 percent from 5.28 percent, the investment manager said in a filing to SGX Monday.

That was due to a decrease in collateral affecting 862,658 Venture shares, the filing said.

Read more about Venture Corp.

Keppel REIT

Keppel REIT marked the topping out — or the figurative laying of the last beam in construction — of the Victoria Police Centre property at 311 Spencer Street in Melbourne, Australia, the REIT said in a filing to SGX Monday.

Keppel REIT and joint venture partner, Cbus Property, each own 50 percent of the 40-storey Grade A office tower slated to be the Victoria Police headquarters, the filing said.

“Upon the commencement of the 30-year lease to the Victoria Police expected in mid 2020, the office tower at 311 Spencer Street will contribute a steady income stream to Keppel REIT and complement our young and large pan-Asian portfolio of premium Grade A  commercial assets,” Paul Tham, CEO of Keppel REIT Management, the REIT’s manager, said in the statement.

Read more about Keppel REIT.

Frasers Logistics & Industrial Trust

Frasers Logistics & Industrial Trust will hold an extraordinary general meeting Tuesday for shareholders to approve its acquisition of 12 logistics properties.

Nine of the properties are in German, with the remainder in Australia, with purchase prices of 320.3 million euros (S$493.3 million) and A$125.5 million (S$119.2 million) respectively, for a total of A$644.7 million, or around S$612.5 million, FLT said in a filing to SGX Tuesday.

Read more about Frasers Logistics & Industrial Trust.

Spackman Entertainment

Spackman Entertainment Group said Tuesday SGX has provided a listing and quotation notice for the 165 million new shares the South Korean drama producer will issue as consideration for its proposed acquisition of Simplex Films.

The company will make an announcement once the acquisition is complete and the shares are issued, Spackman Entertainment said in a filing to SGX.

Read more about Spackman Entertainment.

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