UPDATE: Singapore stocks to watch Friday: CapitaLand, Yangzijiang, Chip Eng Seng, Sakae, AF Global

CapitaLand construction site in Ho Chi Minh City, VietnamCapitaLand construction site in Ho Chi Minh City, Vietnam

These are Singapore companies which may be in focus on Friday, 23 August 2019: CapitaLand, Yangzijiang Shipbuilding, Chip Eng Seng, Aspial, Fragrance Group, AF Global, Boustead Singapore and Sakae Holdings.

This article was originally published on Friday, 23 August 2019 at 1:21 A.M. SGT; it has since been updated to include Frasers Property and CH Offshore.

CapitaLand

CapitaLand’s wholly owned subsidiary CapitaLand Treasury has priced an offering of S$800 million fixed-rate notes due 2029 at 3.15 percent, the property developer said in a filing to SGX Thursday.

Read more: CapitaLand prices S$800 million fixed rate notes due 2029

Yangzijiang Shipbuilding

Yangzijiang Shipbuilding stepped into the market with another buyback Thursday, scooping up an additional 2 million of its own shares, the Chinese shipbuilding said in a filing to SGX at midday Thursday.

Read more: Yangzijiang steps into market for another share buyback

Chip Eng Seng

Chip Eng Seng has proposed a rights issue of 156.50 million rights shares at S$0.63 each to raise around S$98.6 million to pay for expansion plans, the company said in a filing to SGX Thursday.

Read more: Chip Eng Seng proposes rights issue to raise around S$99 million

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Frasers Property

Frasers Property’s wholly owned subsidiary Frasers Property Treasury has elected to redeem all of its S$600 million 4.88 percent subordinated perpetual securities on 24 September, which is the first reset date for the interest rate, the property developer said in a filing to SGX Friday.

Upon redemption, which will be at 100 percent of face value, the perpetual securities will be canceled and delisted from SGX, Frasers Property said.

Aspial, Fragrance Group and AF Global

AF Corporation (AFC), a 50:50 joint venture between Aspial and Fragrance Group, has proposed distributing the 881.38 million shares in Singapore-listed AF Global it holds to the joint venture partners, the two companies said in filings to SGX Thursday.

Read more: AFC to distribute AF Global shares to Aspial and Fragrance

Boustead Singapore

Boustead Singapore’s wholly owned subsidiary, Boustead International Heaters (BIH) has landed a significant contract valued from the oil and gas sector for around S$100 million, the Singapore-listed company said in a filing to SGX Thursday.

Read more: Boustead lands around S$100 million oil and gas contract in Europe

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CH Offshore

CH Offshore said Friday an arbitration tribunal in proceedings brought by three ship brokers against the company for unpaid brokers’ commissions and damages of US$3.74 million has awarded in favor of the claimants in a 2:1 decision. The company’s counterclaims were dismissed, CH Offshore said in a filing to SGX.

“The arbitration award is expected to have a material impact on the company’s cash reserves and profitability for the current financial year,” CH Offshore said.

The final amount due will be determined after providing further information to the tribunal, CH Offshore said.

CH Offshore is a subsidiary of Baker Technology.

Read more about CH Offshore.

Sakae Holdings

Sushi restaurateur Sakae Holdings warned Thursday it expected to report a loss for the fiscal year ended 30 June, largely due to a goodwill impairment.

Read more: Sushi restaurateur Sakae Holdings warns of fiscal year loss

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