UPDATE: Singapore stocks to watch Friday: UOB, CapitaLand, Starhill Global REIT, F&N, Sakae, Silverlake

UOB branch at Tiong Bahru PlazaUOB branch at Tiong Bahru Plaza

These are Singapore companies likely to be in focus on Friday, 30 August 2019: CapitaLand, Starhill Global REIT, Fraser and Neave, ARA Asset Management, Silverlake Axis, MindChamps PreSchool, Sakae Holdings and PEC.

This article was originally published on Friday, 30 August 2019 at 1:19 A.M. SGT; it has since been updated to include UOB.

UOB

UOB prices US$500 million in 1.625 percent covered bonds due 2022 at 99.694 percent of the principal amount, the bank said in a filing to SGX Friday.

Read more: UOB prices US$500 million covered bonds due 2022

CapitaLand

CapitaLand’s wholly owned subsidiary Mingzhu Investments (Hong Kong) has divested its 100 percent interest in Citadines Ming Zhu (Chongqing) Property (CMCQ) to Zhongshen Tianjin Commercial Management for 99.2 million yuan, or around S$19.6 million, the property developer said in a filing to SGX Thursday.

CMCQ, which owns the property called Somerset Jiefangbei Chongqing, will cease to be a subsidiary of CapitaLand after the divestment, the filing said.

“The divestment is in line with CapitaLand’s approach towards disciplined portfolio optimization through capital recycling,” the filing said.

Read more about CapitaLand.

Starhill Global REIT

S&P Global Ratings downgraded Starhill Global REIT to BBB from BBB-plus on Thursday as the REIT faces pressure from rent reversions in its key Singapore assets as the economy weakens.

Read more: S&P downgrades Starhill Global REIT rating to BBB as rents face pressure

Fraser and Neave

Fraser and Neave’s wholly owned subsidiary F&N Investments (F&NI) subscribed for 5.2 million new shares of Emerald Brewery Myanmar Ltd. (EBML) at US$1 each, the soft drink maker said in a filing to SGX Thursday.

Read more: Fraser and Neave boosts investment in Emerald Brewery Myanmar

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ARA Asset Management

ARA Asset Management has proposed Thursday issuing S$350 million of 5.60 percent subordinated perpetual securities under its S$1.5 billion multi-currency debt issuance program as series 004.

Read more: ARA Asset Management proposes S$350 million perpetual securities issue

CapitaLand

CapitaLand said Thursday it has received approval in-principle to list its issuance of S$800 million 3.15 percent fixed-rate notes on SGX. The notes are expected to be listed on Friday, the property developer said in a filing to SGX.

Read more about CapitaLand.

Silverlake Axis

Silverlake Axis obtained a contract to assist in the digital transformation of an established Malaysian consumer credit card provider by replacing its legacy systems with a new platform, the financial software company said in a filing to SGX Thursday.

Read more: Silverlake Axis lands contract from Malaysia credit card provider

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Sakae Holdings

Sakae Holdings posted Thursday a net loss of S$13.40 million for its fiscal year after taking impairment losses related to its 2016 acquisition of Cocosa Export.

Read more: Sushi restaurateur Sakae posts fiscal year net loss on impairment charges on Cocosa Export

MindChamps PreSchool

Bank of America became a substantial shareholder of MindChamps PreSchool after its deemed interest rose to 5.005 percent from 4.995 percent previously, the bank said in a filing to SGX Thursday.

That was after the acquisition of 24,600 shares as part of the international prime brokerage business, the filing said.

Read more about MindChamps PreSchool.

PEC

PEC said Friday it entered a deal to acquire the property at 14 International Business Park in Singapore from Chiyoda Singapore for S$7.2 million.

The property is a leasehold property with an initial term of 30 years, starting from 1 March 1996, and a covenant from Jurong Town Corp. for another 30 year term, PEC said in a filing to SGX. The consideration will be funded via internal resources, the filing said.

PEC said it planned to use the building as its headquarters, citing its more accessible location as providing employees with easier access to work and helping to attract potential new employees.

Read more about PEC.

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