UPDATE: Singapore stocks to watch Monday: Keppel Pacific Oak, Frasers Centrepoint, Sembcorp, TEE

These are Singapore companies which may be in focus on Monday, 9 September 2019: Keppel Pacific Oak US REIT, Frasers Centrepoint Trust, Sembcorp Industries, China Everbright Water, Singtel, Boustead Projects, China Jinjiang Environment, Venture Corp., Thomson Medical Group, Tiong Seng and TEE International.

This article was originally published on Saturday, 7 September 2019 at 22:30 SGT; the item on China Jinjiang Environment has since been updated.

Keppel Pacific Oak US REIT

Keppel Pacific Oak US REIT, or KORE, entered a deal to acquire One Twenty Five, an office complex in the Dallas-Fort Worth area in Texas from KBS SOR 125 John Carpenter for US$101.5 million, the REIT said in a filing to SGX Friday.

Frasers Centrepoint Trust

Frasers Centrepoint Trust plans to acquire a 6 and two-thirds percent stake in Waterway Point mall for S$86.6 million, in a deal which would bring its total interest to 40 percent, the trust said in a filing to SGX Friday.

Sembcorp Industries

Sembcorp Industries said Friday it divested its entire 81.3 percent stake in Sembcorp Energy Australia, which was formerly named Vellocet Clean Energy, to Achievement (S) for A$10, or around S$9.40.

Sembcorp will be writing off Sembcorp Energy Australia’s net carrying value of S$3.0 million, the company said in a filing to SGX. ‘

China Everbright Water

China Everbright Water’s wholly owned subsidiary China Everbright Water Management and Haimen City Dayuan Water incorporated a joint venture called Everbright Water (Haimen) in China, the water infrastructure company said in a filing to SGX Friday.

The joint venture, which has a registered capital of 70 million yuan (S$13.59 million or US$9.84 million), will be 90 percent owned by China Everbright Water Management, the filing said.

Everbright Water (Haimen) will engage in waste-water treatment, reusable water, corporate management service and promoting waste-water treatment technologies, China Everbright Water said.

Singtel

Singtel’s wholly owned subsidiary Digital Gaming Investments has incorporated a wholly owned subsidiary called Digital Games International, the telco said in a filing to SGX Friday

Digital Games International, which has a paid-up capital of S$2, will be to operate a regional game store and online community portal, the filing said.

Boustead Projects

Boustead Projects said Friday it signed a memorandum of understanding with Getronics’ Singapore unit, Getronics Solutions (S), to collaborate on offing integrated smart-building services for industrial buildings, industrial parks and integrated digital cities.

Complex building management systems often comprise multiple systems and devises which are challenging to integrate to allow them to work together, the company said in a filing to SGX. But it planned to use Getronics’ technologies to integrate multiple connected systems across a portfolio of properties, the filing said.

China Jinjiang Environment

China Jinjiang Environment said Friday that S&P Global Ratings revised its outlook on the company to positive from negative and affirmed its issuer rating of BB-minus.

That was due to state-owned Zheneng Group’s acquisition of 29.79 percent of China Jinjiang’s shares, which S&P said could lower funding costs and potentially lead to a rating upgrade, the waste-to-energy company said in a separate statement Monday.

“The positive outlook by S&P Global Ratings is a strong vote of confidence and recognition of Zheneng Group’s entry into Jinjiang Environment as the largest controlling shareholder,” Zhang Chao, executive director and CEO of China Jinjiang Environment said in the statement Monday.

“We remain committed in maintaining financial prudence in our business expansion while leveraging on our new controlling shareholder’s financial resources and credit strength to reinforce our leading position in the WTE industry,” Zhang said.

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 a decrease in collateral of 525,705 shares, the asset manager said in a filing to SGX Friday.

Thomson Medical Group

Thomson Medical Group said Friday Quek Hong Sheng Roy will be stepping down as executive director and group CEO, effective 16 September, to pursue other professional interests.

Quek will also step down from directorships and appointments at the company’s subsidiaries, but will remain a non-executive director on the board, TMG said in a filing to SGX.

TEE International

TEE International said Saturday it will appoint an external third-party investigator to examine payments which weren’t disclosed to the board and/or executive committee.

Tiong Seng

Tiong Seng’s wholly owned subsidiary Tiong Seng Contractors was awarded an around S$287 million contract by JTC Corp., the company said in a filing to SGX Friday.

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