UPDATE: Singapore stocks to watch Monday: Keppel DC REIT, HKEx, CityDev, Ascendas H-Trust, TEE Intl

Ascendas Hospitality Trust's 241-room Pullman Sydney Hyde Park hotel located in Sydney's central business district. Credit: Ascendas Hospitality Trust.Ascendas Hospitality Trust's Pullman Sydney Hyde Park hotel in Sydney's central business district. Credit: Ascendas Hospitality Trust.

These are Singapore companies and other developments which may be in focus on Monday, 16 September 2019: HKEx, London Stock Exchange, City Developments, Millennium & Copthorne Hotels, Ascendas Hospitality Trust, Soilbuild REIT, TEE International, Boustead Singapore, CapitaLand, Lian Beng, EMAS Offshore and Raffles United.

This article was originally published on Saturday, 14 September 2019 at 12:14 A.M. SGT; it has since been updated to add Keppel DC REIT, Keppel Infrastructure Trust and Straits Trading.

Keppel DC REIT and Keppel Infrastructure Trust

Keppel DC REIT entered deals to acquire two data centers in Singapore, one partly owned by Keppel Infrastructure Trust and the other partly owned by Keppel Data Centres Holdings, for a total of around S$585.1 million, the companies said in filings to SGX Monday.

Read more: Keppel DC REIT to acquire two Singapore data centers for around S$585 million

Keppel DC REIT

Keppel DC REIT plans to raise around S$473.8 million via an equity fundraising including a private placement and a preferential offering to finance the proposed acquisitions of two data centers, the REIT said in a filing to SGX Monday.

Read more: Keppel DC REIT plans to raise around S$474 million in equity fundraising

HKEx and London Stock Exchange

The London Stock Exchange Group rejected Hong Kong Exchanges and Clearing’s around 29.6 billion pound (S$50.56 billion or US$36.85 billion) takeover bid in no uncertain terms, saying it had “fundamental concerns” about the proposal, including whether it would even be permitted.

Read more: London Stock Exchange unequivocally rejects HKEx takeover bid

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City Developments and Millennium & Copthorne Hotels

Millennium & Copthorne Hotels said Friday it will apply to cancel the listing of its shares on the London Stock Exchange after City Developments’ takeover bid resulted in it holding or agreeing to acquire 75 percent of the hotel operator.

Read more: Millennium & Copthorne to apply to cancel its listing

Ascendas Hospitality Trust

Ascendas Hospitality Trust terminated its deal to acquire the under-development serviced apartment component of a mixed-use development in Melbourne, Australia, from UEM Sunrise, the trust said in a filing to SGX Friday.

Read more: Ascendas Hospitality Trust terminates deal to acquire Australia property from UEM Sunrise

Soilbuild REIT

Soilbuild Business Space REIT’s preferential offering received valid acceptances and excess applications for 157.49 million units, or 81.97 percent of the new units available, the REIT said in a filing to SGX Friday.

Read more: Soilbuild REIT preferential offering acceptances at 82 percent

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TEE International

TEE International’s CEO and managing director, Phua Chian Kin, has informed the company he received offers to buy the shares he holds, the company said in a filing to SGX Friday.

Read more: TEE International: CEO received offer to buy his shares; brokerages force-sell some shares

TEE International

TEE International appointed PricewaterhouseCoopers Risk Services as its external investigator to probe unauthorized remittances and their impact on the financial statements as well as whether there were other undisclosed payments, the company said in a filing to SGX Friday.

Read more: TEE International appoints investigator to probe unauthorized remittances

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Boustead Singapore

Chong Ngien Cheong, who has been an independent, non-executive director at Boustead Singapore since 1996, sold 23.78 million of the company’s shares, or his entire 4.89 percent deemed and direct stake, for S$17.48 million in an off-market transaction, it said in a filing to SGX Friday.

He had held a 0.8 percent direct interest and a 4.81 percent deemed interest, the filing said. Chong was deemed interested in the shares held by Sang Chun Holdings, in which he owns at least 50 percent of the voting shares, the filing said

Wong Fong Fui, Boustead’s CEO and chairman, acquired the shares, raising his deemed interest to 41.48 percent from 36.59 percent previously, it said in a separate filing to SGX.

Read more about Boustead Singapore.

CapitaLand

CapitaLand said Friday it increased the registered capital of its wholly owned subsidiary ASB Flex China (AFCL) to 65 million yuan, or around S$12.62 million, from 26 million yuan previously.

AFCL, a China-based property management company, will used the proceeds to fund its working capital, CapitaLand said in a filing to SGX.

Read more about CapitaLand.

Lian Beng

Lian Beng Group’s 60 percent-owned subsidiary United Tec Construction landed an around S$107.5 million contract from CEL Newton to build a residential development at Kampong Java Road, the company said in a filing to SGX Friday.

Read more: Lian Beng subsidiary lands nearly S$108 million contract

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Straits Trading

The Straits Trading Co. announced Sunday it appointed Eric Teng as CEO of its wholly owned subsidiary Straits Developments, effective 1 October.

For 2016 through the present, Teng was executive director and CEO at Heeton Holdings, the filing said.

Read more about Straits Trading.

EMAS Offshore

EMAS Offshore said Friday its application to be placed under judicial management will be heard by the High Court of Singapore on 23 September.

Read more about EMAS Offshore.

Raffles United

Raffles Infinity said Friday that its takeover bid for Raffles United has resulted in it controlling around 95.07 percent of the target company.

Read more: Raffles United receives takeover bid from Raffles Infinity Holdings

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