UPDATE: Singapore stocks to watch Wednesday: ST Engineering, Mapletree Logistics, CDG, StarHub, TEE

ST Engineering display at CommunicAsia conference in Singapore in 2019.ST Engineering display at CommunicAsia conference in Singapore in 2019.

These are Singapore companies and other news which may be in focus on Wednesday, 18 September 2019: ST Engineering, Mapletree Logistics Trust, ComfortDelGro, StarHub, TEE International, OUE Commercial REIT, Straits Trading, Accrelist and Dasin Retail Trust.

This article was originally published on Wednesday, 18 September 2019 at 12:41 A.M. SGT; it has since been updated to add Mapletree Industrial Trust. 

BofA-ML fund manager survey

Fund managers’ recession expectations have hit levels last seen during the Global Financial Crisis, according to the Bank of America-Merrill Lynch survey for September, released Tuesday.

Read more: Fund managers’ recession fears grow, BofA-ML September survey finds

ST Engineering

ST Engineering’s U.S. subsidiary, iDirect Government, acquired Glowlink Communications Technology, which specializes in improving satellite-communications quality, for US$20 million or around S$28 million, the aerospace and defense company said in a filing to SGX Tuesday.

Read more: ST Engineering acquires satellite anti-jamming services firm Glowlink

Mapletree Industrial Trust

Mapletree Industrial Trust’s private placement was oversubscribed, triggering the upsize option, with the offering pricing at S$2.265, the top of its indicative range, raising around S$400 million, the trust said Wednesday in a filing to SGX.

Read more: Mapletree Industrial Trust private placement meets strong demand, prices top of range

Mapletree Logistics Trust

Mapletree Logistics Trust has entered a conditional deal to acquire an under-development logistics warehouse in Australia from Wooreddy Investments for A$18.4 million, or around S$17.4 million, the REIT said in a filing to SGX Tuesday.

Read more: Mapletree Logistics Trust enters deal to acquire Australia logistics property

September Supporter Pledge Drive


ComfortDelGro was included in the Dow Jones Sustainability Asia Pacific Index, making it one of only five Singapore companies which are a part of an index considered “the undisputed gold standard in sustainability benchmarking,” the transportation company said in a filing to SGX Tuesday.

“This is a significant milestone in our ongoing sustainability journey which is based on our firm belief that businesses can and must play a sustainability role. As a transport operator, our operations have a significant impact not just on the environment but on communities as a whole,” Yang Ban Seng, managing director and group CEO of ComfortDelGro, said in the statement.

“This is why we have moved from a single dimension of financial value creation to a triple bottom line approach that encompasses the
social, economic and environmental dimension,” Yang added.

Read more about ComfortDelGro.


StarHub said Tuesday it would be airing the new seasons of around 15 U.S. television series on the same day they air in the U.S.

Read more: UPDATE: StarHub to provide around 15 US TV series on same-day basis

OUE Commercial REIT

OUE Commercial REIT’s manager said Tuesday it appointed Lee Yi Shyan as new chairman of the board and non-independent, non-executive director, replacing the existing chairman, Christopher James Williams, who will become deputy chairman.

In addition, Lionel Chua was appointed chief financial officer of the manager, the REIT said in a filing to SGX.

Read more about OUE Commercial REIT.

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TEE International

TEE International said Tuesday one of its wholly owned subsidiaries was awarded a new contract valued at around S$20 million for engineering and construction works.

The company’s outstanding order book is at S$416 million, TEE International said in a filing to SGX.

Read more about TEE International.

Straits Trading

Franklin Resources and its wholly owned subsidiary Franklin Templeton Institutional ceased to be substantial shareholders of Straits Trading after the disposal of 4 million shares for S$8.16 million, Franklin Resources said in a filing to SGX Tuesday.

The shares were disposed of by funds and managed accounts which are managed by investment advisers directly or indirectly owned by Franklin Resources, the filing said.

After the disposal, the deemed interest held by Franklin Resources and Franklin Templeton Institutional fell to 4.85 percent from 5.83 percent previously, the filing said.

Read more about Straits Trading.


Accrelist has entered a non-binding term sheet to acquire The Wellness Clinic from Verita Healthcare Group for S$16.96 million as part of the expansion of its medical aesthetics arm, Accrelist Medical Aesthetics, the company said in a filing to SGX Tuesday.

Read more: Accrelist enters deal to acquire The Wellness Clinic for S$17 million

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Dasin Retail Trust

Glory Class Ventures said Tuesday it became a substantial shareholder of Dasin Retail Trust after acquiring 49.70 million units for S$41.55 million in a placement.

A host of entities related to Glory Class Ventures, including its 100 percent owner Oceanland Global Investment, were deemed to have an interest in the stake, adding them to the list of substantial shareholders, it said in a filing to SGX.

The entities include: Oceangroup International Investment, Sino-Ocean Capital, Fortune Joy Ventures, Heroic Peace, Sino-Ocean Land (Hong Kong), Faith Ocean International, Shine Wind Development, Sino-Ocean Group Holding, Oriental Model, Joyful Clever, New Harvest International, Beijing Dehui Tou Zi Guan Li You Xian Gong Si, Yuan Yang Tou Zi You Xian Gong Si, Yuan Yang Zi Ben You Xian Gong Si, Ning Bo Mei Shan Bao Shui Gang Qu Ao Shen Yi Yang Tou Zi You Xian Gong Si, and Team Bloom Investment.

Read more about Dasin Retail Trust.

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