UPDATE: Singapore stocks to watch Thursday: MUST, SingPost, Frasers Logistics, Soilbuild REIT, TEE

These are Singapore companies which may be in focus on Thursday, 19 September 2019: Frasers Logistics & Industrial Trust, Soilbuild REIT, Ascendas REIT, City Developments, TEE International, Frasers Centrepoint Trust, Dasin Retail Trust and SIIC Environment.

This article was originally published on Thursday, 19 September 2019 at 1:15 A.M. SGT; it has since been updated to add OUE, Manulife US REIT and SingPost.

Manulife US REIT

Manulife US REIT entered a deal to acquire the Class-A office building in Sacramento, California, from 400 Capitol Mall Owner for around US$198.8 million, the U.S. focused REIT said in a filing to SGX Thursday.

The deal will be financed by a combination of loans and an equity fund-raising, the REIT said; it plans a private placement and preferential offering of new units to raise around US$142.1 million.

OUE

OUE entered a deal to sell Oakwood Premier OUE Singapore serviced residences, located at the OUE Downtown property, to DHI Holding for S$287.09 million, the property developer said in a filing to SGX Thursday.

Singapore Post

Singapore Post’s troubled U.S. e-commerce businesses, Jagged Peak, TradeGlobal and TradeGlobal North America, have filed for a Chapter 11 bankruptcy, the postal and logistics company said in a filing to SGX Thursday.

Frasers Logistics & Industrial Trust

Frasers Logistics & Industrial Trust will be included as a member of the GPR 250 Index series, which includes the GPR 250 Index and the GPR 250 REIT Index, effective 23 September, the trust said in a filing to SGX Wednesday.

“We are pleased with the positive news of FLT’s inclusion as a constituent stock of the GPR 250 Index Series, which we envisage will further
strengthen FLT’s visibility and profile among global investors,” Robert Wallace, CEO of the REIT’s manager, said in the statement.

FLT will be one of 10 Singapore REITs in the index series, which tracks the 250 most liquid listed property securities globally, the filing said.

Soilbuild REIT

Soilbuild Business Space REIT said the 192.14 million new units it issued at S$0.53 each in a preferential offering will begin trading Thursday.

The units were issued on a basis of 18 new units for every 100 existing units, Soilbuild REIT said in a filing to SGX.

Ascendas REIT

Ascendas REIT said Wednesday it completed the divestment of the property at No.8 Loyang Way 1 in Singapore to Seow Kim Polythelene for S$27 million.

“The proceeds may be recycled to fund committed investments, repay existing indebtedness, extend loans to subsidiaries, fund general corporate and working capital needs, and/or make distributions to unitholders,” the REIT said in a filing to SGX Wednesday.

After the divestment, the REIT owns 97 properties in Singapore, 35 in Australia and 38 in the U.K., the filing said.

City Developments

City Developments’ indirect wholly owned subsidiary Adelanto Investments subscribed for 1.53 million pre-series A preference shares of LivinWall for S$3 million, the property developer said in a filing to SGX Wednesday.

Singapore-based LivinWall carries out research and development and the manufacture of advanced building materials, and has an interior paint product which helps to improve indoor air quality, the filing said.

TEE International

Wayfoong Global became a substantial shareholder of TEE International after entering a binding term sheet to acquire 150 million shares from company CEO Phua Chian Kin for S$9 million, Low Ee Chin, a director of Wayfoong Global, said in a filing to SGX Wednesday.

Completion under the term sheet hasn’t taken place, the filing said.

Wayfoong Global, and its 100 percent owner Low Ee Chin, now have a deemed interest in a 23.19 percent stake, the filing said.

Frasers Centrepoint Trust

Frasers Centrepoint Trust completed the acquisition of an additional stake in the Waterway Point mall, raising its effective interest to 40 percent from 33.33 percent, the trust said in a filing to SGX Wednesday.

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Dasin Retail Trust

Dasin Retail Trust said it entered into a Hong Kong dollar- and Singapore dollar-denominated syndicated term loan facility of up to around S$106.61 million to finance the acquisition of Doumen Metro Mall, the REIT said in a filing to SGX Wednesday.

The facility was obtained from Bank of China’s Singapore branch, ICBC’s Singapore branch, ICBC (Macau) and Tai Fung Bank, the filing said.

SIIC Environment Holding

SIIC Environment Holding said Wednesday its subsidiaries entered two supplementary concessionary deals to raise water tariffs, one in Dalian and the other in Ningbo City in China.

SIIC Environment (Dalian), an indirect 75.5 percent-owned subsidiary, signed a supplementary agreement with the Dalian City Administration Bureau on concession rights for the Dalian Wan Wastewater Treatment Plant Project, the company said in a filing to SGX. The water tariff for the project will rise to 1.3666 yuan per cubic meter from 1.27 yuan previously, the filing said.

Fudan Water Engineering and Technology, an indirect 92.15 percent-owned subsidiary, signed a supplementary agreement on water rights tariffs with Ningbo Hangzhouwan New District Utilities Development for the Ningbo Hangzhouwan New District Wastewater Treatment Plant Project, the filing said.

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