UPDATE: Singapore stocks to watch Friday: UOB, MUST, palm oil players, Sunpower, TEE Intl, Fortune REIT

Singapore UOB bank branchSingapore UOB bank branch

These are Singapore companies which may be in focus on Friday, 20 September 2019: UOB, Sunpower, Fortune REIT, PACC Offshore Services Holdings and TEE International.

This article was originally published on Friday, 20 September 2019 at 12:42 A.M. SGT; it has since been updated to include Manulife US REIT. 


UOB became the first foreign bank to open a branch in Zhongshan City in China’s Guangdong Province, the Singapore bank said Thursday, adding it was seeking to provide more client support in the mainland’s Greater Bay Area (GBA).

Read more: UOB becomes first foreign bank to open branch in Zhongshan

Palm oil players

Anwar Ibrahim, the leader of Malaysia’s Pakatan Harapan coalition and the country’s storied former deputy prime minister, put the companies behind deadly forest fires in Indonesia on notice, saying they must be held to account.

Read more: Anwar Ibrahim: Toxic haze from Indonesia’s forest fires is ‘ecological warfare’

Manulife US REIT

Manulife US REIT priced its private placement of new units at US$0.876 each, the top of its US$0.849 to US$0.876 indicative range, as strong demand saw the offering more than seven times covered, the REIT said in a filing to SGX Friday.

Read more: Manulife US REIT private placement prices at top of range on strong demand

September Supporter Pledge Drive

Sunpower Group

The Indonesia Jinchuan WP & RKA Lateritic-Nickel-Ore Project power plant, designed by Sunpower subsidiary Yangguang Engineering Design Institute, achieved grid connection for all three of its units, the Singapore-listed company said in a filing to SGX Thursday.

Read more: Sunpower: Indonesia power project achieves grid connection for all units

Fortune REIT

Fortune REIT updated Thursday its expected date of delisting from SGX to 21 October, from 11 October previously; the last day for trading of units on SGX will be 10 October, the REIT said in a filing to SGX.

Read more about Fortune REIT.

PACC Offshore Services Holdings

PACC Offshore Services Holdings, or POSH, said Thursday an event of default has occurred on a loan facility to POSH Terasea (PTPL), a 50-50 joint venture with Terasea.

Read more: PACC Offshore Services: JV in default on around US$28 million loan facility

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TEE International

TEE International said Thursday it received an extension of time to file its financial results for the quarter ended 31 August and to hold is annual general meeting. That was after the company discovered undisclosed remittances, which it has instructed it auditors to review, TEE International said in a filing to SGX.

Read more about TEE International.

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