UPDATE: Singapore stocks to watch Monday: SGX, SingPost, POSH, Keppel DC REIT, Chip Eng Seng

Signage at the SGX building on Shenton Way in Singapore; taken October 2018.Signage at the SGX building on Shenton Way in Singapore; taken October 2018.

These are Singapore companies which may be in focus on Monday, 23 September 2019: Singapore Exchange, Singapore Post, Ezion, PACC Offshore Services Holdings (POSH), Keppel DC REIT, UOL Group, Cromwell European REIT, Chip Eng Seng, Eagle Hospitality Trust and AusGroup.

This article was originally published on Sunday, 22 September 2019 at 22:28 SGT; it has since been updated to include Frasers Property (Thailand), Y Ventures and Spackman Entertainment. 

Singapore Exchange

Singapore Exchange said Friday INTL FCStone became a trading and clearing member on its derivatives market.

“INTL FCStone is an important player with a wide network across asset classes, services and industries – from financials to commodities and
currencies. We are also proud to support them as they use Singapore as a base to expand across Asia and look forward to working with them to grow our mutual franchise globally,” Chew Sutat, head of global sales and origination at SGX, said in a statement Friday.

The addition of INTL FCStone brought SGX’s derivatives market to 62 trading members and 25 clearing members, the statement said.

Read more about Singapore Exchange.

Singapore Post

Singapore Post is unlikely to obtain material cash from the planned sale of assets by its U.S. e-commerce subsidiaries after impairment losses and settling outstanding claims, S&P Global Ratings said in a report Thursday.

Read more: S&P: SingPost unlikely to see material cash from selling US e-commerce subsidiaries

Keppel DC REIT

Cohen & Steers Capital Management became a substantial shareholder of Keppel DC REIT after acquiring 43 million units at S$1.744 each for a total consideration of S$74.99 million, via a placement, Cohen & Steers said in a filing to SGX Friday.

Cohen & Steers’ deemed interest rose to 5.55 percent from 2.92 percent previously, the filing said.

Read more about Keppel DC REIT.

September Supporter Pledge Drive

Frasers Property (Thailand)

Frasers Property (Thailand) plans to make an offer for all of the remaining shares of its 94.77 percent-owned Golden Land Property and apply to delist it, Frasers Property said in a translated statement dated Friday and filed to SGX Monday.

The tender offer will be for 8.55 baht a share and requires the approval of Golden Land shareholders and regulators, the statement said.

Read more about Frasers Property (Thailand).

PACC Offshore and Ezion

PACC Offshore Services Holdings, or POSH, said Saturday that the event of default for its 50 percent-owned joint venture, POSH Terasea (PTPL), had triggered a cross-default.

Read more: PACC: JV’s event of default triggers cross-default

UOL Group

UOL Group’s wholly owned subsidiaries, Success Venture Investments (Jakarta) (SVIJ) and Pan Pacific Hotels and Resorts (PPHR), have established a new subsidiary in Indonesia, called PT Success Venture Hotel Investments, UOL Group said in a filing to SGX Friday.

PT Success Venture Hotel Investments, which will have share capital of US$20 million, is part of UOL’s business development plan to expand its Indonesia footprint via new opportunities, the filing said.

SVIJ will hold 99 percent of the new subsidiary, while PPHR will hold the remainder, the filing said.

Read more about UOL Group.

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Cromwell European REIT

Cromwell European REIT said Friday Motorola Solutions’ lease at Green Office, in Krakow, Poland, has been extended for an additional five years, with the expected expiration in 2026-2027.

After the extension, Motorola Solutions will be among the REIT’s top-10 tenants and the fifth-largest contributor to the portfolio’s gross rental income, the REIT said in a filing to SGX.

Read more about Cromwell European REIT.

Chip Eng Seng

Chip Eng Seng said Friday it expected its third-quarter financial results would be weaker than in the year-earlier period, but that it expected to remain profitable for the current financial year.

“The group is currently operating in a volatile economic environment. To meet the challenges ahead, the group intends to continue to focus on its core strengths while seeking viable opportunities to strategically grow its existing businesses,” Chip Eng Seng said in a trading update filed to SGX.

Read more about Chip Eng Seng.

Eagle Hospitality Trust

Wealthy Fountain Holding ceased to be a substantial shareholder of Eagle Hospitality Trust after disposing of 10 million units for US$6.5 million in an off-market transaction, Chinese property tycoon Tong Jinquan said in a filing to SGX Friday.

The sale brought Wealthy Fountain’s direct interest in Eagle Hospitality Trust to 4.96 percent from 6.11 percent previously, the filing said.

Wealthy Fountain is wholly owned by Shanghai Summit, which in turn is wholly owned by Tong.

Read more about Eagle Hospitality Trust.

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Spackman Entertainment

Spackman Entertainment Group’s upcoming film “Crazy Romance” is due to hit South Korean cinemas on 2 October, the drama producer said in a filing to SGX Monday.

Read more: Spackman Entertainment’s film ‘Crazy Romance’ to hit South Korean theatres next month

AusGroup

AusGroup said Friday it was awarded further work by thyssenkrupp Industrial Solutions for work on BHP WA Iron Ore’s South Flank Project.

The initial project was work on the RC03 reclaimer substructure, awarded in June, and with significant progress on that contract, thyssenkrupp Industrial Solutions awarded another five fabrication packages valued at around A$12 million, the company said in a filing to SGX. That brought the total contract value to around A$18 million, AusGroup, said.

Read more about AusGroup.

Y Ventures

Catalist-listed Y Ventures plans a placement of 24.66 million new shares at S$0.0812 each to raise around S$2.0 million to fund its business expansion via strategic joint venture partnerships and acquisitions, the e-commerce data-analytics company said in a filing to SGX Monday.

Read more: Y Ventures plans placement to raise around S$2 million

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