UPDATE: Singapore stocks to watch Tuesday: Keppel, SingPost, Soilbuild REIT, Aspial

Singapore Post post boxes at the SingPost mCentre March 2018.Singapore Post post boxes.

These are Singapore companies which may be in focus on Tuesday, 24 September 2019: Singapore Post, Soilbuild REIT and Aspial.

This article was originally published on Monday, 23 September 2019 at 22:41 SGT; it has since been updated to include Keppel Corp. 

Keppel Corp.

Keppel Land China entered a deal to acquire a 30 percent stake in Win Up Global, which will own office and retail development Westmin Plaza, for around HK$141.4 million, or around S$24.8 million, from Topchain Group, Keppel said Tuesday.

Read more: Keppel Land China enters deal to acquire 30 percent of Westmin Plaza development

Singapore Post

Singapore Post clarified Monday that it was required to no longer consolidate its U.S. subsidiaries into its financial reports due to the Chapter 11 bankruptcy filing in the U.S.

“The Court has broad discretion according to the Bankruptcy Code, allowing the Court to issue any order, process, or judgment that is
necessary or appropriate,” SingPost said in a filing to SGX in response to queries from SGX. “For instance, the U.S. subsidiaries are required to obtain Court approval for any actions outside the ordinary course of business.”

Read more about SingPost.

Soilbuild REIT

Schroders ceased to be a substatial unitholder of Soilbuild Business Space REIT, with its deemed interest falling to 4.373 percent, below the 5 percent threshold, from 5.161 percent previously, the asset manager said in a filing to SGX Monday.

The decline in the deemed interest was due to Schroders not taking part in the REIT’s preferential offering of new units, the filing said.

Read more about Soilbuild Business Space REIT.

Aspial

Aspial said Monday the S$10 million of its 5.30 percent bonds due 2020 it repurchased in the market have been cancelled. The outstanding amount of the bonds is now S$190 million, the company said in a filing to SGX.

Read more about Aspial.

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