UPDATE: Singapore stocks to watch Wednesday: Lendlease Global REIT, CapitaLand, Frasers Property, Ezion

Exterior of 313@Somerset, a retail property located on Singapore's Orchard Road shopping belt. It is part of the Lendlease Global Commercial REIT portfolio. Credit: Lendlease Global Commercial Trust ManagementExterior of 313@Somerset, a retail property located on Singapore's Orchard Road shopping belt. It is part of the Lendlease Global Commercial REIT portfolio. Credit: Lendlease Global Commercial Trust Management

These are Singapore companies which may be in focus on Wednesday, 2 October 2019: Lendlease Global Commercial REIT, CapitaLand, Ascendas India Trust, Frasers Centrepoint Trust, Frasers Property, ST Engineering, Ezion Holdings, Keppel Corp., GuocoLand and Sabana Shari’ah Compliant REIT.

This article was originally published on Wednesday, 2 October 2019 at 12:03 A.M. SGT; it has since been updated to include Sembcorp Industries, Chip Eng Seng and Manulife US REIT.

Lendlease Global Commercial REIT

Lendlease Global Commercial REIT’s IPO of 387.47 million units at S$0.88 each has met with strong investor demand, with units set to begin trading on Wednesday at 2:00 P.M. SGT, the REIT said in a filing to SGX Tuesday.

In all, the offering had 1.17 billion units, raising gross proceeds of around S$1.03 billion, the REIT said.

CapitaLand and Ascendas India Trust

CapitaLand plans to increase its assets under management in India to S$7 billion, or around 362 billion Indian rupees by 2024, more than double the current level of S$3.3 billion, or around 170 billion rupees, the property developer said in a filing to SGX Tuesday.

Read more: CapitaLand plans to more than double India assets under management to S$7B by 2024

Frasers Centrepoint Trust and Frasers Property

Frasers Centrepoint Trust and Frasers Property said Tuesday their stakes in PGIM Real Estate AsiaRetail Fund have risen to a cumulative around 87.9 percent after a total of 69,714 shares in the fund were redeemed Monday.

Read more: Frasers Centrepoint Trust, Frasers Property stakes in Tiong Bahru Plaza owner rise

Chip Eng Seng and Sembcorp Industries

Chip Eng Seng has entered a deal to acquire Sembcorp Design and Construction (SDC) from Sembcorp Industries’ wholly owned subsidiary Sembawang Corp.  for S$49.9 million, the two companies said in separate filings to SGX Wednesday.

Read more: Chip Eng Seng to acquire Sembcorp Industries’ Sembcorp Design for S$50 million

ST Engineering

ST Engineering said Tuesday it has completed the acquisition of Newtec Group NV and it will be renamed ST Engineering iDirect Europe.

“This Newtec acquisition, together with the recent acquisition of Glowlink Communications Technology, Inc., which possesses advanced satellite communications anti-jamming technology, will enable ST Engineering to harness their unique capabilities to create a highly differentiated global satcom business group,” the company said in a filing to SGX.

“ST Engineering is now in a stronger position to lead in innovation and the transformation of the satcom industry to enable Smart Cities globally,” it added.

Read more about ST Engineering.

Ezion Holdings

Ezion Holdings said Tuesday Yinson Holdings’ offer to subscribe to Ezion’s shares and convert its debt into equity has lapsed, with conditions for the deal unmet six months after the agreement was made.

Read more: Ezion: Proposed Yinson takeover bid lapses after conditions aren’t met

Manulife US REIT

Manulife US REIT has launched a preferential offering of 72.86 million new units at US$0.86 each on the basis of 52 new units for every existing 1,000 units, the REIT said Wednesday. It distributed the instruction booklet to unitholders.

The preferential offering will close on 10 October for acceptances and applications for excess new units, and the new units are expected to begin trading on 18 October, the REIT said in a filing to SGX.

Read more about Manulife US REIT.

Keppel Corp.

Keppel Corp. said Tuesday it has completed the issuance of S$200 million 3.00 percent notes due 2026, issued under its US$5 billion multi-currency medium-term note program.

Singapore Exchange has giving approval in-principle for the listing and quotation of the notes, which is expected to begin Wednesday, Keppel said in a filing to SGX.

Read more: Keppel prices issue of S$200 million notes due 2026

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GuocoLand said Tuesday the newly awarded Tan Quee Lan Street site, when combined with its existing Guoco Midtown site in the Beach Road area, adds up to a significant 3.2 hectares, allowing it to create attractive connections with the Bugis MRT station.

The connections will include underground, ground level and elevated pedestrian networks, GuocoLand said in a filing to SGX.

In mid-September, the Urban Redevelopment Authority awarded the tender for the site to a joint venture between subsidiaries of GuocoLand and Hong Leong Holdings for S$800.19 million.

Read more about GuocoLand.

Sabana Shari’ah Compliant REIT

Sabana Shari’ah Compliant REIT’s manager has appointed Siow Meow Cheng as the head of investment and asset management, the REIT said in a filing to SGX Tuesday.

Siow will oversee the company’s investments, divestments and asset management, the filing said.

From August 2018 to September 2019, she was the director of capital markets and investment services at Colliers International (Singapore) and from February 2017 to July 2018, she was the head of investment at Sime Darby Real Estate Management, the filing said.

Read more about Sabana REIT.

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