UPDATE: Singapore stocks to watch Monday: Keppel, Lendlease Global REIT, OCBC, Kingsmen, MeGroup

OCBC Bank branchOCBC Bank branch

These are Singapore companies which may be in focus on Monday, 7 October 2019: Lendlease Global Commercial REIT, OCBC, Triyards Holdings, Kingmen Creatives, MeGroup and Sim Leisure Group.

This article was originally published on Saturday, 5 October 2019 at 12:29 A.M. SGT; it has since been updated to include Keppel Corp. 

Keppel Corp.

Keppel Offshore & Marine’s wholly owned subsidiaries Fervale and FELS Offshore entered a settlement deal with six Sete Brasil subsidiaries over the construction of six semisubmersible drilling rigs being built for them, Keppel said Monday.

Read more: Keppel enters settlement deal with Sete Brasil over six rigs

Lendlease Global Commercial REIT and OCBC

OCBC has become a substantial shareholder of Lendlease Global Commercial REIT, with a deemed interest in 122.79 million units acquired for S$108.06 million in a placement, the bank said in a filing to SGX Friday.

The bank has a deemed interest of 10.513 percent, after its subsidiaries — Great Eastern Life Assurance, Great Eastern Trust, Lion Global Investors and BOS Trustee — acquired units through the REIT’s IPO, the filing said.

Read more about Lendlease Global Commercial REIT and OCBC.

OCBC and Triyards Holdings

Triyards Holdings said Friday it received a statutory demand dated 5 September from OCBC’s solicitors for US$11.57 million and 1.13 billion Vietnamese dong.

The demand states that if the sums aren’t paid, secured or compounded within 21 days of the letter, OCBC is entitled to present a winding-up order against the company, Triyards said in a filing to SGX.

The demand was due to a deed of guarantee and indemnity Triyards issued in 2014 guaranteeing banking facilities OCBC gave to Triyards’ subsidiary, Strategic Marine (V), the filing said.

“The company is assessing the impact of the statutory demand and is reaching out to OCBC to explore the possibility of an amicable resolution to the matter,” Triyards said.

Read more about OCBC.

Kingsmen Creatives and Hasbro

Kingsmen Creatives and global toy giant Hasbro opened Friday the first Nerf Action Xperience (NAX) arena, located in Singapore, the companies said in a filing to SGX.

The arena offers themed activity zones, including battleground-themed competition in two “NERF worlds,” Zombie City and Camp Dune, in play aimed at strategic thinking and teamwork, Kingsmen and NERF said. Other areas include ball-pools, zip lines and fabric tie-dye, the statement said.

“As the world’s first, the NAX arena will be a huge draw and appeal for both locals and international visitors. The NAX arena expects to see over hundreds of thousands of visitors annually,” the companies said in the statement.

Read more about Kingsmen Creatives and Hasbro.

MeGroup

MeGroup has entered a deal to acquire an additional 25 percent of its subsidiary and Honda dealership operator MJN Motors for up to 3.75 million ringgit (S$1.24 million), the Malaysian car dealership operator said in a filing to SGX Friday.

Read more: MeGroup enters deal to acquire additional 25 percent of Honda dealership operator

Sim Leisure Group

Sim Leisure Group said Friday its chief financial officer, Aw Yeong Weng Kwong, has resigned, effective 30 October, to pursue other career opportunities.

To ensure smooth operations for the finance team, the group’s corporate advisor, James Ho, has taken over Aw Yeong’s duties in the interim, while the company searches for a replacement, Sim Leisure said in a filing to SGX.

Read more about Sim Leisure Group.

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