Singapore stocks to watch Tuesday: SembMarine, Lendlease Global REIT, Oxley, Chip Eng Seng

An advertisement for the Lendlease Global Commercial REIT IPO at the Paya Lebar Quarter Mall, which was developed by Lendlease.An advertisement for the Lendlease Global Commercial REIT IPO at the Paya Lebar Quarter Mall, which was developed by Lendlease.

These are Singapore companies which may be in focus on Tuesday, 8 October 2019: Sembcorp Marine, Lendlease Global Commercial REIT, Oxley Holdings, Chip Eng Seng, Parkson Retail Asia and Spackman Entertainment Group.

Sembcorp Marine

Sembcorp Marine said Monday it has reached a settlement with Sete Brasil’s subsidiaries over contracts for seven drillships with a total contract price of US$5.6 billion.

Read more: Sembcorp Marine enters settlement deal with Sete Brasil over 7 drillship contracts

Lendlease Global Commercial REIT

BlackRock became a substantial shareholder in Lendlease Global Commercial REIT, acquiring a 5.09 percent stake, or 59.54 million units, for S$52.39 million after participating in the REIT’s IPO, the asset manager said in a filing to SGX Monday.

The stake is a deemed interest because BlackRock has indirect control of the entity holding the direct interest, the filing said.

Read more about Lendlease Global Commercial REIT.

Oxley Holdings

Oxley Holdings acquired the 60 percent of Pindan Group it didn’t already own for nil consideration to settle its claim over the company failing to meet agreed performance targets, the Singapore-listed property developer said in a filling to SGX Monday.

Read more: Oxley acquires stake in Pindan Group it didn’t already own

Chip Eng Seng

Chip Eng Seng entered a deal to acquire an around 38 percent stake in educational technology company Amdon Consulting for S$5.4 million, the construction and education company said in a filing to SGX Monday.

Read more: Chip Eng Seng enters deal to acquire stake in education tech company Amdon Consulting

Parkson Retail Asia

Parkson Retail Asia said Monday it received an undertaking from Parkson Holdings Bhd. for continued financial support for 12 months amid auditor concerns over whether the department store operator can continue as a going concern.

Read more: Parkson Retail Asia gets support from holding company amid going concern issue

Spackman Entertainment Group

Spackman Entertainment Group said Monday its new film, “Crazy Romance,” sold more than a million tickets within five days of its 2 October release in South Korea, tying the record of 2012 film “A Werewolf Boy,” the highest-grossing South Korean melodrama movie.

“Crazy Romance” grossed more than US$7.6 million in box office revenue and captured 26 percent of South Korea’s box office market share as of Sunday, Spackman said in a filing to SGX.

The film’s estimated total production budget, including prints and advertising costs, was set around 6.7 billion won, or around US$6.0 million, the filing said.

Read more about Spackman Entertainment Group.

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