Singapore stocks to watch Friday: Dyson, CapitaLand, SPH REIT, ESR-REIT, Accordia Golf, Q&M

These are Singapore companies which may be in focus on Friday, 11 October 2019: Dyson, CapitaLand, SPH REIT, ESR-REIT, Accordia Golf Trust, Q&M Dental, Fortune REIT, CH Offshore, Spackman Entertainment Group and Cheung Woh Technologies.

Dyson and EDB

Vacuum cleaner maker Dyson has ditched its plans to enter the highly competitive electric car market, saying its design wasn’t commercially viable, James Dyson, the company’s chairman and founder, said in an email to employees Thursday.

CapitaLand

CapitaLand priced S$500 million fixed-rate perpetual notes at 3.65 percent, with the issue date set for 17 October, the property developer said in a filing to SGX Thursday.

SPH REIT

SPH REIT reported Thursday its fiscal fourth quarter net property income rose 11.8 percent on-year to S$45.81 million, mainly on contributions from The Rail Mall and Figtree Grove Shopping Centre.

ESR-REIT

ESR-REIT’s preferential offering of 98.12 million new units received lukewarm interest for acceptances, but stronger demand for excess applications, leading to demand for 212.5 percent of the units on offer.

Accordia Golf Trust

Accordia Golf Trust reported Thursday the number of players on its 88 golf courses in September rose 12.2 percent on-year and 1.79 percent on-month to 521,068.

CapitaLand

CapitaLand’s wholly owned subsidiary Vibrant Coral Overseas acquired the 10 percent of Somerset Central TD, or SCTD, it didn’t already own for 29.24 billion Vietnamese dong, or around S$1.7 million, the property developer said in a filing to SGX Thursday.

Vietnam-based SCTD, which has become a wholly owned subsidiary of CapitaLand, owns the Somerset Central TD Hai Phong City property in Vietnam, the filing said.

“The acquisition is consistent with CapitaLand’s strategy to strengthen its foothold in Vietnam,” the property developer said.

Q&M Dental

Q&M Dental Group (Singapore)’s subsidiary Q&M Aidite International (QMAI) has entered a deal to sell part of its 36 percent stake in Aidite (Qinhuangdao) Technology for S$49 million, the dental chain operator said in a filing to SGX Thursday.

Fortune REIT

Fortune REIT units will be suspended from trade on Friday after the final day of trade on Thursday, the REIT said in a filing to SGX Thursday.

The units’ delisting from the Singapore Exchange is expected to take place on 21 October, the filing said.

CH Offshore

CH Offshore said Thursday its chief financial officer, Wong Soo Pin, tendered her resignation, with her last day of service set for 1 November.

She left to attend to a personal matter, CH Offshore said in a filing to SGX, adding the company would search for a suitable replacement.

Spackman Entertainment Group

Spackman Entertainment Group reported Thursday its romantic comedy film, “Crazy Romance,” passed the breakeven point after selling 1.5 million tickets within eight days of its 2 October wide release in South Korea.

The film’s gross box office revenue has topped US$10.7 million as of Wednesday, Spackman said in a filing to SGX.

Cheung Woh Technologies

Cheung Woh Technologies said Thursday CEO Law Kung Ying planned to retire, effective 28 February 2020, with Law Kung Ming to take over as CEO on 29 February 2020.

Law Kung Ming is currently managing director of Cheung Woh Technologies (Malaysia) and an executive director of the company, Cheung Woh Technologies said in a filing to SGX.

Law Kung Ying will relinquish his position as managing director, but will remain chairman until the annual general meeting, the filing said.

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