UPDATE: Singapore stocks to watch Tuesday: OUE, KIT, Chip Eng Seng, Lian Beng, No Signboard, TEE Land

The OUE Downtown building in Signapore’s central business district. Credit: Shenton WireThe OUE Downtown building in Signapore’s central business district. Credit: Shenton Wire

These are Singapore companies which may be in focus on Tuesday, 14 October 2019: OUE, Keppel Infrastructure Trust, Chip Eng Seng, Lian Beng, No Signboard, Pine Capital, TEE Land, Y Ventures and Spackman Entertainment.

This article was originally published on Tuesday, 15 October 2019 at 12:53 A.M. SGT; it has since been updated to add Keppel DC REIT.

OUE

OUE has set its succession plan, with Executive Chairman Stephen Riady to also become CEO at the start of 2020 as current CEO Thio Gim Hock will step down at year-end after 11 years in the role, the property developer said in a filing to SGX Monday.

Read more: OUE sets succession plan, with Riady to become CEO

Keppel Infrastructure Trust

Keppel Infrastructure Trust reported Monday it swung to a net profit after tax of S$3.74 million for the third quarter, from a year ago loss of S$420,000, mainly on contributions from newly acquired Ixom.

Read more: Keppel Infrastructure Trust swings to 3Q19 net profit

Chip Eng Seng

Chip Eng Seng’s renounceable rights issue of 156.50 million shares met with weak demand, with the company saying Monday it received valid acceptances for 51.04 percent of the shares available, with another 2.11 percent were taken up in excess applications.

Read more: Chip Eng Seng rights issue meets thin demand

Chip Eng Seng

Chip Eng Seng’s wholly owned subsidiary CES Hotels (Maldives) has entered a joint venture with Tropical Developments (TDPL), which is an affiliate of Amin Construction, to acquire a leasehold interest in a lagoon in the Maldives, the Singapore company said in a filing to SGX Monday.

Read more: Chip Eng Seng enters JV to acquire Maldives lagoon for resort project

Manulife US REIT

Manulife US REIT’s preferential offering was oversubscribed, attracting acceptances and excess applications for 147 percent of the total 72.86 million new units offered at US$0.86 each, the REIT said in a filing to SGX Tuesday.

Read more: Manulife US REIT preferential offering meets solid demand

Keppel DC REIT

Keppel DC REIT said Tuesday the 141.99 million new units issued at S$1.71 each in its preferential offering will begin trading Tuesday.

The offering was on the basis of 105 new units for every 1,000 existing units, the REIT said in a filing to SGX.

The unit price closed at S$2.02, up 1.51 percent, on Monday.

Read more about Keppel DC REIT.

Lian Beng

Lian Beng Group reported Monday its fiscal first quarter net profit increased 21.3 percent on-year to S$7.4 million, mainly on a higher contribution from the construction segment.

Read more: Lian Beng reports fiscal 1Q net profit rose 21 percent

No Signboard

Iconic Singapore chili crab restaurateur No Signboard Holdings said Monday it opened its first overseas seafood outlet in Shanghai, China, bringing its total to four outlets.

Read more: No Signboard opens first overseas outlet in Shanghai

Pine Capital

Pine Capital’s subsidiary, Advance Capital Partners Assets Management (ACPAM), has started legal proceedings against two of its former directors, Wang Meng and Pan Ki Ro, alleging breaches of statutory and fiduciary duties, the company said in a filing to SGX Monday.

Shenton Wire is unable to contact Wang and Pan for comment.

Read more: Pine Capital subsidiary starts legal proceedings against two former directors

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TEE Land

TEE Land reported Monday its fiscal first quarter net loss narrowed to S$1.69 million from S$3.08 million in the year-ago quarter, on a higher gross margin.

Read more: TEE Land reports fiscal 1Q net loss narrowed

Y Ventures

In response to a query from SGX, Y Ventures said Monday it wasn’t aware of any information not previously announced to explain the sharp drop in its share price.

The stock tumbled 18.84 percent Monday to end at S$0.112 as selling emerged in the afternoon session on strong traded volume.

Read more: Y Ventures: Not aware of reason for share price drop

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Spackman Entertainment Group

Spackman Entertainment Group said Monday its new film, “Crazy Romance,” has sold more than 2 million tickets since its 2 October wide release in South Korea, accumulating box office revenue of US$14.8 million as of Sunday.

The estimated total production budget, including prints and advertising costs, was set around 6.7 billion won, or around US$6 million, Spackman said in its latest update on the film’s box office performance, which was filed to SGX.

Read more about Spackman Entertainment Group.

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