UPDATE: Singapore stocks to watch Thursday: Keppel REIT, Soilbuild REIT, AA REIT, Accordia Golf, Sunpower

Singapore’s VivoCity mall, owned by Mapletree Commercial TrustSingapore’s VivoCity mall, owned by Mapletree Commercial Trust Note: Photo taken pre-Covid

These are Singapore companies which may be in focus on Thursday, 17 October 2019: Keppel REIT, Soilbuild Business Space REIT, AIMS APAC REIT, Accordia Golf Trust, Sunpower Group, Qian Hu, United Hampshire US REIT, SLB Development, Lian Beng and AsiaPhos.

This article was originally published on Thursday, 17 October 2019 at 1:08 A.M. SGT; it has since been updated to add Keppel Pacific Oak US REIT and Mapletree Commercial Trust.

Mapletree Commercial Trust

Mapletree Commercial Trust’s private placement 200.89 million new units priced at S$2.28, the top of its S$2.24 to S$2.28 range, and was 7.0 times covered, the REIT said in a filing to SGX Thursday.

Read more: Mapletree Commercial Trust private placement meets strong demand

Keppel Pacific Oak US REIT

Keppel Pacific Oak US REIT has launched a private placement of 104.29 million new units at US$0.701 to US$0.725 each to raise at least US$73.1 million, the REIT said in a filing to SGX Thursday.

Read more: Keppel Pacific Oak US REIT launches private placement to raise US$73 million

Keppel REIT

Keppel REIT reported Wednesday its third quarter net property income increased 17.6 percent on-year to S$33.17 million. The results missed Daiwa’s forecasts slightly.

Read more: Keppel REIT 3Q19 net property income rose nearly 18 percent, but missed Daiwa’s forecast slightly

Soilbuild Business Space REIT

Soilbuild Business Space REIT reported Wednesday its third quarter net property income rose 4.5 percent on-year to S$16.95 million on contributions from two Australia properties acquired in October 2018 and on converting Solaris into a multi-tenanted property in August 2018.

Read more: Soilbuild REIT reports 3Q19 net property income rose nearly 5 percent


AIMS Financial Group, the sponsor of AIMS APAC REIT, exercised a call option to acquire around 70.3 million units of the REIT held by AMP Capital Investors and then held a secondary placement of the units, AIMS said in a filing to SGX Wednesday.

Read more: AIMS APAC REIT sponsor completes placement of 70 million units

Accordia Golf Trust

Accordia Golf Trust said Wednesday three of its golf courses were closed for inspection and repair in the wake of Typhoon Hagibis, which caused heavy rain and flash flooding in the region.

Read more: Accordia Golf Trust says three courses closed for repair after typhoon strikes Japan

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United Hampshire US REIT

United Hampshire US REIT’s sponsors will try to raise up to US$400 million in the Singapore market and they are seeking cornerstone investors, the Business Times reported Wednesday.

Read the article here.

Sunpower Group

Sunpower Group has landed a series of manufacturing and services contracts valued at a total 71.7 million yuan (S$13.86 million) from strategic partner, Wanhua Chemical Group, the Singapore-listed company said in a filing to SGX Wednesday.

Read more: Sunpower lands around 72 million yuan in contracts from Wanhua Chemical

SLB Development and Lian Beng

SLB Development said Wednesday it has completed the sale of its wholly owned subsidiary Wellprime, which owns the property at 50 Lorong 21 Geylang in Singapore, to Jun Yuan Holdings for S$13.5 million.

SLB Development is a subsidiary of Lian Beng.

Read more about SLB Development and Lian Beng.

Qian Hu

Ornamental fish breeder Qian Hu reported Wednesday its third quarter net profit surged 72 percent on-year to S$301,000, despite the long-running dragon fish price war pushing down revenue, on better sales of higher margin edible fish.

Read more: Qian Hu 3Q19 net profit jumps 72 percent despite dragon fish price war weighing revenue


AsiaPhos said Wednesday its wholly owned subsidiary Mianzhu Norwest received a notice of appeal, issued the Deyang Intermediate Court, which was filed by 12 of 20 former employees who had resigned in 2018.

In September, AsiaPhos said it had received notification that the claims from the 20 former employees, who were seeking severance pay amounting to 1.844 million yuan, or around S$373,000, had been dismissed after a hearing in the Mianzhu Municipal People’s Court and follow-up Mediation.

Read more about AsiaPhos.

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