UPDATE: Singapore stocks to watch Friday: SGX, Hyflux, GuocoLand, Eagle Hospitality, Oxley, Sabana REIT, JUMBO

CapitaLand Retail China Trust's 51 percent-owned Rock Square mall, located in Guangzhou in China. Credit: CapitaLand Retail China TrustCapitaLand Retail China Trust's 51 percent-owned Rock Square mall, located in Guangzhou in China. Credit: CapitaLand Retail China Trust

These are Singapore companies which may be in focus on Friday, 25 October 2019: Singapore Exchange, Hyflux, GuocoLand, Eagle Hospitality Trust, Oxley Holdings, property, Sabana Shari’ah Compliant Industrial REIT, Ascendas India Trust, Sasseur REIT, PACC Offshore Services Holdings (POSH), Ezion, JUMBO Group, Lian Beng and OUE Lippo Healthcare.

This article was originally published on Friday, 25 October 2019 at 2:45 A.M. SGT; it has since been updated to include Great Eastern, CapitaLand Retail China Trust, Yanlord Land, Perennial Real Estate, United Engineers, Mapletree Commercial Trust, ESR-REIT, Citic Envirotech and Sakae Holdings.

Singapore Exchange

Singapore Exchange reported Thursday its fiscal first quarter net profit climbed 25 percent on-year to S$114 million as revenue increased across all four major business segments.

Read more: Singapore Exchange reports fiscal 1Q net profit climbed 25 percent

Hyflux

U.A.E.-based infrastructure player Utico FZC said Thursday it would lower its bid for Hyflux to S$200 million to the senior unsecured working group of creditors and a S$100 million shareholder loan if a restructuring agreement isn’t signed by early next week.

Read more: Utico says to lower bid for Hyflux if deal isn’t signed by next week

Great Eastern

Great Eastern Holdings reported Friday its third quarter net profit fell 4 percent on-year to S$205.1 million as investment income fell.

Read more: Great Eastern reports 3Q19 net profit fell 4 percent

Yanlord Land

Yanlord Land has launched a mandatory conditional offer for United Engineers’ (UEL) shares after acquiring stakes in a subsidiary from Perennial UW and Heng Yue Holdings, the Chinese property developer said in a filing to SGX Friday.

Read more: Yanlord Land launches mandatory offer for UEL after stake rises to 51 percent

GuocoLand

GuocoLand reported Thursday its fiscal first quarter net profit climbed 61 percent on-year to S$42.10 million, mainly on higher progressive sales recognition from the Martin Modern project.

Read more: GuocoLand reports fiscal 1Q net profit climbed 61 percent

CapitaLand Retail China Trust

CapitaLand Retail China Trust reported Friday its third quarter net property income increased 11.9 percent on-year to S$41.11 million on higher organic growth from existing malls and the acquisition of three malls earlier this year. The results beat a Daiwa forecast.

Read more: CapitaLand Retail China Trust reports 3Q19 net property income rose 12 percent, beating Daiwa forecast

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Eagle Hospitality Trust

Eagle Hospitality Trust rebutted Thursday claims in an Edge Singapore article that the Queen Mary, one of its 18 U.S. hospitality properties, has fallen into structural disrepair and could be found in default.

Read more: Eagle Hospitality Trust rebuts claims its Queen Mary property is in disrepair

Oxley Holdings

Oxley Holdings said Thursday its wholly owned subsidiary Oxley Docklands Quay Two has completed the sale of No.4 and No.5 Dublin Landings, in Dublin, Ireland, to the Central Bank of Ireland.

The final sale prices were at 98.6 million euros and 106.5 million euros, respectively, with the consideration received from the purchaser, Oxley said in a filing to SGX.

Read more about Oxley Holdings.

Property

The Paya Lebar Air Base’s planned relocation in 2030 will open the Paya Lebar area for redevelopment not only into the base’s land, but also in existing commercial areas, Singapore Minister of Development Lawrence Wong said Thursday.

Read more: Singapore Minister of Development Wong points to Paya Lebar redevelopment

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Mapletree Commercial Trust

Mapletree Commercial Trust said Friday the 200.89 million new units issued at S$2.28 each in its private placement would begin trading on SGX on Friday.

The new units brings the total number of units to 3.10 billion, the trust said in a filing to SGX.

Read more about Mapletree Commercial Trust.

ESR-REIT

ESR-REIT reported Friday its third-quarter net profit jumped 101.1 percent on-year to S$45.3 million on the acquisition of Viva Trust’s nine properties, the leasing of the 30 Marsiling property after completing an asset enhancement in January and rental escalations in the existing portfolio.

Read more: ESR-REIT reports 3Q19 net property income more than doubled after Viva Trust merger

Citic Envirotech

Citic Envirotech reported Thursday a third quarter net loss of S$4.0 million, from a year-earlier net profit of S$23.86 million, on higher expenses and a lower contribution from the engineering segment.

Read more: Citic Envirotech swings to 3Q19 net loss on lower contributions from engineering business

Sabana REIT

Sabana Shari’ah Compliant Industrial REIT reported Thursday its third quarter net property income increased 10.1 percent on-year to S$13.91 million, mainly on higher contributions from some multi-tenanted properties on improved occupancies.

Read more: Sabana REIT reports 3Q19 net property income increased 10 percent

Ascendas India Trust

Ascendas India Trust reported Thursday its fiscal second quarter net property income rose 18 percent on-year to S$39 million, partly due to income from the Anchor Building at ITPB, which was completed in May.

Read more: Ascendas India Trust reports fiscal 2Q net property income rose 18 percent in SGD terms

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Sasseur REIT

Sasseur REIT’s manager said Thursday that its wholly owned subsidiary, Hefei Sasseur Commercial Management, or Sasseur Hefei, has reached a settlement with Zhongjian Sanju No.2 Construction Engineering, or ZS2, in a dispute over construction costs.

Read more: Sasseur REIT’s manager settles claim over Sasseur Hefei construction

PACC Offshore Services Holdings (POSH) and Ezion

PACC Offshore Services Holdings (POSH) said Thursday its joint venture, POSH Terasea (PTPL) would be voluntarily liquidated by creditors after it defaulted on a facility with an outstanding amount of around US$27.6 million.

Read more: UPDATE: POSH Terasea to be voluntarily liquidated after default

JUMBO Group

JUMBO Group opened its fourth NG AH SIO bak kut teh outlet in Taiwan’s Taoyuan City, bringing the total number of outlets in Asia to eight, the Singapore food and beverage group said in a filing to SGX Thursday.

Read more: JUMBO opens fourth NG AH SIO bak kut teh outlet in Taiwan

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Lian Beng Group

Lian Beng Group has obtained a S$173 million contract from Carmel Development to demolish existing buildings and build a condominium development at River Value Close, boosting its order book to a record S$1.6 billion, the construction company said in a filing to SGX.

Read more: Lian Beng obtains S$173 million contract for River Valley Close condo project

Sakae Holdings

Sakae Holdings said Friday that SGX RegCo had rejected its application for an extension of time to hold its annual general meeting for the financial year ended 30 June.

SGX RegCo told Sakae it was of the opinion there were “no extenuating circumstances” for an extension, the sushi restaurateur said in a filing to SGX.

Sakae said the AGM will be held on 29 October.

Read more about Sakae Holdings.

OUE Lippo Healthcare

OUE Lippo Healthcare said Thursday it entered a deal to acquire 70 percent of Wuxi Bohai Hospital, which operates Wuxi Bohai Hospital, for around 9.8 million yuan, or S$1.9 million, from Jiangsu Chang Geng Investment Management, which will retain the remaining 30 percent.

After the deal is completed, OUE Lippo Healthcare will manage and operate the Grade II 100-bed hospital in Wuxi, Jiangsu, and it plans to rename the hospital to Wuxi Lippo Xi Nan Hospital, the company said in a filing to SGX.

Read more about OUE Lippo Healthcare.

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