UPDATE: Singapore stocks to watch Tuesday: OCBC, CapitaLand, POSH, Challenger, Koufu, Vividthree

OCBC branch in SingaporeOCBC branch in Singapore

These are Singapore companies which may be in focus on Tuesday, 5 November 2019: PACC Offshore Services Holdings (POSH), China Everbright Water, Challenger Technologies, Koufu, Vividthree, Synagie and Asiatravel.com.

This article was originally published on Monday, 4 November 2019 at 23:49 SGT; it has since been updated to include OCBC, CapitaLand, AIMS APAC REIT, Singapore Press Holdings and Spackman Entertainment.

OCBC

OCBC reported Tuesday its third-quarter net profit fell 6 percent on-year to S$1.17 billion due to a one-time charge, even as both net interest income and non-interest income rose.

Read more: UPDATE: OCBC reports 3Q19 net profit fell 6 percent on one-off charge at Indonesian subsidiary

CapitaLand

CapitaLand reported Tuesday its third quarter net profit fell 7.8 percent on-year to S$333.93 million, mainly on lower portfolio gains, partly offset by higher operating profit.

Read more: CapitaLand reports 3Q19 net profit fell 8 percent

PACC Offshore Services Holdings, or POSH

Quetzal Capital said Monday it has made a conditional offer to acquire all of PACC Offshore Services Holdings (POSH) for S$0.215 a share, marking a 97.2 percent premium over the stock’s closing price on 30 October.

POSH requested the trading halt on its shares be lifted.

Read more: Kuok-tied Quetzal Capital makes bid to acquire PACC Offshore Services

Follow Shenton Wire on Telegram to receive alerts on your phone

PACC Offshore Services Holdings, or POSH

PACC Offshore Services Holdings, or POSH, reported Monday its third quarter net loss widened to US$40.43 million, from US$5.34 million in the year-ago period, mainly on impairments related to the POSH Terasea joint venture.

Read more: POSH reports 3Q19 net loss widened substantially

AIMS APAC REIT

AIMS APAC REIT reported Tuesday its fiscal second quarter net property income increased 16.6 percent on-year to S$22.49 million on higher gross revenue after an acquisition and lower property expenses.

Read more: AIMS APAC REIT reports fiscal 2Q net property income climbed 17 percent

Singapore Press Holdings

Singapore Press Holdings said Tuesday it priced an offering of S$300 million subordinated perpetual securities at 4 percent, with the bonds to be issued under its S$1 billion multicurrency debt program.

Read more: Singapore Press Holdings prices S$300 million perpetual securities

China Everbright Water

China Everbright Water landed two waste-water treatment projects in Shandong Province with a total investment of around 396 million yuan (S$76.48 million), the water infrastructure player said in a filing to SGX Monday.

Read more: China Everbright Water lands two waste-water treatment projects in Shandong

Spackman Entertainment

Spackman Entertainment said Tuesday it entered a memorandum of understanding with South Korea-based Sunwoo Produce to collaborate on penetrating new overseas markets with entertainment content and investments.

Read more: Spackman Entertainment enters overseas production tie-up with Sunwoo Produce

Challenger Technologies

Challenger Technologies reported Monday its third quarter profit after tax fell 4 percent on-year to S$4.31 million on higher expenses.

Read more: Challenger Technologies reports 3Q19 profit after tax slipped 4 percent

Follow Shenton Wire on Telegram to receive alerts on your phone

Koufu

Koufu reported Monday its third quarter net profit climbed 52.3 percent on-year to S$7.1 million on stronger contributions from both the outlet and mall management and the F&B retail segments.

Read more: Koufu reports 3Q19 net profit jumped 52 percent on new outlets and organic revenue growth

Vividthree

Lee Chun Fun has ceased to be a substantial shareholder of Vividthree, with her direct interest falling to 4.89 percent from 10.11 percent previously, it said in a filing to SGX Monday.

The decline in Lee’s interest came after the sale of 17.43 million shares in the market at S$2.62 million, the filing said.

In September 2018, Lee had agreed to a 12-month lockup period on her stake.

Read more about Vividthree.

Synagie

Synagie said Monday Enterprise Singapore has appointed the company a partner to work on a project aimed at helping small and medium-sized enterprises internationalize via e-commerce.

Singapore SMEs will get a 70 percent subsidy via a grant from Enterprise Singapore for adopting Synagie’s multi-channel e-commerce platform services, priced at S$20,000 for the first year, Synagie said in a filing to SGX. The platform service includes business advisory, content development, big data analytics, cross-border warehousing and fulfillment, the filing said.

Read more about Synagie.

Follow Shenton Wire on Telegram to receive alerts on your phone

Asiatravel.com

Asiatravel.com said Monday the Singapore Tourism Board has withdrawn its suspension of the company’s travel-agent license as it was unable to meet the criteria for renewal; the company currently doesn’t have a license, Asiatravel.com said in a filing to SGX.

The company added it has submitted an application to SGX for an extension of time to 9 April 2020 to submit a proposal to resume trading in its shares, in line with a moratorium granted by the Singapore court for applying to convene a meeting of its creditors until the same date.

“The company expects to be able to convene a meeting of its scheme creditors and put forward its proposed scheme of arrangement before 9 April 2020 and subsequently seek the approval of its shareholders,” Asiatravel.com said.

Read more about Asiatravel.com.

While you’re here, we’re hoping you can help us out.

Shenton Wire has been providing you with quick news and market analysis. But we need your support to continue to bring you the news you’ve come to expect and to expand our reach beyond Singapore.

Your monthly contribution will directly fund our journalism.

S$2     S$4       S$8

S$18       S$28       S$88


We also accept PayPal contributions



Check your existing account here and sign in to Shenton Wire here.

Contact us about other contribution levels or for corporate subscriptions and article syndication.