Singapore stocks to watch Thursday: Citic Envirotech, CSE Global, Hyflux, First REIT, Lendlease Global REIT

Exterior of 313@Somerset, a retail property located on Singapore's Orchard Road shopping belt. It is part of the Lendlease Global Commercial REIT portfolio. Credit: Lendlease Global Commercial Trust ManagementExterior of 313@Somerset, a retail property located on Singapore's Orchard Road shopping belt. It is part of the Lendlease Global Commercial REIT portfolio. Credit: Lendlease Global Commercial Trust Management

These are Singapore companies which may be in focus on Thursday, 7 November 2019: Citic Envirotech, CSE Global, Hyflux, First REIT, Lendlease Global Commercial REIT, Cordlife Group, Hiap Seng Engineering and Gallant Venture.

Citic Envirotech

CKM (Cayman) has made a pre-conditional exit offer of S$0.55 a share in cash for all of Citic Envirotech’s shares in connection with a proposed voluntary delisting of the waste-water treatment company, the offerer said in a filing to SGX Wednesday.

Read more: Citic Envirotech gets pre-conditional exit offer to delist company

CSE Global

CSE Global reported Wednesday its third quarter net profit rose 17.8 percent on-year to S$5.72 million on improvement in core operations, contributions from the Volta acquisitions and gain on the divestment of subsidiary S3ID Group.

Read more: CSE Global reported 3Q19 net profit climbed 18 percent

Hyflux

Hyflux said Wednesday it remained in negotiations on the key commercial terms for any restructuring agreement it might sign on Utico’s proposed investment.

Read more: Hyflux: Still in talks with Utico on key terms for restructuring deal

First REIT

First REIT reported Wednesday its third quarter net property income fell 2.5 percent on-year to S$28.22 million on higher property expenses for the South Korean and Indonesian properties.

Read more: First REIT reports 3Q19 net property income fell nearly 3 percent

Lendlease Global Commercial REIT

BlackRock has become a substantial unitholder in Lendlease Global Commercial REIT, with its deemed interest rising to 5.01 percent from 4.99 percent, the private equity company said in a filing to SGX Wednesday.

The increased interest was due to the acquisition of 223,700 units at S$212,515 in a market transaction, the filing said.

Read more about Lendlease Global Commercial REIT.

Cordlife Group

Cordlife Group said Wednesday its Indonesia subsidiary, PT Cordlife Persada, has become the first Indonesian cord-blood bank to achieve AABB accreditation.

Cordlife currently has the largest cord-blood bank network in Asia, with seven facilities across six Asian countries, the filing said, adding that all of its facilities are now fully accredited by AABB.

Read more about Cordlife.

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Hiap Seng Engineering

Hiap Seng Engineering warned Wednesday it expected to report net losses for its fiscal second quarter and fiscal first half ended 30 September.

Read more about Hiap Seng Engineering.

Gallant Venture

Gallant Venture said Wednesday it has divested its entire 100 percent shareholding in PT Bumi Bintan Abadi to PT Aditama Perkasa Sukses and PT Perkasa Karya Bersama for 5.13 billion rupiah, or around S$500,000.

Read more about Gallant Venture.

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