Singapore stocks to watch Tuesday: Mapletree Commercial, Sembcorp, Manulife US REIT, Nordic, Accordia Golf

Electricity advertisement for Sembcorp Industries. Note: Photo taken pre-CovidElectricity advertisement for Sembcorp Industries. Note: Photo taken pre-Covid

These are Singapore entities which may be in focus on Tuesday, 12 November 2019: Monetary Authority of Singapore, Mapletree Commercial Trust, NetLink NBN Trust, Sembcorp Industries, Jardine Cycle & Carriage, Manulife US REIT, Vividthree, Nordic Group and Accordia Golf Trust.

Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) announced Monday it set up a US$2 billion program to invest in public-market strategies with a strong green focus.

Read more: MAS sets new US$2 billion green investment program

Mapletree Commercial Trust

Mapletree Commercial Trust’s preferential offering of 205.59 million new units at S$2.24 each met with strong demand, with acceptances and excess applications totaling 145.4 percent of the units available, the trust said in a filing to SGX Monday.

Read more: Mapletree Commercial Trust preferential offering meets strong demand

NetLink NBN Trust

NetLink NBN Trust said Monday it will be supporting TPG Telecom with its 5G trial network across Singapore Science Park 1 and 2, with the trust’s operating arm providing the fiber network infrastructure to connect the 5G mobile base stations.

TPG Telecom will deploy the trial network with better than 99 percent 3.5GHz outdoor coverage across the area by 2020, NetLink NBN said in a filing to SGX.

Read more about NetLink NBN Trust.

Sembcorp Industries

Sembcorp Industries’ wholly owned subsidiary Sembcorp Utilities has completed the acquisition of a 30 percent stake in Sembcorp Gas from Seletar Investments for around S$12.1 million, the company said in a filing to SGX Monday.

Sembcorp Gas has become a wholly owned subsidiary of Sembcorp Utilities, the filing said.

“The deal strengthens Sembcorp’s position as a provider of integrated energy solutions and a major gas player in Singapore,” the company said.

Read more about Sembcorp Industries.

Jardine Cycle & Carriage

Jardine Cycle & Carriage said Monday it submitted a proposal to take 59.1 percent-owned Cycle & Carriage Bintang private via a selective capital reduction and repayment exercise.

Under the proposal, all shareholders of Malaysia-listed CCB, except Jardine C&C, will receive a capital repayment of 90.6 million ringgit, or 2.20 ringgit a share, the company said in a filing to SGX. CCB shares closed at 1.29 ringgit each on 8 November.

Upon cancellation of the acquired CCB shares, CCB will become a wholly owned subsidiary of Jardine C&C, the filing said.

Read more about Jardine C&C.

Manulife US REIT

Manulife US REIT said Monday Jagjit Singh Obhan will step down as chief financial officer, effective 7 January to pursue personal interests.

Read more about Manulife US REIT.

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Sembcorp Industries

Sembcorp Industries said Monday its 90.9 percent-owned joint venture, Sembcorp Xinmin Water, completed the transfer of its municipal water plant to the Housing & Urban-Rural Development Bureau of Xinmin.

In addition, Sembcorp Industries’ wholly owned subsidiary Sembcorp (China) Holding completed the divestment of its 80 percent stake in Sembcorp Lianyungang Water to Lianyungang Shenghai Wastewater Treatment Plant, the company said in a filing to SGX.

The Xinmin municipal water plant and Sembcorp Lianyungang Water have both ceased to be part of Sembcorp Industries, the company said.

Read more about Sembcorp Industries.

Nordic Group

One Singapore offshore and marine services player has managed to keep growing even as the industry has taken a battering in the years since 2014, when oil tumbled off peaks over US$100 a barrel oil to as little as levels around US$26 in 2016.

Read more: Survival of the nimblest? How one Singapore O&M player thrived despite a sector shakeout

Accordia Golf Trust

Accordia Golf Trust reported Monday the number of players on its 88 courses in October dropped 9 percent on-year to 485,575.

Read more: Accordia Golf Trust reports October players dropped 9 percent

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Vividthree reported Monday a fiscal second quarter net profit of S$208,200, swinging from a year-ago net loss of S$456,700, on increased revenue from the completion of post-production works, such as visual effects and computer-generating imagery for film producers.

Read more: Vividthree swings to fiscal 2Q net profit from year-ago loss

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