UDPATE: Singapore stocks to watch Thursday: Temasek, YZJ, ComfortDelGro, SPH, Olam, Keppel, Yoma, Eagle Hospitality

ComfortDelGro taxi in SingaporeComfortDelGro taxi in Singapore

These are Singapore companies which may be in focus on Thursday, 14 November 2019: Temasek Holdings, Yangzijiang Shipbuilding, ComfortDelGro, Olam International, Keppel Corp., property, ESR-REIT, Hyflux, Jardine Cycle & Carriage, Banyan Tree Holdings, Eagle Hospitality Trust, Spackman Entertainment, Accordia Golf Trust and Koh Brothers.

This article was originally published on Thursday, 14 November 2019 at 1:00 A.M. SGT; it has been updated to add an item on Singapore Press Holdings and two items on Yoma Strategic. The item on Temasek has since been updated to reflect the bonds’ pricing.

Temasek Holdings

Temasek Holdings’ wholly owned subsidiary Temasek Financial priced 500 million euros of 12-year bonds at 0.50 percent and 500 million euros of 30-year bonds at 1.25 percent amid strong demand, Singapore’s state-owned investment company said in a filing to SGX Thursday.

Read more: Temasek prices 500M euros of 12-year bonds and 500M euros of 30-year bonds amid strong demand

Yangzijiang Shipbuilding

Yangzijiang Shipbuilding reported Wednesday its third quarter net profit fell 10 percent on-year to 702.26 million yuan on wider losses on associated companies and joint ventures.

Read more: Yangzijiang reports 3Q19 net profit fell 10 percent


ComfortDelGro reported Wednesday its third quarter net profit fell 10.8 percent on-year to S$70 million on lower taxi revenue and unfavorable currency translations.

Read more: ComfortDelGro reports 3Q19 net profit fell 11 percent on lower taxi revenue

Singapore Press Holdings

Singapore Press Holdings’ indirect wholly owned subsidiary Straits Nine has entered a deal to acquire a purpose-built student accommodation (PBSA) property in Bremen, Germany, from Liberty Living (Galileo Residenz) for 15.56 million euros, or around S$23.37 million, the media and property company said Thursday.

Read more: UPDATE: SPH enters deal to acquire German student housing property for around 16 million euros

Olam International

Olam International reported Wednesday its third quarter net profit fell 1.5 percent on-year to S$20.37 million, hit by changes to accounting for leases.

Read more: Olam reports 3Q19 net profit fell nearly 2 percent

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Singapore’s The Arcade property will be put up for a collective sale via tender for a reserve price of S$780 million, Colliers International said Wednesday.

Read more: The Arcade property to be put on block for S$780 million

Keppel Corp.

Keppel Capital’s wholly owned subsidiary KC Management One has entered a deal to acquire 50 percent of Pierfront Capital Fund Management from Pierfront Capital Mezzanine Fund (PCMF) for US$7.8 million, or around S$10.8 million, in cash, Keppel said Wednesday.

Read more: Keppel Capital to acquire 50 percent of Pierfront Capital Fund Management

Yoma Strategic

Ayala Corp. will invest up to US$237.5 million to take an up to 20 percent stake in each of Yoma Strategic and its affiliated company, Yangon-listed First Myanmar Investment (FMI), Yoma Strategic said in a filing to SGX Thursday.

Read more: UPDATE: Ayala Corp to take 20 percent stake in Yoma Strategic and First Myanmar Investment

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Yoma Strategic

Yoma Strategic Holdings reported Thursday its fiscal second quarter swung to a net loss of US$43.33 million from a year-earlier net profit of US$29.88 million as property development revenue fell sharply.

Read more: Yoma Strategic reports fiscal 2Q swung to net loss as property development revenue dropped

ESR-REIT and Hyflux

ESR-REIT said Wednesday it has drawn down the bank guarantees provided by tenant Hyflux Membrane Manufacturing (S) under its lease agreement for the 8 Tuas South Lane property.

“As the bank guarantees are expiring soon, ESR-REIT has drawn down the bank guarantees and will apply the proceeds towards Hyflux Membrane’s contractual obligations under the lease agreements,” the REIT said in a filing to SGX.

Under the lease agreements, ESR-REIT hold security deposits equivalent to three months of rental in the form of bank guarantees of around S$2.1 million, the filing said.

Read more about ESR-REIT and Hyflux.

Jardine Cycle & Carriage

Jardine Cycle & Carriage said Wednesday  its tender offer for shares of Vietnam-based Refrigeration Electrical Engineering (REE) has resulted in the acquisition of 12.6 million shares at 45,000 dong a share for a total consideration of 567.2 billion dong, or around US$24.4 million.

That brought Jardine C&C’s stake in REE to 28.97 percent from 24.90 percent previously, the company said in a filing to SGX.

Read more about Jarine Cycle & Carriage.

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Banyan Tree Holdings

Banyan Tree Holdings said Kuan Chiet has ceased to be chief financial officer, effective Wednesday.

Kuan Chiet will return to the group’s largest operation in Phuket to head a new property leasing unit, Banyan Tree said in a filing to SGX Wednesday.

Read more about Banyan Tree Holdings.

Eagle Hospitality Trust

Eagle Hospitality Trust reported Wednesday its third quarter net property income came in at US$20.07 million, 2.7 percent below the forecast from its IPO prospectus.

Read more: Eagle Hospitality Trust reports 3Q19 net property income missed IPO forecast on hurricane

Spackman Entertainment

Spackman Entertainment Group reported Wednesday a third quarter net loss of US$790,000, narrowing from a US$925,000 net loss in the year-ago period as higher revenue offset higher costs.

Read more: Spackman Entertainment reports 3Q19 net loss narrowed amid higher revenue

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Accordia Golf Trust

Accordia Golf Trust reported Wednesday its fiscal second quarter net profit surged 250.7 percent on-year to 1.22 billion yen on improved performance of the golf courses.

Read more: Accordia Golf Trust reports fiscal 2Q net profit more than tripled

Koh Brothers

Koh Brothers said Wednesday its indirect wholly owned subsidiary G & W Industrial has sold its 35 percent stake in Hi Con (S) for S$460,000.

Read more about Koh Brothers.

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