These are Singapore companies which may be in focus on Friday, 14 November 2019: Singtel, Sembcorp Industries, Fraser and Neave, Old Chang Kee, CapitaLand, Keppel Corp., Chip Eng Seng, Ezion, Sunvic Chemical and Tiong Seng Group.
This article was originally published on Friday, 15 November 2019 at 12:52 A.M. SGT; it has since been updated to include Mapletree Commercial Trust, Sheng Siong Group, OUE and Sakae Holdings.
Singtel reported Thursday its fiscal second quarter swung to a net loss of S$668.1 million from a year-ago net profit of S$667.2 million due to an exceptional item related to Airtel.
Sembcorp Industries reports third quarter net profit fell 13 percent on-year to S$71 million as the energy segment’s contributions fell and the marine unit posted losses.
Fraser and Neave
Fraser and Neave reported Thursday its fiscal full year net profit increased 23.5 percent on-year to S$152.56 million on higher soft drink and dairy sales, favorable input costs, contributions from newly acquired businesses and a higher profit share from Vietnam-based Vinamilk.
OUE reported Thursday its third quarter net profit surged to S$124.1 million from S$2.1 million in the year-ago period on a one-off non-cash gain of S$90.9 million after the merger of OUE Commercial Trust and OUE Hospitality Trust.
Mapletree Commercial Trust
Mapletree Commercial Trust said Friday the 205.59 million new units issued at S$2.24 each under its preferential offering will begin trading on SGX Friday.
The new units brought the trust’s total number of units to 3.30 billion, Mapletree Commercial Trust said in a filing to SGX.
Read more about Mapletree Commercial Trust.
Old Chang Kee
Iconic Singapore curry puff maker Old Chang Kee reported Thursday its fiscal second quarter income attributable to the company’s owners fell 9.4 percent on-year to S$969,000 as revenue from retail outlets declined and margins fell.
Sakae Holdings reported Thursday its fiscal first quarter net loss widened to S$831,000 from S$366,000 in the year-ago period as the sushi chain worked to streamline its operations.
CapitaLand said Thursday its wholly owned Singapore subsidiary AIGP2 Chennai 1 has subscribed for 254,630 shares in Radial IT Park Pte. Ltd. (RITPPL), which is wholly owned by CapitaLand, for 4,320 Indian rupees (around S$83) a share, or a total 1.10 billion rupees (around S$21.1 million).
India-based RITPPL is mainly engaged in developing and leasing IT parks in Tamil Nadu, India, and is currently developing an IT park of 2.49 million square feet in two phases, CapitaLand said in a filing to SGX. The equity contribution is for project development expenses, it added.
Keppel Corp. said Thursday the divestment of Keppel Telecommunications & Transportation’s entire interests in Keppel Logistics (Foshan) and Keppel Logistics (Hong Kong) to Sinoway Shipping has been completed.
Sheng Siong Group’s wholly owned subsidiary Sheng Siong Supermarket has entered a deal to acquire the property at Block 118 Aljunied Avenue 2 #01-100 from Jelita Property for S$29.5 million, the supermarket operator said in a filing to SGX Friday.
Chip Eng Seng
Chip Eng Seng said Thursday it has completed its investment in Amdon Consulting and via its wholly owned subsidiary, CES Edutech, now holds 38 percent of Amdon, making it an associated company.
Ezion’s indirect wholly owned subsidiary ES Indonesia (ESIPL) entered a deal to divest its 49 percent stake in PT Pelita Bara Samudera (PT PBS) to PT Karya Pilar Sukses for US$2.05 million, the Singapore-based company said in a filing to SGX Thursday.
Sunvic Chemical Holdings
Sunvic Chemical Holdings said Thursday Executive Director and CEO Sun Xiao, age 33, is resigning due to deteriorated health issues due to work stress. The resignation will be effective on 8 February 2020, the company said in a filing to SGX.
Sun Xiao has been executive director since 2012 and CEO since 2013, the filing said.
In a separate filing to SGX, Sunvic Chemical summarized a special audit report on letters of demand received by the company’s wholly owned subsidiaries over corporate guarantees given to unrelated parties. The summary included a finding that Sun Xiao had received a verbal request from a Yixing City official, who the CEO has declined to name, to provide a bridging loan to unrelated company Jingsu Donglai, which later defaulted.
The audit committee recommended disciplinary actions against Sun Xiao, which included a fine and/or suspending him or terminating and removing him from certain or all offices and management positions at Sunvic, the filing said.
Tiong Seng Group
Tiong Seng Group said Thursday it signed a research collaboration agreement with Ngee Ann Polytechnic to set up a joint construction-robotics lab to work on applied research and development of industrial-grade robotics for the construction industry.
The newly established Tiong Seng-NP Construction Robotics Lab is expected to work on AI-enabled robotic inspectors for construction sites, Tiong Seng said in a filing to SGX.
“Apart from empowering quality checkers and supervisors with precision robotics to ensure better accuracy and higher quality output, the robotic inspectors will also facilitate consistent inspection procedures across all construction projects,” Tiong Seng said.