UPDATE: Singapore stocks to watch Thursday: SGX, F&N, MoneyMax, Venture, SPH REIT, Hiap Seng

Signage at the SGX building on Shenton Way in Singapore; taken October 2018.Signage at the SGX building on Shenton Way in Singapore; taken October 2018.

These are Singapore companies which may be in focus on Thursday, 28 November 2019: Singapore Exchange (SGX), Fraser and Neave (F&N), MoneyMax Financial Services, Venture Corp., SPH REIT, Hiap Seng Engineering and Raffles United.

This article was originally published on Wednesday, 27 November 2019 at 23:40; it has since been updated to add First Sponsor, Ascendas India Trust, Frasers Commercial Trust, Frasers Logistics Trust and an additional item on Hiap Seng Engineering.

Singapore Exchange

Singapore Exchange said Wednesday it would replace the fixed rates for the securities borrowing and lending (SBL) program with variable and more competitive rates, starting from 2 December.

Read more: SGX adds variable rates to securities borrowing and lending program

Singapore Exchange

Singapore Exchange said Wednesday ADM Investor Services Singapore (ADMIS SG) has become a trading and clearing member of the derivatives market, bringing the exchange’s total to 63 trading members and 25 clearing members.

Read more: SGX adds ADM Investor Services as trading and clearing member

First Sponsor

First Sponsor Group’s wholly owned subsidiary FS NL Holdings has sold FS NL Zuidoost Property 15 (NLP15) to 33 percent-owned associated company FSMC NL Property Group for 108.1 million euros (around S$163 million), the Singapore-listed company said Thursday.

Read more: First Sponsor divests Netherlands property to associated company for around S$163 million

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Fraser and Neave

Fraser and Neave’s wholly owned subsidiary F&N Investments (F&NI) subscribed for an additional 4.69 million new shares in Emerald Brewery Myanmar at US$1 each for a total of US$4.69 million, the beverage maker said in a filing to SGX Wednesday.

Read more: Fraser and Neave increases investment in Emerald Brewery Myanmar

Frasers Commercial Trust and Frasers Logistics & Industrial Trust

Frasers Commercial Trust and Frasers Logistics & Industrial Trust separately requested trading halts Thursday pending the release of an announcement.

Read more about Frasers Commercial Trust and Frasers Logistics & Industrial Trust.

MoneyMax Financial Services

MoneyMax Financial Services’ wholly owned subsidiary MoneyMax Credit has obtained two options to purchase two properties at Lucky Plaza from an unrelated party for a total S$18 million, the pawnshop operator said in a filing to SGX Wednesday.

Read more: MoneyMax obtains options to purchase two Lucky Plaza properties

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Venture Corp.

BlackRock ceased to be a substantial shareholder of Venture Corp. after its deemed interest fell to 4.96 percent from 5.2 percent, the asset manager said in a filing to SGX Wednesday.

The decline in interest came after a decrease of 695,720 Venture shares used as collateral, the filing said.

Read more about Venture Corp.

Ascendas India Trust

Ascendas India Trust said Thursday it has issued the 99.47 million new units at S$1.508 each from its private placement, and they will begin trade Thursday.

Read more about Ascendas India Trust.

SPH REIT

SPH REIT said Wednesday it has received in-principle approval for listing on SGX the 156.65 million new units issued at S$1.050 each in a private placement.

Read more about SPH REIT.

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Hiap Seng Engineering

Hiap Seng Engineering requested a suspension of its shares Thursday.

“The company has engaged a financial consultant to undertake a financial position review and viability assessment,” Hiap Seng said in a filing to SGX. “However, at this stage, the board is unable to conclude if the group can operate as a going concern.”

Read more about Hiap Seng Engineering.

Hiap Seng Engineering

Hiap Seng Engineering reported Wednesday its fiscal second quarter net loss narrowed to S$8.51 million from a loss of S$22.30 million in the year-ago period on lower operating costs.

Read more: Hiap Seng Engineering reports fiscal 2Q net loss narrowed

Raffles United

Raffles United said Wednesday SGX has confirmed it has no objections to delisting the company from the exchange.

The announcement followed GATXH Holdings saying that based on the level of acceptances of its S$0.065 a share offer to take Raffles United private, it would exercise its right to compulsorily acquire the remaining shares on or after 16 December, the company said in a filing to SGX.

Read more about Raffles United.

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