The stocks to watch column will go on hiatus from 6 December 2019.
These are Singapore companies which may be in focus on Monday, 2 December 2019: Thai Beverage, Lendlease Global Commercial REIT, Oxley Holdings, United Engineers (UEL), Ascendas REIT, CapitaLand Mall Trust, DBS, Temasek, OCBC, Great Eastern, No Signboard, Keppel REIT, TEE International, Uni-Asia Group, Raffles Education and MindChamps PreSchool.
This item was originally published on Friday, 29 November 2019 at 23:13 SGT; it has since been updated to include Frasers Commercial Trust, Frasers Logistics & Industrial Trust, SPH REIT and SunMoon Food.
Frasers Commercial Trust and Frasers Logistics & Industrial Trust
Frasers Logistics & Industrial Trust (FLT) and Frasers Commercial Trust (FCOT) announced Monday they plan to merge in a S$1.54 billion deal, creating a diversified S$5.7 billion portfolio of industrial, office, business park and commercial assets across Asia Pacific, Europe and the U.K.
Frasers Logistics & Industrial Trust
Frasers Logistics & Industrial Trust said Monday it has completed the acquisition of a 93.1 percent stake in GUMES Verwaltung Objekt BielefeldSennestadt GmbH, which owns the B+S GmbH Logistik Facility, for 22.1 million euros, or around S$34.1 million.
The purchase consideration was fully funded by debt, the trust said in a filing to SGX.
Thai Beverage is evaluating strategic proposals, including a potential listing of its beer business, the Chang beer maker said in a filing to SGX after the exchange queried unusual trading activity in its shares.
Lendlease Global Commercial REIT
BlackRock topped up its stake in Lendlease Global Commercial REIT, becoming a substantial unitholder again, the asset manager said in a filing to SGX Friday.
Oxley Holdings and United Engineers
Oxley Holdings said Friday it sold its entire 9.19 percent stake, of 58.57 million shares, in United Engineers (UEL) at S$2.70 each, or S$158.15 million. The shares were sold in acceptance of a take-over offer for United Engineers, the filing said.
In a separate filing to SGX, United Engineers said Ching Chiat Kwong, who holds 42 percent of Oxley Holdings and was deemed interested in Oxley’s UEL stake, has also disposed of his 1.34 percent directly held stake, or 8.57 million shares, at S$2.70 a share.
Low See Ching, who holds 28.06 percent of Oxley Holdings, also sold his 2.21 percent direct stake in UEL, or 14.10 million shares, for S$38.07 million, or S$2.70 a share, it said in separate filings to SGX.
State Street Corp. has become a substantial unitholder of Ascendas REIT, with its direct interest rising to 5.01 percent from 4.99 percent, the asset manager said in a filing to SGX Friday.
CapitaLand Mall Trust, DBS and Temasek
Temasek Holdings’ deemed interest in CapitaLand Mall Trust rose to 30.01 percent from 29.98 percent after DBS Bank acquired 775,000 units for S$1.91 million, the Singapore state-owned investment company said in a filing to SGX Friday.
DBS Group Holdings is an independently managed Temasek portfolio company, the filing said.
OCBC and Great Eastern
OCBC said Friday it had completed the acquisition of Pacific Mutual Fund (PMF) from Lion Global Investors and Koperasi Angkatan Tentera Malaysia.
PMF has become a wholly owned subsidiary of Bank of Singapore, which is a wholly owned subsidiary of OCBC, the bank said in a filing to SGX.
In a separate filing to SGX, Great Eastern Holdings said that after its subsidiary Lion Global Investors sold its entire 70 percent stake in PMF to Bank of Singapore, PMF ceased to be a subsidiary.
SPH REIT said Monday it has issued 156.65 million new units at S$1.05 each under its private placement, and they will begin trading Monday.
No Signboard Holdings reported Friday its fiscal year net loss widened to S$4.85 million from S$2.32 million in the previous year on lower revenue from the namesake seafood restaurants and from the beer operations.
Keppel REIT said Friday it has completed the sale of the Bugis Junction Towers property in Singapore for S$547.7 million.
The sale price was adjusted upward from S$547.5 million due to an increase in leased area after the divestment was announced, the REIT said in a filing to SGX.
TEE International said Friday Bertie Cheng Shao Shiong, age 82, has retired as chairman and independent director, effective Friday.
Uni-Asia Group said Friday its Hong Kong office development project at 18-20 Tai Chun Road in Tsuen Wan (the T18 Project) had a fire incident which began on Thursday evening and was extinguished on Friday.
“The company is currently investigating the cause of the fire incident and assessing the extent of the damage to the construction site and impact on the T18 Project and the group’s financial performance, if any, taking into account, amongst other things, insurance coverage over the construction site,” Uni-Asia said in a filing to SGX. “There were no injuries arising from the fire incident.”
Uni-Asia said it has an effective 2.5 percent interest in the T18 Project.
Raffles Education said Friday it has completed the disposal of a Sydney, Australia, property to Wentruth for A$80 million, or around S$74.74 million.
MindChamps PreSchool said Friday it has completed the acquisition of 50 percent of MindChamps PreSchool @ Concorde Hotel (Orchard), as well as completing a subscription to its preference shares.
First Alverstone Capital said Saturday it disposed of 19 million SunMoon Food shares in an off-market transaction for S$821,543, taking its direct interest down to 7.87 percent from 10.29 percent previously.
Selena Cheng Koh Min and her husband, Gary Loh Hock Chuan, own First Alverstone Capital, and their deemed interest in SunMoon Food has also fallen to 7.87 percent from 10.29 percent, Loh said in separate filings to SGX Saturday.