Singapore stocks to watch Thursday: Mapletree North Asia, Keppel REIT, Sembcorp, F&N, SGX, Eagle H-Trust

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The stocks to watch item will be on hiatus from Friday, 6 December 2019.

These are companies which may be in focus on Thursday, 5 December 2019: Mapletree North Asia Commercial Trust, Keppel REIT, Sembcorp Industries, Circulate Capital, Genting Bhd., Fraser and Neave (F&N), Singapore Exchange (SGX), Eagle Hospitality Trust, Cromwell European REIT, Venture Corp., Straits Trading, Thakral Corp., GuocoLand, Sim Leisure Group and Synagie.

Mapletree North Asia Commercial Trust

Mapletree North Asia Commercial Trust (MNACT) has entered a deal to acquire 98.47 percent of two multi-tenanted office properties in Greater Tokyo, Japan, from its sponsor, Mapletree Investments, for S$482.5 million, or around 37.91 billion yen, the REIT said in a filing to SGX Wednesday.

Read more: Mapletree North Asia Commercial enters deal to acquire two Greater Tokyo office properties for S$483M

Mapletree North Asia Commercial Trust

Mapletree North Asia Commercial Trust (MNACT) warned Wednesday its distribution per unit (DPU) for the six-month period ending 31 March was expected to be “significantly lower” both on-year and on-half due to loss of income from the Festival Walk property in Hong Kong.

Read more: Mapletree North Asia Commercial Trust warns of DPU hit from Festival Walk damage

Keppel REIT

Keppel REIT has obtained an unsecured S$150 million green loan facility from OCBC Bank, the REIT’s second green loan facility after a S$505 million one in June, the REIT said in a filing to SGX Wednesday.

Read more: Keppel REIT lands S$150 million green loan from OCBC

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Sembcorp Industries

Sembcorp Industries’ wholly owned subsidiary Sembcorp Utilities has entered a non-binding deal to acquire the remaining 5.95 percent of Sembcorp Energy India Ltd. (SEIL) it doesn’t already own from its local Indian partner Gayatri Energy Ventures Pte. Ltd. (GEVPL), the utility company said in a filing to SGX Wednesday.

Read more: Sembcorp Industries enters non-binding deal to acquire rest of SEIL it doesn’t already own

Circulate Capital

Singapore-based venture capital fund manager Circulate Capital has launched the Circulate Capital Ocean Fund (CCOF) with US$106 million (S$144 million) at its first closing, marking what may be the first investment fund devoted to addressing plastic waste in Asia.

Read more: Venture capital player Circulate Capital launches US$106M fund for tackling ocean plastic


S&P Global Ratings has cut its long-term issuer credit rating on Genting Bhd. to BBB-plus from A-minus and lowered the rating on its subsidiary, Resorts World Las Vegas, the ratings agency said in a statement Wednesday.

Read more: S&P cuts rating on Genting and Resorts World Las Vegas

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Fraser and Neave

Fraser and Neave said Wednesday its wholly owned subsidiary F&N Foods broke ground on a new Singapore food and beverage facility, slated for completion in late 2021 at a cost of more than S$80 million.

The 375,000 square foot facility will expand F&N Singapore’s production, warehousing and research and development capabilities, and let F&N consolidate most of its Singapore non-alcoholic beverage operations at one site, F&N said in a filing to SGX.

F&N is an associated company of Thai Beverage.

Read more about Fraser and Neave.

Singapore Exchange

Singapore Exchange Regulation (SGX RegCo) and the Centre for Governance, Institutions and Organisations (CGIO) at the National University of Singapore (NUS) Business School said Wednesday their joint review found nearly all listed companies have produced their sustainability reports on a timely basis after reporting became mandatory.

The real estate, healthcare and communications services sectors produced the best-quality reports, while the energy, information technology and utilities sectors scored lower than average, the joint study found.

“Global demand for responsible investing is growing and more corporates are responding to this development by integrating sustainability considerations with business strategy,” Tan Boon Gin, CEO of SGX RegCo, said in the statement. “We are committed to helping our listed companies on their sustainability journey and will utilize this review to continue to work with them on improving their ESG disclosures.”

Read more about Singapore Exchange.

Eagle Hospitality Trust

Eagle Hospitality Trust said Wednesday the City of Long Beach’s auditor would begin an audit of the Queen Mary lease agreement, marking the sixth time the office has conducted an audit.

Read more: Eagle Hospitality Trust: City of Long Beach to conduct Queen Mary lease audit

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Cromwell European REIT

Celine Tang @ Chen Huaidan’s direct interest in Cromwell European REIT fell to 11.91 percent from 12.01 percent after the disposal of 2.38 million units in the market for 1.25 million euros, the investment manager said in a filing to SGX Wednesday.

The direct interest of Celine Tang’s husband, Tan Gordon @ Tang Yigang, fell by the same amount as the units are jointly held, the filing said.

Read more about Cromwell European REIT.

Straits Trading

The Straits Trading Co. said Wednesday the Trust, which is an 80 percent-owned subsidiary of Straits Real Estate, has entered a deal to acquire a mixed-use office and industrial property in Mulgrave, Victoria, Australia, for A$24 million, or around S$22.3 million.

The property has a total net lettable area of 12,157 square meters and is located around 21 kilometers south-east of the Melbourne central business district, Straits Trading said in a filing to SGX.

The deal marks a continued expansion of the Australian portfolio, after the previously announced acquisition of five industrial properties across Australia and a parcel of land for a mixed-use office and warehouse development in South Australia, Straits Trading said.

Read more about Straits Trading.

Venture Corp.

Blackrock ceased to be a substantial shareholder of Venture Corp., with its deemed interest falling to 4.95 percent from 5.1 percent previously after a decrease in collateral of 435,566 shares of the contract manufacturer, the asset manager said in a filing to SGX after the market close Wednesday.

Read more about Venture Corp.

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Thakral Corp.

Thakral Corp. said Wednesday it has established two new subsidiaries in Singapore: Thakral Umeda Properties, with 1 million allotted and issued shares at 100 yen each for a total 100 million yen, and Nihon Property Investments, with 100,000 shares at 100 yen each for a total of 10 million yen.

Both new subsidiaries will be investment holding companies, with Thakral Umeda Properties acting as a pooled investment vehicle with equity from Thakral and other investors, Thakral said in a filing to SGX. Thakral and its subsidiaries will hold around 79.1 percent of Thakral Umeda Properties, it added.

The new subsidiaries were created in preparation for additional property investments in Japan, Thakral said.

Read more about Thakral Corp.


GuocoLand’s wholly owned subsidiary GuocoLand (China) entered a deal to transfer its 75 percent stake in Beijing Ming Hua Property (BJMH) to Beijing Huarong Comprehensive Investment (BHCI) for 23.85 million yuan, or around S$4.6 million, the Singapore-listed property developer said in a filing to SGX Wednesday.

BHCI already held the remaining 25 percent of BJMH, which is mainly a property developer, the filing said. BJMH had completed and sold all of the office units in its commercial project, International Office Plaza in Beijing, GuocoLand said.

Read more about GuocoLand.

Sim Leisure Group

Sim Leisure Group’s wholly owned subsidiary Sim Leisure Escape has entered a joint venture with Rock Climb Asia, which will take a 40 percent stake in Sim Leisure Rock for 400,000 ringgit, the theme park operator said in a filing to SGX Wednesday.

Sim Leisure Escape will invest 600,000 ringgit in Sim Leisure Rock, which will engage in the rock-climbing sports business, the filing said.

“The board is of the view that the business of the joint venture, being rock climbing, is complementary to the group’s existing business of theme park operations which are about adventure play and team building,” Sim Leisure said.

“Furthermore, rock climbing can be an additional attraction in indoor sports recreational centers located within shopping malls as the group begins its foray into the rising trend of lifestyle malls where shoppers frequent shopping malls to fulfill their recreational needs,” it added.

Read more about Sim Leisure Group.

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Synagie said Wednesday it has begun legal action in the High Court of Singapore against a third-party service provider for breach of contract, claiming a sum of S$751,971.

In response, the third-party service provider has filed a counterclaim on 14 June for a breach of the same contract and is claiming S$1.17 million, Synagie said in a filing to SGX, adding the two parties are also trying to resolve the disputes in mediation, scheduled for early 2020.

“The company had been previously advised by its litigation counsel that any disclosures on the claim and counterclaim would have an adverse impact on the chances of parties entering into the mediation and at this juncture, any further disclosures (including particulars of the name of the third-party service provider and the nature of the service provided) would be prejudicial to the interest of the company as
it would affect the chances of parties arriving at an amicable settlement at the mediation,” Synagie said.

The company advised exercising caution when trading its securities.

Read more about Synagie.