UPDATE: Singapore stock briefs Wednesday: DBS, Keppel, Japfa, Frencken, SIA Engineering, Yanlord, Mercurius, United Hampshire US REIT

DBS Bank branchDBS Bank branch

These are Singapore companies which may be in focus on Wednesday, 7 September 2021: DBS, Keppel Corp., Japfa, Frencken Group, SIA Engineering, Yanlord Land, United Hampshire US REIT, Raffles Education, Lasseters International, Mercurius Capital Investment, Koda, Avarga and Eneco Energy.

This item was originally published on Wednesday, 8 September 2021; it has since been updated to include AIMS APAC REIT and an update of the item on Mercurius Capital Investment.

DBS

Southeast Asia’s largest bank, DBS, is pricing a U.S. dollar-denominated 5.5 year benchmark bond under its global medium term note program, according to a client note seen by Shenton Wire.

Read more: DBS pricing 5.5-year US dollar benchmark bond offering: Client note

Keppel Corp.

Keppel Corp. has priced S$400 million in fixed-rate subordinated perpetual securities at 2.90 percent, the company said in a filing to SGX Tuesday.

Read more: Keppel prices S$400M in perpetual securities

Japfa

Japfa has entered a deal to sell a 5 percent stake in subsidiary AustAsia Investment Holdings to Chinese agri-food group New Hope for US$58.4 million in a move to establish a partnership to enhance its position in China’s raw-milk production market, the agri-business said in a filing to SGX Tuesday.

Read more: Japfa to sell 5 percent stake in AustAsia to New Hope for US$58.4M

SIA Engineering

SIA Engineering said Tuesday it launched the Lean Academy as part of its transformation plan and as a move to improve work processes as well as to continually upskill its workforce.

Initially, the program will serve SIA Engineering’s workforce, with a goal of having all of the workforce trained by early 2023, the company aid in a filing to SGX. Longer term, the training will be extended to the wider aerospace maintenance, repair and overhaul (MRO) industry, the filing said.

Read SIA Engineering’s statement on the program’s launch.

Yanlord Land

Yanlord Land reported Tuesday the company, its joint ventures and associates had total contracted pre-sales from residential and commercial units and carparks amounting to around 2.29 billion yuan, down 81 percent from August 2020.

For the eight months through end-August, the total contracted pre-sales from residential and commercial units and carparks amounted to around 33.9 billion yuan, down 29 percent on-year, Yanlord said in a filing to SGX.

Read Yanlord Land’s unaudited operating figures for August.

Frencken Group

Frencken Group has acquired all of Singapore-based Avimac for S$14 million in a move to expand  its offerings in the semiconductor and aerospace sectors, the Singapore-listed company said in a filing to SGX Tuesday.

Read more: Frencken acquires Avimac for S$14M to expand in semiconductor and aerospace sectors

United Hampshire US REIT

United Hampshire US REIT’s portfolio of 18 grocery-anchored retail properties and four self-storage properties experienced minimal impact from Hurricane Ida, the REIT said in a filing to SGX Tuesday.

“A small number of retail properties experienced superficial exterior and signage damages; while there were minor flooding issues at Elizabeth Self-Storage, which led to an immediate relocation of a limited number of units of affected belongings, with no noteworthy concerns,” the REIT said.

AIMS APAC REIT

AIMS APAC REIT Management has appointed Russell Ng Keh Yang as CEO-designate after current CEO and Executive Director Koh Wee Lih submitted his resignation to pursue other professional interests, the manager of AIMS APAC REIT said in a filing to SGX Wednesday.

Read more: AIMS APAC REIT manager taps Russell Ng as new CEO as Koh Wee Lih steps down

Raffles Education

Lim How Teck, lead independent non-executive director at Raffles Education, has acquired 1 million shares, or a 0.072 percent stake, in the company for S$96,000 in a market transaction on Monday, according to a filing to SGX.

Lim did not hold any shares of Raffles Education prior to the purchase, according to the filing.

 

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Lasseters International

In response to a query from SGX, Lasseters International pointed to its previously announced proposed disposal of freehold land and buildings, and the assets of its Australian subsidiaries, Ford Dynasty and Lasseters Health Club, to explain the surge in its share price Tuesday.

The stock price surged 59.18 percent to close at S$0.078 Tuesday on volume of 35.56 million shares, compared with average volume of around 87,000, according to Yahoo Finance data.

Lassters, which operates casino gaming businesses and accompanying accommodation, said in the filing to SGX it planned to hold an extraordinary general meeting in October to seek shareholder approval of the deal, adding it is also exploring other opportunities to sustain the business ahead. It noted it didn’t know of any other information not already announced to explain the share price move.

Mercurius Capital Investment

Chang Wei Lu, CEO of Mercurius Capital Investment, acquired 9,074,900 shares in the company on Monday for S$635,243 in a market transaction, according to a filing to SGX Tuesday. The transaction increased Chang’s stake In Mercurius Capital Investment to 24.06 percent from 23.37 percent previously, the filing said.

A second filing on Wednesday said Chang acquired another around 7.6 million shares for around S$543,901, taking his stake up to 24.63 percent.

The company is an investment holding company focused on development and investment in hotel resort properties in Thailand; it currently has the Sheraton Phuket Grand Bay Resort under development.

Koda

Koda said Tuesday its factories located in Senai, Johor, in Malaysia, have resumed operating at full capacity following the full vaccination of its employees, in line with the Malaysian government’s guidance for the manufacturing sector to operate at capacities approximating the vaccination rate.

The group will continue to adhere to strict measures for mask-wearing, regular testing and safe-distancing, Koda said in a filing to SGX.

Avarga

Avarga Ltd., formerly known as UPP Holdings, said Tuesday it sold 19.5 million shares, or a 2.5 percent stake, in Malaysia-listed Straits Inter Logistics at an average price of 0.19756 ringgit each, or a total of 3.85 million ringgit, or around S$1.25 million.

Avarga is an investment holding company, with three core businesses: Paper manufacturing, power generation and building materials distribution.

Read Avarga’s statement on the share sale.

Eneco Energy

Indonesian oil and gas explorer Eneco Energy said Tuesday it has appointed Gwee Chee Kiang, age 46, as CEO. Gwee is currently the finance director at Gain City Best-Electric, and from 2019-2021 was the chief financial officer at Astique Design, the company said in a filing to SGX.

The statement didn’t say when the appointment would take effect.

Eneco Energy’s shares are suspended and are currently on SGX’s Watch-list, and the end-date for its cure period is 2 December 2022.

 

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