Singapore stocks Friday: Keppel, Olam, OUE C-REIT, CapitaLand Investment, Quarz, Sabana REIT, Parkway Life REIT, KSH, Lian Beng, Metech, Ausgroup

The OUE Downtown building in Singapore’s central business district. Credit: Shenton WireThe OUE Downtown building in Singapore’s central business district. Credit: Shenton Wire

These are Singapore companies which may be in focus on Friday, 7 October 2021: Keppel Corp., OUE Commercial REIT (OUE C-REIT), Olam International, CapitaLand Investment, Quarz Capital Asia (Singapore), Sabana Shariah Compliant Industrial REIT, Parkway Life REIT, KSH Holdings, Lian Beng Group, Heeton Holdings, AusGroup, Beng Kuang Marine, Metech International, Global Palm Resources, Hatten Land, Yamada Green Resources, Global Investments, Singapore Myanmar Investco and SMI Vantage, AnnAik and Fragrance Group.

Keppel Corp.

Keppel New Energy has signed a memorandum of understanding (MOU) with Thailand-listed BCPG PCL to collaborate on providing low-carbon, sustainable energy services and infrastructure in Southeast Asia, Keppel Corp. said in a filing to SGX Thursday.

Read more: Keppel New Energy and BCPG to collaborate on sustainable energy infrastructure in Southeast Asia

OUE Commercial REIT

OUE Commercial REIT has obtained a S$540 million sustainability-linked loan from a consortium of five banks including OCBC Bank, which is also acting as sustainability advisor for the deal, the REIT said in a filing to SGX Thursday.

Read more: OUE Commercial REIT gets S$540M sustainability-linked loan from consortium including OCBC

Olam International

Orbis Investment Management Ltd. (OIML), which is the fund manager for Orbis funds, has ceased to be a substantial shareholder of Olam International after the sale of 2.158 million shares in the market for S$3.79 million, taking its deemed interest to 4.944 percent, below the 5 percent threshold, from 5.002 percent previously, according to a filing to SGX Thursday.

OIML is an indirect subsidiary of Allan & Gill Gray Foundation, Orbis Allan Gray and Orbis Holdings, all of which also saw their deemed interest in Olam decline, the filing said.

CapitaLand Investment

CapitaLand Investment’s wholly owned lodging unit The Ascott Ltd. said Thursday its portfolio of lyf branded co-living properties would reach 17 by 2025, with more than 3,000 units across 13 cities.

Read more: CapitaLand Investment’s Ascott set to reach 17 Lyf properties by 2025

Sabana Shariah Compliant REIT and Quarz Capital Asia

Quarz Capital Asia (Singapore) has increased its holding in Sabana Shariah Compliant Industrial REIT with the acquisition of 140,000 units in the market for S$59,500, taking its deemed interest to 11.012 percent from 10.999 percent previously, according to a filing to SGX Thursday.

Quarz Capital Asia (Singapore)’s interest is deemed due to its capacity as investment advisor and fund manager of various funds and accounts, the filing said.

Parkway Life REIT

Cohen & Steers, an investment manager specializing in real assets and alternative income, said Thursday its deemed interest in Parkway Life REIT fell to 6.97 percent from 7.06 percent previously after its wholly owned subsidiary sold 526,700 units in the market at S$4.5443 each, or a total of S$2.48 million.

Cohen & Steers and its affiliates are not the registered holders of Parkway Life REIT units, the asset manager said in a filing to SGX.

KSH, Lian Beng and Heeton

KSH Holdings, Lian Beng Group and Heeton Holdings have entered deals to sell two property sites in Brisbane, Australia, citing concerns about the viability of projects, the companies said in filings to SGX Thursday.

Read more: KSH, Lian Beng and Heeton to sell Brisbane properties

AusGroup

AusGroup said Thursday it has landed A$32 million in new contracts across Western Australia’s resources and energy sectors.

“AusGroup will provide a range of diverse services to resource projects focusing on rectification and fabrication works for Conveyor Gravity Take-up Unit (GTU) and Twin Boom Stacker fabrication packages, including on-site installation and the provision of specialist maintenance ground crews,” the company said in a filing to SGX.

“In addition, AusGroup will also provide fabrication and onsite construction services for two waste-to-energy plants with all these projects collectively creating permanent and Fly-in, Fly-out (FIFO) employment opportunities over the coming months,” the company said.

Beng Kuang Marine

Beng Kuang Marine said Thursday one of its livestock carriers was detained by the Indonesian Navy for anchoring in an unauthorised area; the vessel, MV Diamantina, is owned by the company’s 70 percent-owned subsidiary Cattle Line Two (CLT).

CLT has engaged a local Indonesian agent to liaise with authorities and is seeking legal advice, the company said in a filing to SGX, adding it has served a letter to terminate the ship manager’s services as it views the manager failed to adhere to sound management practice and breached its duties.

The incident is expected to have a material impact on net assets per share and earnings per share for the current financial year, Beng Kuang said.

 

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Metech International

Metech International’s joint venture Asian Eco Technology has entered a memorandum of understanding (MOU) to supply India-based Lucinu Jewellery with lab-grown diamonds, the company said in a filing to SGX Friday.

Read more: Metech JV enters deal to supply India-based Lucinu Jewellery with lab-grown diamonds

Global Palm Resources

Global Palm Resources said Thursday it has decided to reallocate 2013 IPO proceeds toward developing its existing uncultivated land banks into oil palm plantations as the board believes the acquisition of other oil palm plantations and land banks and building a co-composting plant are not expected in the near future.

In addition, the company intends to use IPO proceeds for replanting expenses as it plans to continue replanting older palm trees with newer breeds of higher-yielding palm trees to ensure long-term sustainability, Global Palm said in a filing to SGX. Around S$4.63 million will be reallocated, the filing indicated.

Hatten Land

Hatten Land said Thursday it has signed an agreement with Prakal Pte., known as EnjinStarter, to develop a dedicated token system and create digital assets, including non-fungible tokens (NFTs).

Under the deal, EnjinStarter will develop a token strategy to allow tokens and NFTs to be exchanged or connected with Hatten Group’s current loyalty point system and with other participating hotels, attractions, malls and shops, beginning in Melaka, the company said in a filing to SGX.

Read Hatten Land’s statement on the deal.

Global Investments

Global Investments Ltd. said Thursday it has transferred 28.69 million treasury shares, valued at S$4.3 million, to be used under its scrip dividend plan. After the transfer, GIL will have 103.95 million treasury shares, the company said in a filing to SGX.

GIL invests in a cross-sector portfolio of assets which will generate steady income and potential appreciation; its investments include direct asset ownership, swaps, credit default swaps, debt, warrants, options, equity and loan agreements, according to its website. GIL is managed by Singapore Consortium Investment Management.

Yamada Green Resources

Yamada Green Resources said Thursday its wholly owned subsidiary Fujian Wangsheng Industrial was informed this week that its electricity supplies would be rationed under the current policy in China, with the end-date unclear.

“The curtailment has affected and will continue to affect the production capacity of Wangsheng and accordingly the company expects the group’s financial performance for the second quarter and third quarter of the financial year ended 30 June 2022 to be adversely affected as
a result,” the shitake mushroom supplier said in a filing to SGX.

Singapore Myanmar Investco and SMI Vantage

Singapore Myanmar Investco said Thursday it has obtained shareholder approval to change its name to SMI Vantage, which it views as aligned to the company’s new focus on software-as-a-service (SaaS) and other tech platforms, such as cryptocurrency mining.

AnnAik

Ow Eei Phurn Benedict, an executive director of AnnAik Ltd. and the son of Ow Chin Seng, the executive chairman and CEO, acquired 475,000 shares in the market for S$36,922, boosting his interest to 0.4 percent form 0.23 percent previously, according to a filing to SGX Thursday.

The company has four main businesses: Distribution of stainless steel piping products, manufacture of steel flanges, engineering construction of piping process system and environmental business via building and operating industrial waste-water treatment plants in China, according to a Reuters profile

Fragrance Group

JK Global Treasures has completed the compulsory acquisition of Fragrance Group’s remaining shares, making it a wholly owned subsidiary of the acquirer, according to a filing to SGX Thursday.

Fragrance Group shares will be delisted from SGX on 8 October, the filing said.

Read more: Fragrance management’s takeover bid becomes unconditional

 

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