UPDATE: Singapore stocks Wednesday: Keppel, SPH, GENS, SingHaiyi, UOB, ST Engineering, Olam, SGX, Venture

UOB branch at Raffles Place, SingaporeUOB branch at Raffles Place, Singapore. Photo taken pre-Covid.

Singapore companies in focus on Wednesday, 10 November 2021:

  • UPDATE: Keppel sweetens bid for SPH, topping Cuscaden Peak’s competing offer
  • Genting Singapore posts 3Q21 net profit grew 11 percent despite revenue drop on one-time gain
  • Celine and Gordon Tang bid to take SingHaiyi private
  • UOB-led bank consortium enters tie-up to standardise green trade financing criteria

Others: Olam International, Singapore Exchange (SGX), EC World REIT, Far East Orchard, OxPay Financial, Sea Ltd., CapitaLand Investment, Venture Corp., ComfortDelGro, Lifebrandz, SingHaiyi Group, Hock Lian Seng Holdings, Sinarmas Land, Food Empire, Kim Heng and VibroPower.

This item was originally published on Wednesday, 10 November 2021 at 2:26 a.m. SGT; it has since been updated to include ST Engineering, Valuetronics and Hatten Land.

Keppel, SPH, SPH REIT and Keppel REIT

Keppel Corp. has sweetened its bid to acquire SPH to S$2.351 a share, in a cash-and-share offer, topping its previous bid of S$2.099 and a competing bid of S$2.10 in cash from Cuscaden Peak.

Read more: UPDATE: Keppel sweetens bid for SPH, topping Cuscaden Peak’s competing offer

Genting Singapore

Genting Singapore reported Tuesday its third quarter net profit after tax grew 11 percent on-year to S$60.71 million from S$54.45 million a year earlier due to a one-off net exchange gain.

Read more: Genting Singapore posts 3Q21 net profit grew 11 percent despite revenue drop on one-time gain

Olam International

Olam International said Tuesday it is launching a new venture, with a working project name of GreenPass, which uses a digital platform to let companies measure and manage carbon emissions in their operations and supply chains better and faster.

“GreenPass will be based off Olam’s own platform that has already been successfully implemented, which has achieved data measurements, that were more comprehensive, accurate and less time consuming than previous results. The platform lets users complete the entire GHG [greenhouse gas] ‘footprinting’ process within an average of six weeks, five times faster than a typical exercise,” Olam said in a filing to SGX.

Read Olam’s filing to SGX.

ST Engineering

ST Engineering has landed S$1.82 billion of new contracts in the third quarter, driven in part by strong demand for passenger-to-freight (P2F) conversions of planes, the aerospace and defense company said in a filing to SGX Wednesday.

Read more: ST Engineering: Landed S$1.82B of new contracts in 3Q21 amid strong plane conversions

Valuetronics

Contract manufacturer Valuetronics reported Wednesday its fiscal first half net profit dropped 38.1 percent on-year to HK$56.6 million as supply-chain disruptions caused severe component shortages and the loss of an automotive customer.

Read more: Valuetronics posts fiscal 1H net profit dropped 38 percent on chip shortage, loss of automotive customer

Singapore Exchange (SGX)

Singapore Exchange (SGX) has added Nasdaq-listed Tiger Brokers as a trading member of its securities and derivatives markets, as well as a clearing member and depository agent of the Central Depository (CDP), the exchange operator said in a statement Tuesday.

“Tiger Brokers has been a partner of SGX for a number of years now and we are delighted to be deepening our partnership with them,” Pol de Win, senior managing director and head of global sales and origination at SGX, said in the statement. “As the first online brokerage with SGX memberships across securities trading and clearing, securities depository and derivatives trading, Tiger Brokers will enjoy even greater
access to SGX’s range of investment and risk management solutions as well as a wider pool of international investors.”

Including Tiger Brokers, SGX now has 26 trading members and 26 clearing members, while the derivates market has 67 trading member and 26 clearing members, with CDP having 50 depository agents, the filing said.

Read Singapore Exchange’s filing to the exchange.

UOB, DBS, OCBC and Standard Chartered

A UOB-led consortium of four major banks has tied up with Singapore Trade Data Exchange (SGTraDex) to develop digital services to apply “clear and consistent” cross-industry standards for green trade financing, the Singapore bank said in a press release on its website Tuesday.

Read more: UOB-led bank consortium enters tie-up to standardise green trade financing criteria

CapitaLand Investment

CapitaLand Investment said Tuesday it established a S$6 billion euro medium-term note program.

DBS Bank, HSBC’s Singapore branch, Morgan Stanley Asia (Singapore), OCBC and UOB were appointed as arrangers and dealers of the program, the company said in a filing to SGX.

Venture Corp.

Wong Ngit Liong, who will step down from his role as CEO of Venture Corp. on 1 January 2022, acquired 200,000 shares of the company in the market for S$3.75 million, taking his total interest to 7.106 percent from 7.037 percent previously, according to a filing to SGX Tuesday.

ComfortDelGro

Bank of Montreal’s (BMO) interest in ComfortDelGro shares fell to 0.001 percent from 6.327 percent previously after the transfer of 137.10 million shares after Ameriprise Financial acquired BMO’s EMEA Asset Management business, effective Monday, according to a filing to SGX.

EC World REIT

EC World REIT reported Tuesday its third quarter net property income increased 9.4 percent on-year to S$28.60 million on positive straight-line adjustments and a stronger yuan.

Read more: EC World REIT posts 3Q21 net property income rose 9 percent as yuan strengthened

OxPay Financial

OxPay Financial said Tuesday it has tied up with ShopeePay and will offer its digital wallet as a payment option for merchants in Singapore, Malaysia and Thailand. The service is expected to begin by end-2021, OxPay said in a filing to SGX.

ShopeePay is part of SeaMoney, the digital finance arm of Sea Ltd.

Read OxPay Financial’s filing to SGX.

SingHaiyi Group

Haiyi Treasure, an entity controlled by Celine and Gordon Tang, has offered to take property developer and investor SingHaiyi Group private at S$0.117 a share, according to a filing to SGX Tuesday.

Read more: Celine and Gordon Tang bid to take SingHaiyi private

SingHaiyi Group

SingHaiyi Group reported Tuesday its fiscal first half swung to a net profit of S$12.52 million from a year-ago net loss of S$4.60 million, as the gross profit margin increased, mainly on higher selling prices at the Parc Clematis project and a change in the geographical revenue mix, with more higher margin revenue from the U.S.

Revenue for the April-to-September period quadrupled on-year to S$202.76 million, mainly on higher revenue recognised for the Parc Clematis project and The Gazania and Vietnam Town Phase II projects, the property developer said in a filing to SGX.

Read SingHaiyi’s filing to SGX.

Far East Orchard

Far East Orchard reported Tuesday its net loss for the first nine months of the year widened to S$12.6 million, from S$6.3 million in the year-ago period as Covid-related lockdowns and tightened restrictions continued to weigh on the hospitality segment.

Read more: Far East Orchard reports 9M21 net loss widened as hospitality segment weighed

Hatten Land

Hatten Land said Wednesday it formed a renewable energy joint venture with Nestcon, in a deal which will include installing more than 6,000 solar panels on the roof of Melaka’s largest mall, which is managed by Hatten Group conglomerate.

The deal is part of Hatten Land’s move to repurpose its Malaysian malls for digital and blockchain activities, including cryptocurrency mining enabled by renewable energy, the company said in a filing to SGX.

Read Hatten Land’s filing to SGX.

Hock Lian Seng Holdings

Hock Lian Seng Holdings said Tuesday its wholly owned subsidiary Hock Lian Seng Infrastructure was awarded Contract CR 103 from the Land Transport Authority for the design and construction of Aviation Park station and tunnels, with a contract value of S$320million.

The project commencement date is Tuesday, the company said in a filing to SGX.

Mitbana, Sinarmas Land and Swat Mobility

Mitbana, Sinarmas Land and Singapore-based Swat Mobility are planning to introduce demand-responsive bus services, which will adjust routes to road traffic and demand changes, in Bumi Serpong Damai (BSD) City, Tangerang, Greater Jakarta, in Indonesia. The plan will be implemented in phases from 2022, the companies said in a filing to SGX.

Mitbana is a joint venture between Mitsubishi Corp. and Surbana Jurong.

Read the filing to SGX.

Food Empire

Food Empire reported Tuesday its nine-month net profit fell 25.2 percent on-year to US$14.56 million, mainly on lower margin as  commodity costs and ocean freight rates rose and as depreciation expenses were higher as the new freeze dry coffee plant in India began operations.

Revenue for the January-to-September period rose 11.2 percent on-year to US$226.07 million on higher sales contribution from the Russia, South-East Asia and South-Asia markets due to higher demand and expanded product range, the company said in a filing to SGX.

Read Food Empire’s filing to SGX.

Kim Heng

Kim Heng said Wednesday it had entered a memorandum of understanding (MOU) with Hung Hua Construction of Taiwan, to build an export cable laying barge and providing a project team to lay and install the power cable for an offshore windfarm in Taiwan.

Read Kim Heng’s filing to SGX.

VibroPower

Chng Beng Hock has sold 450,000 shares of VibroPower at S$0.06 each, taking his total interest to 9.17 percent from 9.781 percent previously, according to a filing to SGX Tuesday.

Lifebrandz

Capital Square’s interest in Lifebrandz fell to 5.63 percent from 6.77 percent previously after the sale of 23.57 million shares in the market at S$0.003 each, according to a filing to SGX Tuesday. Naoki Watanabe wholly owns Capital Square and is deemed interested in its holdings, the filing said.

Lifebrandz is a holding company for fintech robo advisor Finesse, travel business Takumi Holidays, which provides local experiences for visitors in Japan, and a food and beverage business which includes the Mulligan, an Irish-style pub in Pattaya, Thailand, and the Hashida Sushi restaurants.

 

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