Singapore stocks Monday: Thai Beverage, IREIT, ComfortDelGro, China Everbright Water, Viking Offshore

Chang Beer, made by Thai BeverageChang Beer, made by Thai Beverage

Singapore companies in focus on Monday, 29 November 2021:

  • Thai Beverage: FY net profit rose 5 percent on year-ago one-offs, but Covid hits sales
  • IREIT Global lands new lease with German government body for space GMG is vacating
  • ComfortDelGro acquires London property for 3.6 million British pounds

Others: Thai Beverage (ThaiBev), China Everbright Water, Viking Offshore and Marine, Daiwa House Logistics Trust (DHLT), Hong Lai Huat Group, Jubilee Industries, Marco Polo Marine, Eurosports Global, Koyo International, UnUsUaL and Karin Technology.

Thai Beverage

Thai Beverage reported Friday its fiscal year net profit rose 4.9 percent on-year to 27.34 billion baht, due to non-recurring expenses in the previous year and 2.66 billion baht of deferred tax utilization related to the beer business restructuring.

Read more: Thai Beverage: FY net profit rose 5 percent on year-ago one-offs, but Covid hits sales

Thai Beverage

Thai Beverage said Friday it achieved the best score in the beverage industry in the 2021 Dow Jones Sustainability Index (DJSI) for a fourth straight year.

“The company attained top scores in the social and the governance and economic dimensions, and scored the second highest in the environmental dimension,” ThaiBev said in a statement filed to SGX.

“The company has embarked on collaborations to help communities gain access to clean water sources to improve their quality of life. It strives to reduce its ecological impact through programs such as surface water and groundwater sustainability assessment, efficient water management, watershed forest conservation, and community-level water stewardship,” the company said.

“In addition, the company has successfully leveraged innovation to transform post-consumer plastic bottles into recycled plastic pellets (rPET). These rPET were used to produce eco-friendly blankets, which were donated to communities,” ThaiBev said.

Read ThaiBev’s full statement.

ComfortDelGro

ComfortDelGro‘s wholly owned indirect subsidiary, U.K.-based Metroline Travel, has acquired a property in Brentford, London, U.K., from Waterside Places (General Partner) for 3.6 million British pounds, or around S$6.55 million in cash, the transportation player said in a filing to SGX Friday.

“The transaction will add a new site to the purchaser’s holdings in London, enabling the business to invest in the development of a new bus garage,” ComfortDelGro said.

Waterside Places (General Partner) Ltd. is the general partner of Waterside Places Limited Partnership and Waterside Places (GP Nominee) Ltd. which is a joint venture between Muse Developments Ltd. and the Canal & River Trust, the filing said.

IREIT Global

IREIT Global has secured a new lease with a German federal government body which will take up the five floors of office space to be vacated by existing tenant GMG Generalmietgesellschaft mbH (GMG) at the Muenster Campus at the March 2022 lease expiry, the REIT’s manager said in a filing to SGX Friday.

Read more: IREIT Global lands new lease with German government body for space GMG is vacating

Daiwa House Logistics Trust

Daiwa House Logistics Trust made a tepid debut on SGX, ending Friday flat at its S$0.80 initial public offering (IPO) price, which was also its day’s low, and off the day’s high of S$0.808.

The units, however, outperformed a 1.72 percent drop in the benchmark Straits Times Index.

Read more: Daiwa House Logistics Trust makes flat debut amid broader market tumble

China Everbright Water

China Everbright Water said Friday its 60 percent-owned subsidiary Everbright Water (Qingdao) entered a framework agreement with Qingdao Water Authority Bureau to invest in, construct and operate the Qingdao Maidao Waste Water Treatment Plant Expansion and Upgrading Project.

Everbright Water (Qingdao) currently invests in and operates Qingdao Waste Water Treatment Project (Maidao Plant) and its upgrading project, and the new project will further upgrade the quality of the discharge water, the filing said.

The total investment amount of the new project is estimated at 1.432 billion yuan, and the project period including construction is expected to be 25 years, China Everbright Water said.

Read China Everbright Water’s filing to SGX.

Hong Lai Huat Group

Hong Lai Huat Group has entered a warrant issuance deal to issue 80 million non-listed and transferable warrants to investment bank Soochow CSSD Capital Markets (Asia) (SCCM) for S$800, the company said in a filing to SGX Friday.

Read more: Hong Lai Huat enters warrant issuance deal with SCCM, potentially raising around S$29M

Viking Offshore and Marine

The group of investors who acquired an around 87 percent stake in Viking Offshore and Marine this month have dispatched an offering document to shareholders for mandatory unconditional cash offer of S$0.01 a share for the remainder of the company’s shares .

Shares of Viking Offshore ended Friday up 17 percent at S$0.117.

Read more: Viking Offshore gets mandatory offer after investor group acquires 87 percent stake

Jubilee Industries and Accrelist

Jubilee Industries has entered a memorandum of understanding (MOU) to sell its wholly owned subsidiary WE Components for US$11 million, or around S$15 million, the company said in a filing to SGX Saturday.

Read more: Jubilee Industries enters deal to sell WE Components for US$11M

Marco Polo Marine

Marco Polo Marine reported Friday its fiscal full year swung to a net profit of S$14.8 million from a year-ago net loss of S$9.2 million, o revenue of S$46.1 million, up 49 percent on-year, boosted partly on higher shipbuilding revenue with the construction of two smart fish farms and an increase in ship-repair jobs.

“We are working on expanding into the renewable energy sector and extend beyond the Group’s target markets to diversify our source of
revenue. While we have to be mindful of the overall recovery globally, we are optimistic about the momentum ahead,” Sean Lee, CEO of Marco Polo Marine, said in the statement.

Read Marco Polo Marine’s filing to SGX.

Eurosports Global

Eurosports Global said Friday it incorporated a new subsidiary, EVI Electric, to carry out business as an electric mobility manufacturer and energy system provider.

Koyo International

Koyo International‘s wholly owned subsidiary Koyo Engineering was awarded a S$7.2 million contract for mechanical and engineering services, the company said in a filing to SGX. The contract is expected to begin this month and run for around 26 months, the filing said.

UnUsUaL

Event production company UnUsUaL‘s subsidiary UnUsUaL Development has entered a deal to for a new entity, called FunBase, focused on the non-fungible token (NFT) market with Season Culture and a third-party angel investor, the company said in a filing to SGX Friday.

UnUsUaL will hold 30 percent of FunBase, with the option increase the stake to 51 percent over the next three years, the filing said.

“Our future events will have an expanded offerings in the form of NFTs in various format such as special edition event collectibles, digital tickets, audio video assets and etc. The potential is limitless. This will in turn help us to build and grow an interactive fan-based community of these events,” Leslie Ong, CEO of the company, said in the statement.

Read UnUsUaL’s statement on the deal.

Karin Technology

Karin Technology said Friday it entered a deal to sell its property on Level 7, Tower 1, Kerry Everbright City, in Shanghai, China, to an independent third party for 3.28 million yuan, or around HK$4 million, in cash.

An independent valuation report put the current market value of the property at around HK$3.6 million as of end-June, the filing said.

 

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