SG stocks Thursday: Property, ST Engineering, SIA, Del Monte Pacific, QT Vascular, Mapletree Logistics, Isetan

A Singapore Airlines Scoot plane on the tarmac at Changi Airport in October 2018.A Singapore Airlines' Scoot plane at Changi Airport

Singapore companies in focus on Thursday, 16 December 2021:

  • Singapore sets new residential property cooling measures
  • ST Engineering shareholders approve acquisition of TransCore
  • Singapore Airlines to buy 7 Airbus A350F freighter aircraft
  • QT Vascular activist shareholders reportedly claim to win EGM vote to remove directors

Others: Del Monte Pacific, Mapletree Logistics Trust, United Overseas Australia, China Everbright Water, Thomson Medical Group, Isetan (Singapore), Vividthree, Raffles Infrastructure and Rex International.

Property stocks

Singapore announced early Thursday a new package of measures to cool the private and public residential property markets, effective immediately.

Read more: Singapore sets new residential property cooling measures

Singapore Airlines

Singapore Airlines has entered a letter of intent to buy seven A350F freighter aircraft from Airbus, with options to order another five aircraft, the Singapore flag carrier said in a filing to SGX Wednesday.

Read more: Singapore Airlines to buy 7 Airbus A350F freighter aircraft

ST Engineering

ST Engineering‘s shareholders have approved the acquisition of TransCore Partners and TLP Holdings from a wholly owned subsidiary of U.S.-listed Roper Technologies for US$2.68 billion by a 99.92 percent to 0.08 percent vote at an extraordinary general meeting Wednesday.

Read more: ST Engineering shareholders approve acquisition of TransCore

Del Monte Pacific

Del Monte Pacific reported Wednesday its fiscal second quarter net profit increased 63.8 percent on-year to US$35.80 million on turnover of US$650.99 million, up 4.4 percent on-year on higher sales in the U.S. across all major segments, higher exports of S&W fresh pineapples and processed pineapples and other products.

“The group continued to improve its gross margin by 180 basis points to 27.4 percent mainly from better sales mix with increased sales of higher-margin retail branded products in the USA,” the company said in a filing to SGX.

Read Del Monte Pacific’s filing to SGX.

Mapletree Logistics Trust

Mapletree Logistics Trust said Wednesday it has completed the acquisition of the logistics property at 9 Changi South Street 2 in Singapore.

Read more about the acquisition.

United Overseas Australia

United Overseas Australia group member UOA Vietnam BDC has entered a binding memorandum of understanding with CapitaLand (Vietnam) Holdings to collaborate  on prospective land development projects in Vietnam, the company said in a filing to SGX Wednesday.

When a suitable project is identified, the venture is expected to have an investment allocation of 30 percent UOA Vietnam and 70 percent CapitaLand (Vietnam), the filing said.

QT Vascular

The requisitioning shareholders of an extraordinary general meeting (EGM) Wednesday aiming to remove QT Vascular‘s directors are reportedly claiming to have won the vote, but the company reiterated that it considers the meeting invalid.

Read more: QT Vascular activist shareholders reportedly claim to win EGM vote to remove directors

China Everbright Water

China Everbright Water proposed Wednesday adjusting the interest rate on its third-tranche corporate bonds downward for the 21 January 2022 to 20 January 2024 period “in view of the existing market conditions,” as it is entitled to do under the terms of the offering, which was initially issued in 2019.

Thomson Medical Group

Thomson Medical Group’s digital arm Thomson X has entered a joint venture with Singapore telehealth provider WhiteCoat to launch a mobile application for healthcare services for women and children, the healthcare company said in filing to SGX Wednesday.

Read Thomson Medical’s filing to SGX.

Isetan (Singapore)

Isetan (Singapore) said Wednesday said the expressions of interest (EOI) gathering to sell its property at Wisma Atria, located on Singapore’s tony Orchard Road shopping belt, has completed without a positive outcome.

“The company will continue exploring all other options that may lead to a better yield from the property, including any possible future
sale,” Isetan (Singapore) said in a filing to SGX.

Vividthree

Vividthree said Wednesday it has completed a proposed placement of 37.5 million new shares at S$0.05832 each, with the shares to be listed on SGX on 17 December.

Read more: Vividthree raises S$2.2M from investors including Evolve Capital

Raffles Infrastructure

Raffles Infrastructure said Wednesday it had terminated its subscription agreement with Yayuan Ltd. after SGS RegCo rejected the company’s appeal to reconsider its decision to disallow the new shares to be listed.

Rex International

Rex International said Wednesday its 90 percent-owned subsidiary, Lime Petroleum, has received approval from Norwegian authorities to acquire 33.8434 percent of the Brage Field.

Read Rex International’s filing to SGX.

 

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