UPDATE: SG stocks Monday: NIO, Keppel, F&N, FLCT, AA REIT, Far East Orchard, Yanlord

Fraser and Neave (F&N) 100Plus sports drinkFraser and Neave (F&N) 100Plus sports drink

Singapore companies in focus on Monday, 9 May 2022:

  • Smart EV maker NIO to seek secondary SGX listing
  • Credit Suisse: China’s energy transition is ‘multi-decade’ play
  • Perennial, Sino Land, Far East Organization JV to acquire Golden Mile Complex for S$700M
  • Keppel O&M lands S$250M contracts from repeat customers
  • Fraser and Neave posts fiscal 1H net profit dropped 18 percent

Others: Frasers Logistics & Commercial Trust, AIMS APAC REIT, First REIT, Far East Orchard, Yanlord Land and Incredible Holdings.

This item was originally published on Saturday, 7 May 2022 at 17:42 SGT; it has since been updated to include an item on City Developments and Hongkong Land’s MCL Land; and additional briefs.

Smart EV maker NIO to seek secondary SGX listing

  • Smart electric vehicle (EV) maker NIO has proposed a secondary listing on Singapore Exchange (SGX), in addition to its New York Stock Exchange (NYSE) listing.

Perennial, Sino Land, Far East Organization JV to acquire Golden Mile Complex for S$700M

  • A joint venture between Perennial Holdings, Sino Land and Far East Organization has exercised its option to acquire the Golden Mile Complex for S$700 million, with plans for restoring the historic building, the companies said Friday.

Keppel O&M lands S$250M contracts from repeat customers

  • Keppel Offshore & Marine’s wholly owned subsidiary Keppel Shipyard has won around S$250 million in contracts from repeat customers for the integration of two floating production storage and offloading (FPSO) vessels, Keppel Corp. said in a filing to SGX Friday.

Credit Suisse: China’s energy transition is ‘multi-decade’ play

  • China’s infrastructure spending plans, coupled with its energy transition goals, will provide a long-term “supertrend” investment catalyst, Credit Suisse said Thursday.

City Developments, MCL Land sell 77 percent of Piccadilly Grand project on launch weekend

  • The Piccadilly Grand development in Singapore sold 315 out of 407 units, or 77 percent, on its opening weekend, developers City Developments and Hongkong Land‘s MCL Land said in a press release Sunday.

Fraser and Neave posts fiscal 1H net profit dropped 18 percent

  • Fraser and Neave (F&N) reported Friday its fiscal first half net profit fell 17.9 percent on-year to S$68.54 million amid rising raw material and energy prices.

AIMS APAC REIT: In exclusive due diligence on Sydney property

  • AIMS APAC REIT (AA REIT) is in exclusive due diligence on the Avaya House property located in Macquarie Park, in Sydney, Australia, the REIT said in a filing to SGX Friday.

First REIT reports 1Q22 net property income climbed 35 percent

  • First REIT reported Friday its net property and other income increased 34.9 percent on-year to S$25.15 million, mainly on the maiden contribution from acquisitions in Japan, which were completed at the beginning of March.

Frasers Logistics & Commercial Trust reports fiscal 1H edged higher

  • Frasers Logistics & Commercial Trust reported Friday its fiscal first half net profit rose 2.1 percent on-year to S$183.60 million on a full six month contribution from acquisitions made in the previous year and from an early surrender fee.

Yanlord Land: April contracted pre-sales down 81 percent by value

  • Yanlord Land said Friday its April total contracted pre-sales from residential and commercial units and car parks, including joint ventures and associates, amounted to around CNY1.47 billion from contracted gross floor area of 40,803 square meters, down 80.8 percent and down 81.8 percent, respectively, from April 2021.

Far East Orchard: 1Q22 swung to net profit despite Omicron surge

  • Far East Orchard reported Friday its first quarter swung to a net profit of S$2.6 million from a year-earlier net loss of S$700,000, partly as the Australian dollar strengthened against the Singapore dollar.

Incredible Holdings plans private placement to raise up to S$39M

  • Incredible Holdings has entered a private placement deal to raise up to S$38.7 million from the subscription sale of 14.09 million new shares and 21.14 million warrants, the company said in filings to SGX Friday and Saturday.

Briefs

Singapore company briefs: No Signboard Holdings, Marco Polo Marine and Keong Hong Holdings. Read more.

Singapore company briefs: UOB, DBS and Xero. Read more.

Singapore companies announcing executive changes: City Developments and Millennium & Copthorne Hotels New Zealand (MCK); and Hyphens Pharma International. Read more.

Singapore substantial shareholder changes: Temasek Holdings and SPH REIT; and Yangzijiang Financial Holdings (YZJFH) and T. Rowe Price Associates. Read more.