Stocks to watch: Sembcorp, SingPost, ESR-Reit, CDL, Sin Heng

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Mar 14). 

Sembcorp Industries : A deal inked by one of Sembcorp Industries’ subsidiaries to import natural gas from Indonesia has fallen through after regulatory approval was not obtained. The agreement between Sembcorp Gas, West Natuna Exploration, Empyrean Energy and Coro Energy Duyung to import up to 111 billion British thermal units per day of piped natural gas from the Mako gas fields in Indonesia was first announced in September 2023, with gas delivery set to commence from 2026, but Indonesia regulatory approval was not received. Sembcorp Industries said on Thursday that the announcement is not expected to have a material impact on its earnings and net tangible assets per share for the financial year ending Dec 31, 2025. Shares of Sembcorp Industries closed 0.7 per cent or S$0.04 higher at S$6.09, before the announcement.

Singapore Post (SingPost) : Of the shareholders who voted in favour of the sale of the Australian logistics business Freight Management Holdings (FMH) on Thursday, 99.9 per cent supported the divestment. The sale of the business to Australian private equity firm Pacific Equity Partners will reap A$775.9 million (S$651.8 million) in gross proceeds and a capital gain of about S$289.5 million. SingPost’s board said that it will consider paying a special dividend with the proceeds. The sale of FMH now leaves the group with the Singapore postal and e-commerce logistics business and the international e-commerce logistics business. The board announced plans to invest S$30 million to install a new, fully automated e-commerce parcel sorting equipment at its regional e-commerce logistics hub in Tampines by mid-2026. It will also vacate some 83,000 square feet of lettable industrial space at the SingPost Centre in Paya Lebar. SingPost shares settled 2.7 per cent or S$0.015 higher at S$0.565 on Thursday, after the proceedings ended.