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Stocks to watch: DBS, Sembcorp, Keppel DC Reit, BreadTalk, Alpha Energy
THE following companies saw new developments that may affect trading of their securities on Thursday:
DBS: DBS is gunning for a 7 to 8 per cent annual growth in assets under management (AUM) over the next couple of years, bringing its current AUM base of about S$234 billion to S$300 billion by 2023, its newly minted group head of consumer banking and wealth management business Lim S Sim told The Business Times. Shares of DBS were up three Singapore cents or 1.2 per cent to S$25.25 at Wednesday’s close.
Sembcorp Industries: Sembcorp Industries said on Thursday morning that it will supply solar power to support UBS’s Singapore operations in the next 10 years. This will be done through the sale of all surplus power generated by over 15,000 offsite rooftop solar panels totalling 6.3 megawatt-peak in capacity. These panels will be installed on top of a 40,000 square metre exhibition hall in Singapore by December this year. Sembcorp Industries shares closed at S$2.21 on Wednesday, up six cents or 2.8 per cent.
Keppel DC Reit: The data-centre real estate investment trust (Reit) will be included in the FTSE EPRA Nareit Global Developed Index on Sept 23, its manager said on Wednesday evening. The index, developed by FTSE Russell in collaboration with the European Public Real Estate Association and the National Association of Real Estate Investment Trusts, tracks the performance of listed real estate companies and Reits worldwide. Units of Keppel DC Reit closed at S$1.79 on Wednesday, down three cents or 1.65 per cent, before the announcement.
BreadTalk Group: The Competition and Consumer Commission of Singapore on Wednesday evening said it is inviting public feedback on BreadTalk's proposed acquisition of food-court operator Food Junction Management for S$80 million. This comes after BreadTalk's subsidiary, Topwin Investment Holding, which entered into a sale and purchase agreement for the deal, asked for a decision on whether the transaction would infringe the Competition Act. Its shares closed down 0.5 Singapore cent or 0.78 per cent at S$0.64 on Wednesday.
Alpha Energy Holdings: The Catalist-listed owner and operator of oil assets said on Wednesday night that its S$21.1 million rights issue was oversubscribed. Valid acceptances and excess applications were received for 134.22 per cent of available shares, as at the close of the issue on Sept 5. Of the net proceeds of S$12.1 million, S$8.4 million will be used to pay off a term loan that was used for the Mustang oilfield project's first oil funding needs. Shares of Alpha Energy closed at 1.7 Singapore cents on Wednesday, up 0.1 cent or 6.25 per cent.
Kim Heng Offshore & Marine Holdings: The Catalist-listed offshore and marine firm said on Wednesday after trading hours that its wholly owned subsidiary has secured another horizontal directional drilling contract from a repeat customer. The project is expected to contribute positively to the group's earnings per share and net tangible asset for the financial year ending Dec 31, 2019. Its shares were flat at 4.7 Singapore cents at Wednesday’s close.
Artivision Technologies: The Catalist-listed video solutions provider on Thursday morning requested an immediate trading halt, pending the release of an announcement. Its shares last traded on Tuesday at 0.5 Singapore cent.