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Stocks to watch: Sembcorp, CapitaLand, Frasers Property, SembMarine, Datapulse, Lian Beng
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Sembcorp Industries and CapitaLand: Both groups have struck a partnership to install rooftop solar farms at six of CapitaLand’s properties, they said on Tuesday. There would be no installation cost incurred on CapitaLand's side, making the initiative "a good business case for sustainability", the property developer said. The six CapitaLand properties are held under Ascendas Real Estate Investment Trust (Reit), CapitaLand’s business space and industrial Reit. Sembcorp Industries shares closed down 0.4 per cent or S$0.01 at S$2.41 and CapitaLand's shares were down 1.1 per cent or $0.04 at S$3.68 on Monday.
Frasers Property: It will form a new business unit that will combine its industrial and logistics operations in Australia and Europe. The unit - representing S$5.4 billion in assets under management - will work closely with Singapore-listed Frasers Logistics & Industrial Trust in terms of asset and property management. The new platform is expected to start reporting as a strategic business unit in FY2020. Shares in Frasers Property closed unchanged at S$1.87 on Monday.
Sembcorp Marine (SembMarine): It has lodged a suspicious transaction report with the Commercial Affairs Department of the Singapore Police Force, after revealing last week that its yard in the south-eastern state of Brazil was raided and the facility's former president was involved in a corruption probe. Present investigations involve Martin Cheah Kok Choon, the former president of SembMarine's Brazil unit Estaleiro Jurong Aracruz (EJA), during the time when he was in the employment of the group. On Monday, its shares closed 0.7 per cent or S$0.01 lower at S$1.41 before the announcement.
Datapulse Technology: It will acquire a 5 per cent stake in Bay Hotel Singapore for about S$12.12 million, the disc producer said in a bourse filing on Monday night. Its wholly owned subsidiary Datapulse Investment Pte Ltd (DIPL) has formed a consortium with PAM Holdings I (BVI) Ltd to purchase the hotel. The consortium, through its wholly owned subsidiaries Pamela Prop Pte Ltd and Hasselhoff Op Pte Ltd, is purchasing the hotel from Fiesta Development Pte Ltd and Bay Hotel & Resort Pte Ltd for S$235 million. Datapulse shares closed up 25 per cent or S$0.06 at S$0.30 on July 4, when it called for a trading halt after trading hours. It has requested to lift the halt following this announcement.
Lian Beng Group: United Tec Construction, which is 60 per cent owned by mainboard-listed construction firm Lian Beng Group, has secured a S$234.7 million contract to build a fresh food distribution centre for NTUC FairPrice. The new contract brings Lian Beng's total order book to S$1.5 billion as at July 8, 2019. The orders are expected to support the group’s activities through FY2022. Lian Beng's counter closed unchanged at S$0.485 on Monday, before the announcement.