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Stocks to watch: Singtel, Keppel, GuocoLand, AEM, Thakral, SIA, Lian Beng, LMIRT, Metech
THE following companies saw new developments that may affect trading of their shares on Monday:
Singtel: The telco has joined forces with Grab Holdings to apply for a digital full bank licence in Singapore, with an aim of tapping “unmet and underserved” needs from digital-first consumers and the small and medium-sized enterprises space. In a joint press statement on Monday, they said ride-hailing and fintech firm Grab will hold a 60 per cent stake in the consortium, with Singtel holding the remaining 40 per cent. Shares of Singtel closed unchanged at S$3.37 on Friday.
Keppel Corporation: From Jan 1, Keppel Bay Tower will become Singapore's first commercial building to be fully powered by renewable energy, said Keppel on Sunday. Keppel's property arm Keppel Land is the owner and operator of Keppel Bay Tower. Some 400 sq m of solar panels will be installed on the roof of the 18-storey building and its six-storey podium block. When completed in the first quarter of 2020, this photovoltaic system is expected to have an annual energy yield of about 100,000 kwh. Shares of Keppel closed down S$0.02 or 0.3 per cent to S$6.73 on Friday.
GuocoLand: A joint venture (JV) of GuocoLand and Hong Leong Holdings (China) (HLHC) will acquire and develop four land parcels in Chongqing, China, for residential use. This comes after Chongqing municipality awarded the construction land use right for the plots to the JV, GLL Chongqing 18 Steps Pte Ltd, at a bid price of 1.68 billion yuan (S$325.2 million), GuocoLand said in a filing on Friday night. GuocoLand owns a 75 per cent interest in the JV while HLHC holds a quarter stake. Shares of GuocoLand closed flat at S$1.95 on Friday before the announcement.
AEM Holdings: The mainboard-listed firm is acquiring French semiconductor test solutions provider Mu-TEST for 7.5 million euros (S$11.3 million), it announced on Dec 28. AEM, which provides advanced chip testing solutions, said that Mu-TEST's customisable low-cost tester capabilities complement its own solutions, allowing AEM to offer complete system level test solutions for the semiconductor and electronics industries. AEM shares closed up S$0.01 or 0.5 per cent to S$1.89 on Friday.
Thakral Corporation: The mainboard-listed firm has invested in an 11-storey office building in Osaka, adding to its portfolio of properties in Japan, it said in a bourse filing on Monday. The property, Umeda Pacific Building, sits on 861 square metres (sq m) of freehold land, and has a gross floor area of 9,179 sq m and a net rentable area of 6,359 sq m. Shares of Thakral closed up S$0.015 or 3.1 per cent to S$0.495 on Friday.
Singapore Airlines (SIA): The chief executive officer of its budget carrier Scoot, Lee Lik Hsin, said in an interview published on Monday that Scoot will return to double-digit capacity growth in the next financial year as it takes delivery of new aircraft. This comes after the worldwide grounding of Boeing's 737 MAX 8 fleet, which prompted it to cut capacity growth. In the current financial year ended March 31, 2020, capacity injection will drop to 6 per cent from 15 per cent in the previous year, but will go back to 15 per cent in the next financial year. Shares of SIA closed down S$0.01 or 0.1 per cent to S$9.07 on Friday.
Lian Beng Group: The contractor announced after trading hours on Friday that its 60 per cent-owned subsidiary, United Tec Construction, has secured a contract through tender for a residential project worth about S$178 million. The proposed residential flat development will comprise two blocks of 37-storey apartments (total 640 units) with a childcare centre and two levels of basement car parks, swimming pool and communal facilities on Lot 5455 MK3 at Clementi Avenue 1. Lian Beng's shares closed up S$0.01 or 2 per cent to S$0.515 on Friday.
Lippo Malls Indonesia Retail Trust (LMIRT): It announced on Friday that it will be shaking up its board of directors and board of committees with effect from Dec 31, 2019. Ketut Budi Wijaya will leave his roles as chairman, non-independent non-executive director of the board, and as a member of the nominating and remuneration committee (NRC). He will be succeeded by lead independent director Murray Dangar Bell as chairman. Mr Bell remains a member of the audit and risk committee and NRC. LMIRT units closed up S$0.005 or 2.3 per cent to S$0.225 on Friday.
Metech International: The Singapore Exchange Regulation served notice to Catalist-listed Metech on Friday after trading hours, requiring the company to reconvene an extraordinary general meeting to vote on the resolution to re-elect chairman, group chief executive officer and controlling shareholder Simon Eng as director. Shares of Metech closed down S$0.001 or 0.9 per cent to S$0.115 on Friday.
Mapletree Logistics Trust (MLT): Its manager has appointed Mapletree long-timer Charmaine Lum Sheh Min as chief financial officer with effect from Jan 1, 2020. Units of MLT closed unchanged at S$1.73 on Friday.