Singapore stock watch: Jardine C&C, Singtel, Prime US Reit, Tiong Seng, First Sponsor, Civmec

The Singapore Exchange Centre in Shenton Way.
The Singapore Exchange Centre in Shenton Way.ST PHOTO: KUA CHEE SIONG

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Wednesday (Feb 12):

Jardine Cycle & Carriage (Jardine C&C): The auto dealer's bid to privatise Malaysia-listed Cycle & Carriage Bintang at RM2.20 per share was stymied by shareholders at an extraordinary general meeting on Tuesday. Jardine C&C confirmed it will not proceed with the planned share-capital reduction and repayment exercise. Jardine C&C shares fell $0.19 or 0.65 per cent to $28.89 on Tuesday.

Singtel: Its Thai associate, Advanced Info Service, won on Tuesday in arbitration against Thai telco TOT Public Company's 16.25 billion baht (S$721 million) claim for extra roaming revenue share. But TOT still has three months to file a petition over the decision to dismiss its September 2018 claim. Singtel closed $0.01 or 0.3 per cent higher at $3.30 on Tuesday, before the announcement.

Prime US Reit: Prime US Reit on Wednesday morning called for a trading halt, before announcing that it will acquire an office tower in California for about US$165.5 million. It also posted a distribution per unit of 1.77 US cents for its fourth quarter, 9 per cent higher than its forecast of 1.62 US cents. Gross revenue was US$33.5 million for the quarter, up 2 per cent from a forecast of US$32.9 million, on higher rental income and recoveries income. Units in Prime US Reit closed flat at US$1.02 on Tuesday, before the results were released.

Tiong Seng Holdings: The construction and civil engineering contractor announced on Tuesday that its subsidiaries have bagged contracts for two private-home projects worth $123.9 million in all, taking the group's construction order book to about $1 billion until 2023. Tiong Seng shares were flat at 18.5 cents at Tuesday's close, before the announcement.

First Sponsor Group: Its fourth-quarter net profit jumped 63 per cent to $94.9 million, while group revenue rose 13.5 per cent on an increase in revenue from hotel operations, property financing and the sale of properties. First Sponsor on Wednesday said earnings per share for the quarter stood at 11.75 cents. Shares in First Sponsor last traded at $1.33 on Feb 7.

Civmec: Mainboard-listed construction and engineering group Civmec on Tuesday evening posted a more than tripling in net earnings to A$4.26 million (S$3.96 million) for its second quarter ended Dec 31. Its bottom line was helped by reduced administrative costs and finance expenses. The counter gained 0.5 cent or 1.3 per cent to close at 38 cents on Tuesday.

Roxy-Pacific Holdings: The mainboard-listed property group has taken a 49 per cent stake in a retail building in Tokyo, it disclosed in a bourse filing on Tuesday after trading hours. Shares of Roxy-Pacific ended trading unchanged at 36.5 cents on Tuesday.

OKH Global: The construction and property group's earnings dwindled for its second quarter, as its share of contributions from associates turned negative, according to results on Tuesday evening. Net profit shrank to $54,000 for the three months to Dec 31, down from $3.99 million a year ago, even as revenue stayed flattish at $4.2 million. OKH shares last traded at 1.7 cents on Feb 7.

Thai Beverage Public Co (ThaiBev): Citing the novel coronavirus outbreak, ThaiBev has cancelled a shareholder meeting that was to have been held on Feb 28, the mainboard-listed brewer announced on Tuesday evening. ThaiBev shares closed up $0.015 or 2 per cent to $0.765 on Tuesday.

Axcelasia: The Catalist-listed professional services firm is moving to sell off its Malaysian operating subsidiary to Hong Kong's Tricor Group for RM69.7 million (S$23.4 million), under a deal inked and disclosed on Tuesday night. Axcelasia requested a trading halt at 1.42pm on Tuesday, before lifting it after the market closed. Its shares last changed hands at $0.04 last week.