Singapore stock watch: UOB, ThaiBev, Koufu, Frasers Property, UOI, Yanlord, Oxley

The Singapore Exchange Centre in Shenton Way. PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their securities on Thursday (Dec 19):

United Overseas Bank (UOB): The bank on Wednesday said it is buying more shares in troubled Chinese mid-sized lender Hengfeng Bank Co, with a subscription of 1.86 billion shares for a sum of 1.86 billion yuan (S$360.4 million). The subscription is part of Hengfeng Bank's capital-increase exercise through private placement to raise 100 billion yuan. UOB shares rose 34 cents or 1.3 per cent to $26.58 on Wednesday before the announcement.

Thai Beverage Public Co (ThaiBev): The company has clarified that it is not seeking a buyer for its business in Vietnam. In a regulatory filing on Wednesday, the company said that recent claims made by the international leading press and the local news media in Vietnam are "false and without merit". ThaiBev shares closed flat at 89.5 cents on Wednesday.

Koufu Group: The group's subsidiary Super Tea has entered into a joint venture to develop, manage and operate food and beverage outlets under the proprietary marks of Super Tea in Indonesia, it said on Wednesday. Super Tea will use 5.5 billion rupiah (S$540,000) to subscribe for 55 per cent of the equity interest in the joint venture, with partner PT Berkah Cipta Adirasa taking up the remaining 45 per cent stake. Koufu shares closed flat at $0.785 on Wednesday.

Frasers Property: The real estate group on Wednesday picked up 620,400 shares of Frasers Property Thailand (FPT) on the open market at an average price of 15.04 baht through wholly-owned subsidiary Frasers Property Holdings (Thailand). In Singapore, FPL shares rose two cents or 1.18 per cent to $1.71 on Wednesday.

United Overseas Insurance (UOI): The general insurance arm of UOB on Wednesday said it plans to buy the office property located at 146 Robinson Road, also known as Overseas Union Trust Building, from UOB for $52 million. The property will be UOI's first real estate investment, and it intends to move its own operations into the premises. The counter last traded at $7.08 on Dec 17.

Yanlord Land Group: The real estate developer on Wednesday said it has sold out all 149 apartment units put on sale at the Phase 2 launch of the Yanlord Riverside Gardens in Hangzhou over the weekend. Total contracted presales derived from this launch amounted to about 2.09 billion yuan (S$405 million). Yanlord shares rose one cent or 0.86 per cent to $1.17 on Wednesday.

Oxley Holdings: The developer's joint-venture company, Peninsular Teamwork, has granted developer Grand Place Development the rights to develop the freehold vacant land of 6.1588 hectares in Negeri Selangor, Malaysia. Landowner Peninsular Teamwork is 50 per cent held by Oxley. Oxley shares rose half a cent or 1.43 per cent to $0.355 on Wednesday.

Japfa: The mainboard-listed agri-food firm has proposed to undertake a renounceable non-underwritten rights issue on the basis of one rights share for every 10 existing ordinary shares, at an issue price of $0.50 for each rights share. If fully subscribed, the rights issue will raise net proceeds of $93.5 million, it said on Wednesday. Japfa shares closed at $0.575 on Wednesday, down one cent or 1.7 per cent.

Tee International: The mainboard-listed group has won new contracts for engineering and construction works worth about $20 million, it said on Wednesday. Its outstanding order book stands at $364 million to date. Tee International shares fell 0.1 cent or 1.72 per cent to $0.057 on Wednesday.

Procurri: The mainboard-listed data centre services firm has entered into a "strategic relationship" with Ingram Micro Commerce & Lifecycle Services to offer a complete global IT asset disposition (ITAD) solution, it said on Wednesday. The partners will work together to offer ITAD, asset recovery and recycling services in over 80 countries. Procurri shares closed flat at $0.48 on Wednesday.

NauticAWT: The oil and gas engineering group has entered into a share purchase agreement on Wednesday with Rich Restaurant Company's sole director Kritsada Tunpow, to acquire a 35 per cent stake in the Thai restaurant operator for 70 million baht (S$3.1 million). NauticAWT shares last traded at one cent on Nov 11, down 0.2 cent or 16.7 per cent

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