Stocks to watch: Hi-P, Keppel-KBS US Reit, First Ship Lease Trust, Asian Pay Television Trust, Thai Bev

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

SINGAPORE - The following companies saw new developments which may affect trading of their shares on Tuesday (NOV 27):

Hi-P International: A controlling shareholder of contract manufacturer Hi-P International is considering a deal, which could lead to a play for the rest of the stock, the company announced early Tuesday in response to a trading query from the Singapore Exchange. "Subsequent to the unusual share trading" on Monday, "the company understands that a controlling shareholder of the company is considering a possible transaction involving the shares of the company which may or may not lead to a transaction for the shares of the company", Hi-P said. "However, to-date, the company has not been approached by any party regarding any transaction involving the shares of the company."

Keppel-KBS US Reit: Keppel-KBS US Reit's (real estate investment trust) manager announced on Tuesday that it will be acquiring Maitland Promenade I, an office property located in the Maitland submarket of Orlando, Florida, for US$48.5 million from The Realty Associates Fund X. Maitland Promenade I will be Keppel-KBS US Reit's second asset in Florida and is adjacent to Maitland Promenade II, which the Reit owns.

First Ship Lease Trust: First Ship Lease Trust's (FSLT) manager on Tuesday proposed a non-renounceable preferential offering of 956 million new units in FSLT at an issue price of $0.045 per new unit to raise up to $43.03 million. The new units will be offered at the ratio of three rights units for every two existing units in FSLT. The issue price of $0.045 per new unit is a discount of 31.8 per cent to the closing price of $0.066 per unit in FSLT on the Singapore Exchange on Nov 26, it being the last trading day of the units prior to the announcement.

Asian Pay Television Trust: Asian Pay Television Trust (APTT) on Monday night announced that it has refinanced its existing onshore borrowing facilities and extended its offshore borrowing facilities. As part of its focused debt management programme, the trust refinanced its existing NT$29 billion (S$1.3 billion) borrowing facilities with new seven-year facilities of NT$31 billion. It also extended the maturity date of its existing offshore facilities from July 2019 to July 2021.

Thai Beverage: Thai spirits maker Thai Beverage has posted a full year net profit of 18.53 billion baht (S$77 million) for 2018, down 46 per cent from last year, on the back of lower profits across its spirits, beer and non-alcoholic beverage businesses. ThaiBev's basic and diluted earnings per share were 0.74 baht, down 46 per cent.

Miclyn Express Offshore has requested a trading halt, pending the release of an announcement.