Tuesday, May 17, 2016

MapletreeLog, Hyflux, Cosco, Ntegrator, Singapore Myanmar Investco, FCL

Here are some stocks that could move the market this Tuesday morning.

Mapletree Logistics Trust is planning to issue $250 million fixed rate perpetual securities. The securities, which will be issued in the denomination of $250,000, will be perpetual and will confer a right to receive distribution payments at a rate of 4.18% per annum with the first distribution rate reset falling on 25 November 2021 and subsequent resets occurring every five years thereafter. Mapletree Logistics Trust closed at 98 cents.

Water company Hyflux is offering up to $300 million in perpetual capital securities. The issue price of the securities is set at $1 each with a distribution payment rate of 6% per annum. Hyflux closed 3.45% lower at 56 cents on Monday.

Cosco Corporation (Singapore) says the delivery of another jack-up drilling rig by its Nantong unit will be delayed. Cosco Corp said that unit Cosco (Nantong) Shipyard Co and KS Drilling have agreed to further extend the time for delivery of the undelivered rig from April 30 to end Dec 2017. The rig is one of two to be built in a contract between the two groups. Meanwhile, Cosco (Zhoushan) Shipyard Co has delivered an 111,000 dwt oil tanker to its European buyer. Cosco Corp closed flat at 32 cents.

Ntegrator International, the regional communications network specialist and systems integrator, has won five contracts worth $11 million. Two of the contracts were awarded by the group’s repeat customer Viettel, Vietnam’s largest mobile network operator, for the supply of high-performance batteries. Ntegrator last traded at 1.3 cents.

Singapore Myanmar Investco has signed a franchise agreement with Crystal Jade Management Vietnam to operate and manage the Crystal Jade Group restaurants in Myanmar. Crystal Jade Group specialises in Chinese cuisine and owns and operates more than 100 outlets in 20 cities in the Asia Pacific region and in the United States. SMI shares last traded at 39 cents.

Frasers Centrepoint Limited has received the eligibility-to-list (ETL) letter for the proposed initial public offering and listing on the SGX of the units in the REIT to be known as Frasers Logistics & Industrial Trust (FLT) which will hold a portfolio of Australian industrial assets. Shares of FCL closed 0.91% lower at $1.62.

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