Singapore stock preview: DBS Group, Keppel, Thai Beverage

Here are three SGX-ST mainboard stocks to note for the week of 05 April 2021.

  • DBS Group Holdings Ltd (SGX: D05) announced that it was recently appointed as one of the lead coordinators for a US$625 million project financing facility
  • Thai Beverage PCL (SGX: Y92) received a conditional eligibility-to-list letter for the proposed spin-off listing of its brewery unit BeerCo Limited on 01 April 2021
  • One of Keppel Corp Ltd's (SGX: BN4) private fund management units secured a US$360 million separate account mandate
  • Trade Singapore’s most popular stocks with an IG account

DBS Group (SGX: D05)

DBS announced last Thursday (01 April 2021) that it has jointly led a consortium of nine banks to launch a US$625 million project financing structure for Indonesia’s first High Pressure Acid Leach (HPAL) smelter, PT Halmahera Persada Lygend (PT HPAL).

PT HPAL is the first in Indonesia to utilise HPAL technology to manufacture mixed nickel-cobalt hydroxide precipitate (MHP) and nickel sulphate, which are key raw materials for electric battery manufacturing.

In its role as a Lead Coordinator and Mandated Lead Arranger, DBS developed the bankable financing structure for the project to address the challenges in the development stage of the project and exposure to benchmark prices – both of which are inherent in smelting projects.

DBS Group shares opened 1% on Monday (05 April 2021).

Thai Beverage (SGX: Y92)

Thai Beverage (ThaiBev) said on Friday (02 April) that the SGX-ST has issued its conditional eligibility-to-list (ETL) letter for the proposed spin-off listing of its brewery unit BeerCo Limited on 01 April 2021.

‘The ETL letter is not to be taken as an indication of the merits of the proposed spin-off listing, BeerCo Limited or its subsidiaries, or the shares of BeerCo Limited,’the company stated.

The receipt of the ETL letter is one of the requirements which has to be met in order for ThaiBev to proceed with the potential listing.

The proposed listing is also subject to, inter alia, requisite approvals from the relevant regulatory authorities, as well as prevailing market conditions.

Accordingly, there is no certainty or assurance that the proposed listing will materialise in due course, at all, or in the form as described in a 04 February 2021 announcement.

ThaiBev shares rose nearly 4% on Monday morning.

Keppel Corporation (SGX: BN4)

Keppel Corporation shares opened 1.1% higher on Monday, on the back of an announcement last Thursday that one of its private fund management units has secured a major separate account.

Alpha Investment Partners Limited (Alpha), a subsidiary of Keppel Capital Holdings Pte. Ltd., has been awarded a S$360 million separate account mandate from PGGM, a cooperative Dutch pension fund service provider.

The Alpha Asia Separate Account includes a top-up option of up to S$320 million, which would bring the aggregate commitment to S$680 million if the top-up option were fully exercised.

The fund will focus on core-plus opportunities predominantly in commercial real estate in key cities in Japan and China, as well as in Singapore.

‘The abovementioned separate account mandate award is not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corporation Limited for the current financial year,’ Keppel noted.

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