Singapore stock preview: Singtel, Sembcorp Industries, CapitaLand

Here are three SGX-ST mainboard stocks to note for the week of 19 July 2021.

Sembcorp Industries (SGX: U96)

Sembcorp Industries (Sembcorp), through its waste management business SembWaste, has unveiled a solar-powered electric vehicle (EV) charging hub at its Tuas depot.

Described as Singapore’s first solar-powered EV charging hub, the new Sembcorp Green EV Charging Hub will serve as a central charging station for Sembcorp’s fleet of waste and recycling electric trucks.

Equipped with state-of-the-art technology, the hub is able to charge up to 18 industrial EVs via four-hour fast-charging cycles and will have the capacity to conduct about 100 electric charging cycles per day.

Sembcorp plans to open the facility for public use by other industrial vehicles by 2022.

The charging hub is part of Sembcorp’s transport decarbonisation efforts in line with the Singapore Green Plan.

Singtel (SGX: Z74)

Singapore Telecommunications (Singtel) announced on Friday (16 July 2021) the issuance of S$1 billion worth of 3.3% subordinated Perpetual Securities under the S$10 billion Guaranteed Euro Medium Term Note Programme of Singapore Group Treasury (SGT).

This announcement is in connection with an earlier news release that SGT had priced S$1 billion of subordinated Perpetual Securities on 07 April 2021, guaranteed by Singtel.

Additionally, the telco said that an advanced tax ruling has been obtained from the Inland Revenue Authority of Singapore for the perpetual securities to be regarded as ‘debt securities’.

This means that the Perpetual Securities ‘should qualify as QDS (qualifying debt securities) and holders of the Perpetual Securities should therefore be able to enjoy the tax exemptions and concessions available under the QDS scheme subject to the conditions as set out in the section "Taxation – Singapore Taxation" of the offering circular dated 2 November 2020 in respect of the Programme.’ the group stated.

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CapitaLand (SGX: C31)

CapitaLand announced on Friday that the Singapore Exchange Securities Trading Limited (SGX-ST) has granted a conditional eligibility for the listing of shares of a previously proposed real estate investment manager (REIM) on the Main Board of the SGX-ST by way of an introduction.

The property group, together with CLA Real Estate Holdings, announced on 22 March 2021 that it is planning to restructure its business by consolidating its investment management platforms and lodging business into CapitaLand Investment Management (CLIM).

The proposed scheme of arrangement will see a capital reduction exercise by CapitaLand Ltd to distribute approximately 48.24% of CLIM shares, as well as approximately 6% of the units in CapitaLand Integrated Commercial Trust, to all shareholders in a one-for-one distribution scheme.

There will also be an acquisition made by CLA Real Estate Holdings, the offeror, of all the issued and paid-up ordinary shares in the capital of CapitaLand Ltd, excluding those that CLA already holds.

CapitaLand will then be delisted upon the proposed restructuring’s approval.

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