Edge Invest

Keppel has found a user for another fibre pair for its Bifrost Cable System, which means there is only a remaining fibre pair out of the total of five not spoken for. 

According to Keppel, it has leased the fourth pair to an unnamed "global technology leader" and that it is in "active discussions" for its fifth and final fibre pair. 

Earlier, the company announced that Telstra, Australia's incumbent telco, had signed a 25-year deal.

Beyond Bifrost, Keppel is "progressing well" to finalise the development of its next cable system. 

Vijay Natarajan of RHB Bank Singapore has kept his "buy" call and 66 cents target price on Starhill Global REIT, given its "steady" operational performance, due to a well-balanced mix of master or actively managed leases. 

"The REIT manager exercises prudence in terms of acquisition with minimal equity fund-raising since listing," says the analyst in his June 17 note.

Natarajan sees some positive developments. 

GKE Corporation is moving ahead with its plan to build a logistics facility in the Middle East and taking a longer term view.

First announced on Jan 6, the company had indicated plans to lease a plot within the Jebel Ali Free Zone at Dubai for a 20-year term and to then build a warehouse.

According to GKE, it has since revised the plans where under a non-binding letter of intent, it will sign the lease for a 61,881.28 sqm plot for 25 years, plus the option to renew for another 25 years.

Serena Lim Yi Qi and Paul Chew of PhillipCapital have maintained their upbeat call on sweet potato company Zixin Group after its 2HFY2026 earnings that exceeded expectations.

For the six months to March, Zixin reported earnings of RMB45.4 million, up 29.9% y-o-y, with revenue up 44.3% to RMB386.8 million in the same period on higher sales volumes. This brings its full year FY2026 earnings to RMB61.4 million, up 43.8%, and revenue of RMB607.5 million, up 43%.

UK-based but Singapore-listed satellite company Global Invacom Group plans to raise up to up to $4.9 million via a rights issue to fund business expansion.

Shareholders holding two shares will be entitled to subscribe for a rights share at 3.5 cents each. 

At 3.5 cents, each rights share is a discount of around 51.4% to the June 15 closing price of 7.2 cents, and 41.7% discount to the theoretical ex-rights price of 6 cents.

The issue, which will see some 140 million new shares issued, is managed by RHT Capital. 

Jardine Matheson Holdings will buy back US$500 million of its own shares by the end of next year as the Hong Kong company lays out targets for its transformation from a long-term owner-operator into an active investor more akin to a private equity fund.

Jardine also wants to grow its annual dividend by at least 5% a year through to 2030 and deliver at least 9% annual growth in total shareholder return, it said in a statement Tuesday. 

Alfie Yeo of RHB Bank Singapore remains positive on chocolate maker Delfi for its growth prospects, strong market share and extensive network in its key market Indonesia.

"While we are now more cautious on margins, we continue to anticipate a strong FY2025 to FY2028 earnings CAGR of 10%, driven by market penetration in Indonesia as well as in regional markets. We still regard Delfi as a long-term takeover target, given its strong market share and extensive distribution network across Indonesia," says Yeo, who has kept his "buy" call.

Jonathan Koh of UOB Kay Hian has reiterated his bullish call on UI Boustead REIT for a second time in three weeks, on the premise that the REIT is gaining a distinct edge with its strong presence in the high value, growing aerospace industry.

Just last week, Bombardier announced it is spending $100 million to double its presence here in Singapore. The Canadian company's presence at the Seletar Aerospace Park, or SAP, already includes aircraft hangars and a component repair & overhaul workshop. 

Alyssa Tee of KGI Securities has initiated coverage on Lincotrade & Associates Holdings with an "outperform" call and a target price of 36.6 cents, on the premise that the contractor, sitting on a record order book of $117.2 million - nearly triple that from $39.5 million in June 2024 - is well set for revenue visibility.

Of the existing order book, Tee, citing the company's management, expects around 60% to be recognised in 2HFY2026 and 30% in FY2027.

LHN's 1HFY2026 earnings came in below expectations but given the defensive, recurring nature of its income, UOB Kay Hian analysts Tang Kai Jie and Heidi Mo of UOB Kay Hian have maintained their "buy" call and 71 cents target price.

For the half year ended March, LHN reported revenue of $60.9 million and PATMI of $16.8 million, which were just 44% and 38% of what they forecasted.