Wheelock, HPL trading halt fuels market talk

SHARE trading in both Wheelock Properties (S) and Hotel Properties Ltd (HPL) was halted yesterday, sparking market speculation on what is afoot for the companies. Wheelock has a one-fifth stake in HPL.

Among the few scenarios swirling in the market yesterday, one has it that HPL could be taken private. Alternatively, say market watchers, a long-speculated scenario may finally start to play out: Wheelock could participate in a co-development of some of HPL's prized assets in the Orchard Road belt: such as the Hilton and Four Seasons hotels, Forum and HPL House.

This speculation has been fuelled on and off ever since Wheelock acquired a 21 per cent stake in HPL in 2006 from GuocoLand. It paid $1.80 per HPL share for a total of $171.4 million.