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Stocks to watch: Frasers Centrepoint Limited, Sapphire Corporation
THE following companies made corporate announcements before the beginning of trading on Wednesday:
Frasers Hospitality is rapidly extending its footprint in the UK, snapping up another portfolio of four boutique hotels just six months after acquiring a UK hotel group. The hospitality arm of Singapore-listed Frasers Centrepoint said on Wednesday it has acquired the four hotels through its newly formed subsidiary, Malmaison and Hotel du Vin Property Holdings, from Swire Properties Hotels Holdings for £36.1 million (S$76.4 million).
Sapphire Corporation said on Wednesday it has secured new railway infrastructure contracts in China worth 916 million yuan (S$201 million).