Companies & Markets

Stocks to watch: GLP, Cambridge Industrial Trust, Fortune Reit, UG Healthcare

Published Mon, Dec 8, 2014 · 01:37 AM

THE following stocks made announcements that could affect trading on Monday.

Global Logistics Properties Ltd: GLP is teaming up with Singapore investment firm GIC to buy a US$8.1 billion logistics portfolio in the US, which it said would give it "immediate" scale in the world's largest logistics market.

The portfolio, comprising 117 million square feet in total gross floor area, is spread across 36 major sub-markets in the US. Currently owned by various portfolio companies affiliated to private equity firm Blackstone Group, it was 90 per cent leased as at Sept 30, with a weighted average lease expiry of 3.2 years.

The counter last closed at S$2.63 on Friday

Cambridge Industrial Trust: CIT is acquiring a business park for S$28 million, in its first foray into the space.

The business park in Jurong East - 16 International Business Park - has three storeys, with a mezzanine and a basement carpark. It has a gross floor area of about 6,434 square metres and a remaining land lease of about 41.6 years, and is located near the Jurong East MRT station, the Pan Island Expressway and the Ayer Rajah Expressway.

CIT last closed at 68 Singapore cents on Friday.

Fortune Reit: It is buying Laguna Plaza, a shopping mall in Hong Kong, for HK$1.9 billion (S$324.2 million).

Located in Kowloon, Laguna Plaza has an occupancy rate of 72.7 per cent as at Oct 31, and including new leases, a committed occupancy rate of 96.7 per cent as at the announcement date on Monday.

The counter last traded at HK$7.56 on Friday.

UG Healthcare: It starts trading on Monday. The Malaysia-based company, which makes and distributes natural latex and nitrile examination gloves, has offered 28.8 million shares to raise about S$4.2 million in net proceeds. Of these, 1.8 million shares were set aside for public subscription.

It intends to use the funds raised to expand production capacity and its sales and distribution network, undertake research and development, and as general working capital.