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Stocks to watch: Hiap Hoe, Singapore Reits, SIA
THE following stocks had announcements or developments that may influence trading on Friday.
Hiap Hoe: Property company Hiap Hoe on Friday announced that it has signed a sale and purchase agreement to buy Holiday Inn Express in Trafford City, Mercury Way, Manchester, from Topland (No. 18), Mill Lane Estates, and Marick Capital. The purchase price of £26.3 million (S$46.2 million) will be fully funded through a combination of internal resources and debt.
Singapore Reits: These rate-sensitive instruments bear watching after the US Federal Reserve on Thursday morning raised interest rates to the 1-1.25 per cent range.
Singapore Airlines: The merger between Scoot and Tigerair is slated for completion on July 25, after which Tigerair flights will operate under the Scoot banner. Efforts to merge the two budget carriers - which are both owned by Singapore Airlines (SIA) - kicked off in May 2016, after the parent airline announced that the two low-cost carriers would be parked under a single holding company known as Budget Aviation Holdings.