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Stocks to watch: Noble, Frasers Logistics & Industrial Trust, Trendlines, Q&M
Noble Group Ltd is asking lenders to extend a key credit facility until the end of the year as the embattled commodity trader seeks breathing room to negotiate its future. The company's core banks have hired law firm Clifford Chance LLP to advise them amid crisis talks over a US$2 billion credit facility that expires this month, sources told Bloomberg.
Frasers Logistics & Industrial Trust
The trust will be making its first portfolio acquisition of seven major industrial assets in Australia for about A$169.3 million (S$175.1 million) from Frasers Property Australia.
The portfolio, which comprises four completed properties and three properties under development, has a weighted average lease expiry of 9.6 years. All properties are fully leased or precommitted.
Twenty per cent of the assets are located in Sydney, 60 per cent are in Melbourne and the remainder in Brisbane.
The Catalist-listed company will sell its BioSight Ltd shares to Arkin Bio Ventures Limited Partnership that will garner pretax proceeds of about US$1.3 million.
The Israeli investment and innovation commercialisation company said the transaction is expected to be completed within 14 business days from the signing of the agreement.
It added that proceeds from the exit serve to further strengthen the group's cash position.
THE dental services provider has said it was looking to deepen its presence in China through a joint venture partnership strategy with IE Singapore.
IE Singapore will introduce partners, facilitate discussions with partners across the value chain, including dental clinics, hospitals and equipment suppliers, and engage city and provincial governments closely. It will also support Q&M to expand its offerings across the entire dental service value chain, adding to their vision to become the leading integrated dental healthcare group in Asia.