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Stocks to watch: S-Reits, Global Logistic Properties, Global Yellow Pages, Equation Summit
SHARES of the following companies may be affected by recent events or announcements:
S-Reits make a good defensive yield play despite more volatility in the sector amid growing uncertainty and slowing growth in major economies, brokerages believed, as reported in The Business Times on Tuesday.
Global Logistic Properties (GLP) has secured a site in Sagamihara, Greater Tokyo, which it plans to develop over 655,000 square metres of gross floor area at a total investment cost of 133 billion yen (S$1.6 billion).
Global Yellow Pages' wholly owned subsidiary The Remarkable Residences (TRR) has received approval to construct 225 houses in Queenstown, New Zealand.
Equation Summit proposed to issue redeemable convertible bonds with an aggregate principal value of S$12 million, undertake a capital reduction exercise to the extent of S$135.6 million as at Sept 30, consolidate every 50 existing shares at book closure date into one consolidated share and has entered into a non-binding letter of intent to sell four entities to Bronze Holdings.