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Stocks to watch: UOB, SIA, Cambridge Industrial Trust

Thursday, June 22, 2017 - 07:57

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THE following stocks had announcements or developments that may influence trading on Thursday.

United Overseas Bank: United Industrial Corp (UIC), UOL Group and Haw Par Corp, the three property companies that are substantially owned by veteran banker Wee Cho Yaw, called for a trading halt on Wednesday, resurfacing speculation of the potential privatisation of UIC. With the trading halt of these stocks and talk that Mr Wee, chairman of UOB, is about to consolidate his companies, UOB stock is a must-watch.

Singapore Airlines (SIA): The airline has re-clinched the No 2 position in the Skytrax World Airline Awards rankings, according to an announcement on the World Airline Awards website. In addition to taking the coveted second best ranking, SIA was also awarded Best Airline in Asia, Best Business Class Airline Seat, and Best Premium Economy Onboard Catering.

Cambridge Industrial Trust (CIT): Cambridge Industrial Trust Management Limited and Cambridge Industrial Trust will change their names to ESR Funds Management (S) Limited and ESR-REIT, respectively, from Friday. This is to signify the importance of the Reit as part of the e-Shang Redwood Group's (ESR) business activities. e-Shang Infinity Cayman Limited, a subsidiary of ESR, bought the aggregate 80 per cent indirect interest in CIT Management from nabInvest Capital Partners Pte Ltd and CREIM Limited in January.

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