Stocks to watch: CapitaLand, Low Keng Huat, Genting Singapore, Isetan

THE following companies saw new developments that may affect trading of their securities on Monday:

C31: The property player has set up an innovation fund with a S$50 million commitment over five years as part of its sustainability efforts, its chief executive announced at the finale of the inaugural CapitaLand Sustainability X Challenge. The fund will support the test-bedding of sustainability and other high-tech innovations in the built-environment space. The company will also redeploy interest rate savings from its sustainability-linked loans towards its sustainability initiatives. Shares of CapitaLand closed flat at S$3.74 on Friday.

F1E: The property player has entered into agreements to sell its interests in Westgate Tower for S$97.1 million, while buying the remaining 45 per cent of Paya Lebar Square that it does not already own for S$90.5 million, to focus on retail instead of commercial office developments, it said in a Friday bourse filing after trading hours. The buyer of the Westgate Tower stake and seller of the Paya Lebar Square shares are joint venture partners of Low Keng Huat in both properties. Shares of Low Keng Huat closed at 46.5 Singapore cents on Friday, up 0.5 cent or 1.1 per cent.

G13: The operator of Resorts World Sentosa has submitted a bid to build an integrated resort (IR) in Japan's Yokohama City, leading a consortium of Japanese corporates including Sega Sammy Holdings, Sohgo Security Services, Kajima Corp, Takenaka Corp and Obayashi Corp, it said in a Friday press statement after the market closed. Back in early June, a Genting joint venture with Sega Sammy was cited by Japanese media to be one of two qualifying parties for the Yokohama IR request for proposal. Shares of Genting closed flat at 87.5 Singapore cents on Friday.

I15: The departmental store operator has appointed Savills as marketing agent to size up interest to purchase its space at the Wisma Atria shopping mall on Orchard Road, as well as to commence exploratory discussions with third parties on the matter. In a Friday bourse filing after trading hours, the Japanese department store operator added that there is no certainty of any definitive agreement for the sale of Isetan Wisma Atria. Shares of Isetan closed at S$3.93 on Friday, up S$0.01 or 0.3 per cent.

Trading halts: World Class Global and Aspial Corporation on Monday morning requested trading halts, pending the release of the results of the scheme meeting for World Class Global. Shares of World Class Global on Friday closed at 14.8 Singapore cents, up 3.5 cents or 31 per cent. Shares of Aspial were up 0.5 Singapore cent or 4.1 per cent to close at 12.8 cents on Friday.