Stocks to watch: CDLHT, Olam, ST Engineering, AEM

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

CDL Hospitality Trusts CDLHT): J85 The stapled hospitality group on Tuesday said it entered into a land-purchase agreement and a development-funding agreement to invest in a build-to-rent residential property in Manchester, UK, for £73.3 million (S$136 million). It has also acquired land and buildings in Manchester for a consideration of £9.5 million. CDLHT's stapled securities closed S$0.01 or 0.9 per cent higher at S$1.17 on Tuesday, before the announcement.

Olam International Limited: O32 The agri-business company secured US$5.2 billion worth of loans in part to support its business reorganisation plans, it said on Tuesday. Terms of the three facility agreements include provisions that allow Olam to allocate the facilities to OFI, Olam Global Agri and Olam International operating groups upon the demerger and listing of OFI. Shares of the group ended Tuesday flat at S$1.60, before the announcement was made.

ST Engineering: S63 Sales and marketing veteran Tan Lee Chew was on Tuesday appointed president of the group's commercial business and a member of the group executive committee. With the new appointment, Lim Serh Ghee will relinquish his role as chief commercial officer. The changes will take effect on Sept 1. Prior to the news, shares of ST Engineering closed S$0.01 or 0.3 per cent lower on Tuesday at S$3.78.

AEM Holdings: AWX Temasek's joint head of enterprise development group as well as joint head of strategic development, Russell Tham, has been appointed as AEM's non-executive and non-independent director. AEM in early August said that Mr Tham had been nominated to the company's board of directors. Shares of the group closed Tuesday up S$0.14 or 3.5 per cent at S$4.14, before its latest announcement was made.