Stocks to watch: Mapletree Logistics Trust, Oxley, Hong Leong Asia, BH Global

THE following companies saw new developments that may affect trading of their securities on Thursday (Oct 21):

Mapletree Logistics Trust:M44U The real estate investment trust is acquiring a 2-year-old logistics facility in South Korea for 135 billion won (S$153.8 million) to boost its strength in the e-commerce market. The property is estimated to generate a 4.2 per cent net property income yield and is expected to be accretive to its distribution per unit. The counter closed flat at S$1.99 on Wednesday (Oct 20) before the announcement.

Oxley Holdings: 5UX The property group has provided a loan of A$15.6 million (S$15.7 million) to its troubled wholly-owned Australian subsidiary Pindan Group, which is under voluntary administration together with some of its subsidiaries. The loan was used to pay off a secured loan to an Australian lender on Oct 18, said the company on Wednesday (Oct 20). Pindan will repay the loan with the proceeds of the divestment properties now mortgaged to Oxley within 6 months. Shares of Oxley ended trading flat at S$0.205 on Wednesday before the announcement was made.

Hong Leong Asia:H22 Its heavy equipment manufacturing subsidiary, China Yuchai, has agreed to form a joint venture with Beijing Xing Shun Da to research, develop and manufacture fuel cell powertrain systems for on- and off-road applications. The technology developed will be mainly for the Beijing, Tianjin and Hebei markets, the company said on Wednesday (Oct 20). Shares of Hong Leong Asia closed at S$0.835 on Wednesday, up S$0.005 or 0.6 per cent, before the announcement was made.

BH Global: BQN The group on Wednesday (Oct 20) announced that its subsidiary clinched a contract for its first "full electric ready" propulsion system for the hybridisation of a bunker tanker belonging to its strategic partner, Victory Petroleum Trading. A plug-in system to improve energy efficiency will be installed, which will allow a hybrid system to transform to a fully electric one when infrastructure is ready. Shares in BH Global ended flat at S$0.34 on Wednesday, before the announcement was made.