Stocks to watch: Sembmarine, CICT, Mapletree Industrial Trust, Frasers Property, mDR

THE following companies saw new developments that may affect trading of their securities on Friday (Dec 24):

Sembcorp Marine (Sembmarine) S51 : Its wholly-owned subsidiary Jurong Shipyard will be defending its interests in 4 arbitration proceedings from a vendor over equipment supply invoices amounting to US$76 million, announced the group on Friday. Shares of Sembmarine closed S$0.001 or 1.2 per cent higher at S$0.082 on Thursday (Dec 23), before the news.

CapitaLand Integrated Commercial Trust (CICT) C38U: Its manager has entered into an agreement to acquire a 50 per cent interest in an integrated development in Sydney, Australia for A$422 million (S$409.3 million). The move comes shortly after CICT acquired 2 office buildings for A$330.7 million earlier this month, as it looks to make further inroads into Australia. Units of CICT closed up S$0.01 or 0.5 per cent at S$1.98 before the announcement on Thursday.

Mapletree Industrial Trust (MIT) ME8U: Its manager announced that the real estate investment trust has agreed to sell an industrial building at 19 Changi South Street 1 to Esco Micro at a proposed price of S$13 million in cash. The property is held by Mapletree Singapore Industrial Trust, a wholly-owned subsidiary of MIT. The counter closed at S$2.65 before the announcement on Thursday, up S$0.01 or 0.4 per cent.

Frasers Property TQ5: The multinational property company revealed on Thursday that its joint venture (JV) for a potential investment in a land has fallen through. Last month, it said its wholly-owned unit had entered into a framework agreement with an unnamed JV partner to participate in a potential investment in land. The counter closed flat at S$1.14 on Thursday before the announcement.

mDR Y3D: The after-market service provider for consumer mobile products has fired its group chief operating officer Richard Siau amid police and company investigations into suspected misconduct. This followed an announcement on Dec 18, that it discovered 2 separate cases of unauthorised use of the group's marketing incentive rebates at its subsidiaries - 3 Mobile Telecom, A-Mobile and Handphoneshop. Shares of mDR closed up S$0.002, or 3 per cent, at S$0.068 before the announcement on Thursday.

Trading halt: Property developer Hatten Land PH0 has called for a trading halt on Friday morning, pending an announcement. Shares of the counter closed up 4.4 per cent or S$0.002 at S$0.047 on Thursday.