Stocks to watch: Singtel, CapitaLand Investment, F&N, ThaiBev, Chip Eng Seng

THE following companies saw new developments that may affect trading of their securities on Thursday (Feb 3):

Singtel: Z74 The telecommunications company on Thursday inked a joint development agreement with energy supplier Gulf Energy and mobile phone operator Advanced Info Services Public Company (AIS) to jointly develop and operate data centres in Thailand. According to Singtel, site selection has already commenced for the joint venture (JV) to begin developing the data centres in the coming months. Its shares closed at S$2.43 on Monday, down 1.2 per cent or S$0.03.

CapitaLand Investment Limited (CLI): 9CI The real estate investment manager on Thursday said its wholly-owned lodging business unit, The Ascott Limited, is acquiring a freehold student accommodation asset in Nebraska, US, through a 20:80 JV totalling US$150 million, between Ascott and Riyad Capital. Shares of CLI closed at S$3.45, down S$0.05 or 1.4 per cent on Monday.

Fraser & Neave (F&N), Thai Beverage Public Co (ThaiBev): F99 Y92 F&N has named Hui Choon Kit as its new chief executive officer (CEO) with effect from Feb 1, the company announced on Monday. Prior to this role, Hui was F&N's chief financial officer and company secretary. Meanwhile, F&N CEO (beer) Edmond Neo has stepped down to focus on his brand investment leadership role in ThaiBev. Shares of F&N closed flat at S$1.39 on Monday before the announcement, while ThaiBev's counter ended 0.8 per cent or S$0.005 higher at S$0.655.

Chip Eng Seng: C29 The mainboard-listed property company's wholly-owned subsidiary CES Hospitality (CESH) has entered a JV with Tang Dynasty unit Ariva Hospitality to provide management services to hotels and serviced residences. CESH contributed S$350,000 to CES-Ariva and will own 70 per cent of the JV, while Ariva will contribute S$150,000 within 30 days of the agreement and own 30 per cent. Prior to the announcement, Chip Eng Seng's counter closed at S$0.43 on Monday, up 1.2 per cent or S$0.005.