Stocks to watch: Straits Trading, OCBC, ComfortDelGro, ALog Trust, ESR-Reit, Maxi-Cash

THE following companies saw new developments that may affect trading of their securities on Tuesday (Jan 18):

Straits Trading Company: S20 The mainboard-listed conglomerate is raising S$80.9 million through a private share placement of 26 million ordinary shares at S$3.11 apiece. This will increase the free float of Straits Trading to 29.82 per cent from 25.33 per cent previously and is expected to provide a corresponding increase to trading liquidity, said the group on Tuesday morning. The counter closed at S$3.40, down 0.3 per cent or S$0.01, on Jan 13, before it called for a trading halt the following morning. Its shares resume trading on Tuesday.

OCBC: O39 The bank has announced that it has made goodwill payouts to more than 30 customers who fell prey to the recent SMS phishing scam impersonating the bank. Almost 470 customers have lost a total of S$8.5 million since December 2021. OCBC shares closed at S$12.30, down S$0.03 or 0.2 per cent on Monday.

ComfortDelGro: C52 The transport operator commenced work on New Zealand's Auckland Rail Franchise on Monday, through Auckland One Rail, a joint venture with Australia-based rail company UGL Rail Services. The New Zealand unit had taken over the whole share capital of the network's previous operator, Transdev Auckland. ComfortDelGro's shares closed at S$1.39, up by S$0.03 or 2.2 per cent, before the announcement.

Ara Logos Logistics Trust (ALog Trust) and ESR-Reit: K2LU J91U ALog Trust unitholders have been recommended to vote against the merger of the 2 real estate investment trusts (Reits) by proxy advisers Institutional Shareholder Services and Glass Lewis. The 2 Reits had proposed to merge in a S$1.4 billion merger deal in October 2021. Shares of ALog Trust closed flat at S$0.87, while ESR-Reit's counter rose S$0.005 or 1.1 per cent to S$0.475 when the market closed on Monday, before the news.

Maxi-Cash Financial Services: 5UF The Catalist-listed pawnbroker will be launching another S$36.75 million in Series 003 Notes, the board announced on Monday. The new set of 6.05 per cent notes due 2025, to be issued on Jan 24, brings up the final aggregate principal amount of the Series 003 Notes to S$60 million. Prior to the announcement, the counter closed flat at S$0.171.

Chip Eng Seng: C29 The mainboard-listed property developer has appointed Law Cheong Yan as the new group chief corporate officer and chief operating officer for its education division, and Kenny Yong Shan Siong as its group chief financial officer. These appointments are effective from Monday, the company said in a bourse filing. Its shares closed at S$0.425, up S$0.01 or 2.4 per cent, before the announcement.