Stocks to watch: UOB, Singapore Airlines, Jardine Strategic, Jardine Matheson, FLCT

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

UOB: Singapore's third-largest bank told The Business Times that it will launch a round of promotions for a select number of staff in June. It will also offer pay increments for most of the banking group's headcount and has lifted a hiring freeze put in last year. Senior management are excluded from this "broad-based" mid-year exercise. UOB shares closed at S$25.68 on Monday, up S$0.23 or 0.9 per cent.

Singapore Airlines (SIA): The national carrier on Monday said if its trial in using the International Air Transport Association's Travel Pass software is successful, it will be able to use the trial framework for its own SingaporeAir mobile app as early as mid-2021. This potentially paves the way for travel without stay-home notices and quarantine. SIA shares closed flat at S$5.15 on Monday.

Jardine Strategic Holdings, Jardine Matheson Holdings: Analysts have noted the offer price of US$33 for Jardine Strategic is at a significant discount to its net asset value for a done deal through which the Jardine empire will untangle its decades-old cross-holding with Jardine Matheson buying out the remaining stake in Jardine Strategic. Shares of both companies hit 52-week highs on Monday. Jardine Matheson was up 15.5 per cent or US$8.31 to US$62, while Jardine Strategic closed 19.5 per cent higher or US$5.35 at US$32.80.

Frasers Logistics & Commercial Trust (FLCT): The trust's manager will carry out a facade upgrade in mid-2021 for Central Park, an office building in Perth's central business district. The trust's share of the project value, based on its 50 per cent ownership in the property, is estimated at A$33.2 million (S$34.3 million). FLCT units closed at S$1.37 on Monday, up S$0.03 or 2.2 per cent, before the announcement.

ESR-Reit: The real estate investment trust's trustee has entered into a S$320 million unsecured loan facility agreement with UOB, Malayan Banking Berhad (Singapore Branch), RHB Bank Berhad and HSBC. Proceeds will be applied towards general corporate funding purposes, including but not limited to refinancing existing debts, and funding the acquisition or enhancement of assets. ESR-Reit units closed at 38 Singapore cents on Monday, up 0.5 cent or 1.3 per cent, before the announcement.

Grand Venture Technology: The manufacturing solutions and service provider has executed a letter of acceptance for the purchase of a property in Malaysia for RM19.4 million (S$6.4 million). The property has a land area of about 74,056 square feet (sq ft) and a factory area of 65,076 sq ft. Shares of Catalist-listed Grand Venture closed at 50 Singapore cents on Monday, up 0.5 cent or 1 per cent, before the announcement.