Stocks to watch: ARA H-Trust, JB Foods, ComfortDelGro, ALog Trust, ESR-Reit, Ascent Bridge

Tan Nai Lun

Published Thu, Mar 17, 2022 · 08:16 AM

THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 17):

ARA US Hospitality Trust (ARA H-Trust): XZL Managers of the stapled group on Thursday proposed to sell Hyatt Place Chicago Itasca for about US$7.75 million, which represents a slight 0.6 per cent discount to the asset’s independent valuation of US$7.8 million as at end-2021. Net proceeds will be used to pare down existing bank borrowings to improve ARA H-Trust’s aggregate leverage ratio aside from general working capital requirements. Stapled securities of the trust ended Wednesday unchanged at US$0.48.

JB Foods: BEW The cocoa products company expects its business in Russia to be negatively impacted in the short term, due to the massive devaluation of the Russian rouble and supply chain disruption from the ongoing conflict, although it will unlikely face any immediate demand destruction, it said on Wednesday. Shares of JB Foods ended Wednesday flat at S$0.46, before the announcement.

ComfortDelGro: C52 The transport operator on Wednesday announced that it has appointed Cheng Siak Kian, the chief executive of SBS Transit, as its group deputy chief executive officer (CEO). His appointment takes effect immediately. Shares of ComfortDelGro closed on Wednesday at S$1.40, up 2.9 per cent or S$0.04, before the announcement.

Ara Logos Logistics Trust (ALog Trust) and ESR-Reit: K2LU J91U Adrian Chui, CEO of ESR-Reit's manager, will be the CEO of the manager of the combined entity following the merger of ESR-Reit and ALog Trust, the trust said on Wednesday. Karen Lee, the CEO of ALog Trust's manager, will join the manager of the combined entity as its deputy CEO. Units of ESR-Reit closed flat on Wednesday at S$0.42, while units of Alog Trust fell 1.2 per cent or S$0.01 to close at S$0.82, before the announcement

Ascent Bridge: AWG AEI Corporation has changed its name to Ascent Bridge Limited, and is now eyeing the growth of its alcoholic beverages business after completing the acquisition of MTBL Global for a price tag of about S$17 million. MBTL is primarily engaged in the promotion, sale and distribution of Moutai Bulao 125 ml liquor products outside mainland China. Shares of Ascent Bridge closed flat at S$1.00 on Wednesday.