Stocks to watch: CapitaLand, Noble, Blumont

THE following companies saw new developments that may affect trading of their shares on Wednesday:

CapitaLand Limited: The real estate group said in a Singapore Exchange (SGX) filing on Wednesday that it further expands its footprint in Indonesia by investing S$74.3 million in a 192-unit serviced residence, Ascott Sudirman Jakarta. This will be done through its wholly owned serviced residence business unit, The Ascott Limited (Ascott). CapitaLand shares ended 0.81 per cent higher to close at S$3.75 on Tuesday.

Noble Group Limited: Noble Group shareholders on Tuesday approved the sale of its North American gas and power unit to rival Mercuria Energy Group. The sale, which would bring in about US$261 million based on the second quarter results, is expected to help Noble reduce its debt levels. Noble shares edged 3.75 per cent higher to close at S$0.415 on Tuesday.

Blumont Group Limited: Blumont said in an SGX filing on Tuesday night that Siaw Lu Howe, group managing director of Sri Datai Mining Sdn Bhd, has been appointed as interim chief executive officer (CEO) of the company. Mr Siaw will be responsible for implementing the group's strategic plans and overseeing day-to-day operations until a CEO is identified, or if he is re-designated as CEO, as the case may be, the company added. Blumont shares closed at S$0.001 on Tuesday.