Stocks to watch: CLI, Aims Apac Reit, Tiong Seng, Union Gas, Creative, Kim Heng

THE following companies saw new developments that may affect trading of their securities on Monday (Jul 04):

CapitaLand Investment Limited (CLI): The group’s wholly-owned lodging business unit The Ascott is acquiring serviced apartment provider Oakwood Worldwide from Mapletree Investments, announced CLI on Monday. While the consideration of the acquisition was not disclosed, CLI expects about 8,500 of Oakwood’s operational units are expected to immediately contribute to Ascott’s recurring fee income streams from Q3 2022. CLI ended Friday S$0.03 or 0.8 per cent lower at S$3.79.

Aims Apac Reit : The real estate investment trust’s manager announced on Monday in a bourse filing that its plan to acquire the property along 315 Alexandra Rd – Sime Darby Business Centre – has fallen through. Units of Aims Apac Reit closed flat at S$1.35 on Friday before the announcement.

Tiong Seng : Its wholly-owned subsidiary Tiong Seng Contractors has entered into an agreement to acquire 51 per cent of the issued and paid up share capital in AMP Systems for an aggregate consideration of S$3.3 million, the group announced on Monday morning. The net loss attributable to the acquisition for the financial year ended 31 December 2021 is S$140,000, it added. The counter closed flat at S$0.128 on Friday.

Union Gas : The company on Friday agreed to further extend the maturity date for S$1 million worth of convertible bonds issued by ADERA AI by three months to Sep 30, 2022, as the latter is in the process of undergoing a public offering and listing on “certain stock exchanges”. Union Gas shares rose 3 per cent on Friday to close at S$0.68, before the announcement.

Creative Technology : The company announced on Friday that it expects its revenue for the second half ended June to fall below target to around US$27 million. The company said H2 FY2022 revenue was negatively impacted by the “uncertain economic conditions resulting from unexpected global events”. Creative shares closed at S$2.09 on Friday, down 2.3 per cent or S$0.05.

Kim Heng : The offshore marine services contractor announced on Friday that its wholly owned subsidiary Adira Renewables has entered into a non-binding memorandum of understanding involving offshore wind farm cable laying installation projects. Shares of Kim Heng closed 1.1 per cent or S$0.001 lower at S$0.091 on Friday, before the announcement.