Stocks to watch: FCT, Lendlease Global Commercial Reit, Parkway Life Reit, Jumbo Group, ValueMax
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Jul 1):
Frasers Centrepoint Trust (FCT) : The real estate investment trust (Reit) is divesting White Sands mall for S$467 million, which represents an 8.4 per cent premium over a May 31 independent valuation. The divestment of the Pasir Ris mall is expected to be completed around Sep 30. The manager on Tuesday said it intends to use the estimated net proceeds of about S$454.1 million to repay debt, after accounting for divestment-related expenses of about S$2.8 million. The counter closed at S$2.26 on Tuesday, down 1.3 per cent or S$0.03, before the announcement.
Parkway Life Reit : The manager of the trust on Tuesday said it sold a Japan nursing home property for 1.165 billion yen (US$7.2 million). The figure represents a premium of around 38 per cent over its acquisition price in 2008, and is around 5 per cent above its latest valuation as at Dec 31, 2025. Units of Parkway Life Reit ended at S$4.05 on Tuesday, down 0.7 per cent or S$0.03, prior to the announcement.
Lendlease Global Commercial Reit : Its manager on Tuesday appointed Penelope Ransom, an existing non-independent non-executive director, as the board’s chairperson. Ransom, who has served as a director of the manager since November 2023, will also join the audit and risk committee. She succeeds Justin Gabbani, whose resignation was announced in May. The counter closed at S$0.57, down 0.9 per cent or S$0.005, before the announcement.
Jumbo Group : A wholly owned subsidiary of the seafood restaurant operator and China’s Laoxiangji have agreed to incorporate a joint venture company in Singapore. It will establish and operate Chinese-style quick-service restaurants under the Lausanjee brand in the city-state. Laoxiangji holds the rights to the Lausanjee trademarks and trade names, as well as the franchiser, for Singapore, Jumbo said on Tuesday. The counter closed flat at S$0.27 on Tuesday, before the announcement.
ValueMax : The financial services and pawnbroking company on Wednesday priced the issue of S$80 million notes at 4 per cent, due 2029. The notes have been offered to institutional investors and accredited investors and will be issued on Jul 10. Net proceeds will be used for general corporate purposes, said ValueMax. Shares of ValueMax rose 3.5 per cent or S$0.03 to close at S$0.89 on Tuesday.
