Stocks to watch: Frasers Property, Frasers Hospitality Trust, Sembmarine

THE following companies saw new developments that may affect trading of their securities on Tuesday (Jun 14):

Frasers Property and Frasers Hospitality Trust (FHT): Frasers Property Hospitality Trust Holdings, a wholly-owned subsidiary of Frasers Property, on Monday proposed to privatise FHT through a trust scheme of arrangement, by acquiring all of FHT’s stapled securities at a scheme consideration of S$0.70 each in cash. After both counters resumed trading post their announcements on Monday, shares of Frasers Property ended 1.8 per cent or S$0.02 lower at S$1.08, while stapled securities of FHT closed up 4.6 per cent, or S$0.03, at S$0.69.

Sembcorp Marine (Sembmarine): The group has bagged a US$150 million EPC (engineering, procurement and construction) contract for a newbuild support vessel which will be deployed by the Brazilian Navy for scientific research in the Antarctic. In a press statement on Tuesday, Sembmarine said construction will commence in 2022, and is scheduled to complete in Q3 of 2025. Sembmarine ended Monday down S$0.005 or 4.2 per cent at S$0.114.