Stocks to watch: OUE Reit, OUE Ltd, Frasers Property, Vicom, UOB

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jun 25):

Frasers Property : The real estate group on Thursday said it is proposing a S$2.1 billion optimisation of its Frasers Hospitality Trust (FHT) portfolio, marking the next stage of its hospitality strategy following the trust’s privatisation last year. The restructuring will, among other things, reverse certain legacy arrangements and bring FHT’s carved-out lease and reversionary interests under a single title ownership. It will also allow Frasers Property to consolidate full ownership of Fraser Suites Singapore, facilitating a potential redevelopment of the Valley Point site. Units of Frasers Property ended flat at S$1.07 on Wednesday.

OUE Reit and OUE Ltd : The manager of the real estate investment trust (Reit) on Thursday said it will divest the Crowne Plaza Changi Airport hotel for S$500 million in a distribution-accretive move to a Tokyo Century-OUE Limited joint venture. The manager of the Reit intends to distribute S$20 million of net cash proceeds to unitholders over the first two years after the divestment. Units of OUE Reit rose 1.4 per cent or S$0.005 to close at S$0.355 on Wednesday, while shares of OUE Limited fell 2 per cent or S$0.02 to close at S$1.