Stocks to watch: Olam, Elite Commercial Reit, Great Eastern, OCBC
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Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Monday (Mar 4):
Olam Group : Its 64.5 per cent-owned subsidiary Olam Agri acquired Avisen, a feed supplier in Senegal, for 17 million euros (S$24.8 million). On Monday, Olam said it expects the acquisition, which is funded from a combination of existing cash and debt facilities, to be earnings accretive from 2024. The counter ended Friday flat at S$0.98.
Elite Commercial Reit : The UK-focused Singapore real estate investment trust (Reit) has secured up to £135 million (S$229.7 million) worth of debt facilities from a group of financial institutions to refinance its existing loans. On Monday, its manager said the credit facilities will enable the Reit to efficiently manage its working capital. Units of the Reit closed unchanged at £0.25 on Friday.
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