Stocks to watch: CapitaLand India Trust, Singapore Airlines, Asian Pay Television Trust

THE following companies saw new developments that may affect trading of their securities on Monday (Jul 8):

CapitaLand India Trust (Clint): Fitch Ratings has assigned Clint a first-time long-term issuer default rating of “BBB-” amid a stable outlook, announced the trust on Monday. The rating came on the back of Clint’s “high-quality” portfolio of offices in India, which Fitch expects to sustain high occupancy rates and positive rental reversions. Units of Clint ended 2 per cent or S$0.02 lower at S$1 on Friday.

Singapore Airlines (SIA): The national flag carrier and Garuda Indonesia have received approval from the Competition and Consumer Commission of Singapore for a joint venture agreement. This would allow them to collaborate on a wider range of commercial activities that will benefit both airlines, said both companies on Friday. Shares of SIA closed at S$6.98, down S$0.03 or 0.4 per cent, before the announcement.

Asian Pay Television Trust (APTT): Its trustee-manager on Friday announced a major renewal of its board, with chief executive Brian McKinley stepping down from his role on Jul 31. He will be succeeded by chief financial officer Somnath Adak, who will become the new CEO from Aug 1. Units of APTT closed flat at S$0.077, prior to the news.