Stocks to watch: CapitaLand Investment, CICT, Far East Orchard, Keong Hong, Seatrium

THE following companies saw new developments that may affect trading of their securities on Wednesday (Mar 13): 

CapitaLand Integrated Commercial Trust (CICT) , CapitaLand Investment (CLI) : The manager of the trust and CLI announced on Tuesday that they secured a 10-year tenancy from the European Central Bank (ECB) for their jointly owned 38-storey office building in the Frankfurt banking district. The ECB is expected to become one of the trust’s top 10 tenants. CLI holds a 5.1 per cent interest in the building, while CICT holds the remaining majority stake. Shares of CLI closed S$0.04 or 1.5 per cent higher at S$2.71 and units of CICT were up S$0.01 or 0.5 per cent at S$1.96, before the announcement. 

Far East Orchard : The property group has agreed to buy a plot of land in central Glasgow for £3 million (S$5.1 million). Far East Orchard intends to develop the land into a 273-bed purpose-built student accommodation by 2026. The acquisition is expected to have no material impact on the consolidated net earnings per share and consolidated net tangible assets per share, said the company in an announcement on Tuesday. Shares of Far East Orchard traded flat at S$1.01, before the news.