Stocks to watch: CapitaLand Investment, Paragon Reit, UOB Kay Hian, SingPost

THE following companies saw new developments that may affect trading of their securities on Friday (Aug 16):

CapitaLand Investment (CLI): Its wholly owned unit CLI Treasury has priced the offering of S$350 million worth of senior notes due 2035 at a fixed rate of 3.58 per cent. The group said net proceeds from the issue will be used to refinance existing borrowings and fund the investments and general corporate purposes of CLI and CLI Treasury. Shares of CLI ended Thursday at S$2.51, up 0.8 per cent or S$0.02, before the announcement.

Paragon Reit : Unitholders of the real estate investment trust will receive S$0.0185 per unit from a special distribution, following the completion of The Rail Mall divestment on Thursday. The special distribution is expected to be paid on Oct 7, after the record date of Aug 28. Units of Paragon Reit climbed 0.6 per cent or S$0.005 to end at S$0.87, before the announcement.

UOB Kay Hian : The brokerage reported a net profit of S$113.9 million for the six months ended Jun 30, up 64.3 per cent from S$69.3 million in the previous corresponding period. The increase was attributed to strong equity market performance and higher trading volumes in the US, which sustained improved investor activity for the period. Shares of UOB Kay Hian ended at S$1.35 on Thursday, down S$0.02 or 1.5 per cent.

Singapore Post (SingPost): The national postal service provider’s operating profit for the first quarter of the fiscal year rose 105.2 per cent year on year to S$24.4 million from S$11.9 million. Its revenue grew 22.4 per cent to S$494.8 million from S$404.1 million, said the group on Friday in a business update. The counter closed 2.3 per cent or S$0.01 higher at S$0.44 on Thursday.

RE&S : Its shareholders present at the group’s scheme meeting agreed to a proposed acquisition by Relish Investments that would take the company private. Shareholders who accept the offer can opt for either a cash payout of S$0.36 a share, or a combination of S$0.33 a share in cash and 0.083143 of a new share in the special-purpose vehicle. The counter closed flat at S$0.36 on Wednesday before a trading halt. It will resume trading on Friday.

Cordlife Group : The embattled cord-blood bank posted a net loss of S$12.4 million for the six months ended Jun 30, down from a net profit of S$2.2 million in the same period last year. This came as revenue fell 67.5 per cent to S$9.2 million, largely due to the suspension of the group’s Singapore activities. In a separate announcement, Cordlife said it lost its accreditation for cord-blood activities. Shares of Cordlife fell 2.7 per cent or S$0.004 to end at S$0.143 on Thursday, before the filings.

Thomson Medical , OUE Healthcare : Their subsidiaries – FV Hospital and O2 Healthcare – have partnered to establish a surgical centre in Vietnam. The tie-up will enable more Singapore doctors to offer specialised treatments in an underserved part of the region, said both parties. Shares of Thomson Medical closed 2 per cent or S$0.001 higher at S$0.05; shares of OUE Healthcare ended flat at S$0.027 on Thursday, before the news.