Stocks to watch: CapitaLand Investment, Yangzijiang Shipbuilding, Olam

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

CapitaLand Investment (CLI): The real estate manager said on Thursday that its chief executive officer of private equity real estate, Simon Treacy, will be stepping down from his role from Oct 31 for “personal reasons”. The group’s CEO Lee Chee Koon will concurrently lead as CEO of private equity real estate. Treacy will be senior adviser to Lee from Nov 1. Shares of CLI closed 0.7 per cent, or S$0.02 higher at S$2.87, before the announcement.

Yangzijiang Shipbuilding : The mainboard-listed shipbuilder said on Thursday that it is acquiring a 34 per cent stake in Tsuneishi Group (Zhoushan) Shipbuilding, a wholly owned subsidiary of Japanese shipyard Tsuneishi Group, for a consideration of 833.1 million yuan (S$158.3 million). The consideration will be paid in cash and be funded from Yangzijiang’s internal resources. The counter closed 1.2 per cent or S$0.03 higher at S$2.48, before the news.