Stocks to watch: CDL, Frasers Property, ESR-Logos Reit, Sabana Reit, Centurion, LHN

THE following companies saw new developments that may affect trading of their securities on Thursday (Apr 11):

City Developments Ltd (CDL): The property developer’s subsidiary Cityview Place Holdings will be selling 58 units of The Residences at W Singapore Sentosa Cove this month. A spokesperson said on Tuesday that these units were “specially curated” and put up for sale at “an attractive price for a limited period”. Prices start at S$2.1 million for a two-bedroom unit and go up to S$3.5 million for a four-bedder. CDL’s shares closed 0.7 per cent or S$0.04 higher at S$5.95 on Tuesday.

Frasers Property : The real estate company said on Tuesday that it is expecting to report a “significant” fall in profit for the first half of the fiscal year ended Mar 31. It noted fair value losses and impairment, chiefly on certain commercial properties in the UK, according to its preliminary results. In a separate statement on the same day, it announced a tie-up with SP Group to install close to 4,500 square metres of solar panels across seven of its retail and commercial properties in Singapore. Its counter closed 0.6 per cent or S$0.005 higher at S$0.85, before the announcements.

ESR-Logos Reit : The real estate investment trust (Reit) is divesting its property in Australia for A$65.5 million (S$57.7 million), which represents a 7.4 per cent premium over the property’s A$61 million valuation. On Thursday, its manager said the transaction is not expected to have a material impact on the Reit’s net asset value and distribution per unit for the financial year ending Dec 31, 2024. Units of ESR-Logos Reit closed S$0.005 or 1.7 per cent higher at S$0.30 on Tuesday.

Sabana Industrial Real Estate Investment Trust (Sabana Reit): The Reit trustee, HSBC Institutional Trust Services, on Tuesday presented an indicative timeline for the internalisation of the trust’s management function. The extraordinary general meetings to implement and effect the internalisation are likely to be in Q3. Units of Sabana Reit ended unchanged at S$0.36, before the announcement.

Centurion : The accommodation assets operator said on Tuesday that its subsidiary Centurion Overseas Investments has established a 60 per cent-owned unit – Centurion-Lionrock (HK) – for the key purpose of leasing a building in Hong Kong, marking its foray into the Hong Kong market. The remaining 40 per cent of Centurion-Lionrock (HK) is owned by an independent third party and joint venture partner, LionRock Property. Shares of Centurion gained 1.2 per cent or S$0.005 at S$0.43, before the news.  

LHN Group : The group’s unit LHN Facilities Management was awarded the tender for a state property at Upper Bukit Timah Road on Tuesday. It said that beyond rejuvenating the site, it is looking to turn the existing compound into a mixed-use development that will feature co-living spaces. The counter closed flat at S$0.34, before the news.