Stocks to watch: CDL, Frasers Property, Wing Tai, Cordlife, UOB

THE following companies saw new developments that may affect trading of their securities on Wednesday (Mar 27): 

City Developments Ltd (CDL), Frasers Property : A consortium of five companies, including CDL and Frasers Property, has submitted two bids with different concept proposals for the master-developer site in Jurong Lake District. The two property developers will take a 25 per cent stake each in the consortium. Shares of CDL closed S$0.03 or 0.5 per cent higher at S$5.85, and Frasers Property closed S$0.005 or 0.6 per cent lower at S$0.85, before the news on Tuesday.

Wing Tai : The property developer on Tuesday said it has priced S$100 million in fixed-rate senior unsecured notes due Apr 3, 2029, at 4.38 per cent. Net proceeds will be used to finance working capital requirements and investments, and to refinance existing borrowings. Shares of Wing Tai closed at S$1.40, up S$0.01 or 0.7 per cent, before the announcement.