Stocks to watch: CICT, FHT, Riverstone, Food Empire, Lendlease Global Reit
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THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 12):
CapitaLand Integrated Commercial Trust (CICT): Its manager on Tuesday announced that the trust has divested 21 Collyer Quay, an office asset in Raffles Place, for S$688 million to a third party. Net proceeds from the transaction will be used for debt repayment and capital expenditure financing, asset upgrading works, as well as investments, among other uses. Units of CICT ended Monday flat at S$1.97.
Frasers Hospitality Trust (FHT): Its distribution per stapled security for its second half ended Sep 30 stood at S$0.011682, down 0.8 per cent from the corresponding period in the previous year. Despite higher gross revenue for the period, income available for distribution was impacted by higher finance costs and tax expenses, reported its managers on Tuesday. Stapled securities of FHT closed Monday flat at S$0.425.
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