Stocks to watch: Clas, SIA, Manulife US Reit, Lendlease Global Reit, Cromwell E-Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Dec 18):

CapitaLand Ascott Trust (Clas) : It is divesting three hotels in Osaka, Japan, to an unrelated third party for a total of 10.7 billion yen (S$100.3 million) as part of its ongoing portfolio reconstitution strategy. The properties are Hotel WBF Honmachi, Hotel WBF Kitasemba East and Hotel WBF Kitasemba West, the manager said on Sunday. The counter closed at S$0.97 on Friday, down 2.5 per cent or S$0.025.

Singapore Airlines (SIA) : The national carrier on Friday posted a 17.6 per cent year-on-year increase in passenger traffic in November, outpacing the 15.1 per cent expansion in its capacity. This came amid strong passenger demand heading into the year-end peak travel season. Shares of SIA closed 0.3 per cent or S$0.02 higher at S$6.47 on Friday, before the announcement.

Manulife US Real Estate Investment Trust (Reit) : The manager announced on Monday that all 12 of the Reit’s lenders obtained necessary approvals on a master plan to remedy the Reit’s financial woes. The plan includes a mix of asset dispositions and a sponsor-lender loan. It said in a separate bourse filing that the Reit completed the US$98.7 million divestment of Park Place in Arizona in the US, to its sponsor. Its counter closed Friday 6.4 per cent or S$0.005 higher at S$0.083.

Lendlease Global Commercial Reit : Its commercial Italy fund restructured a lease at its Milan portfolio property Sky Complex, a move which will reduce tenant concentration risk. The original lease was due to expire in 2032, subject to an option by the tenant to terminate the lease in 2026, the manager said on Monday. Units of Lendlease Global Reit ended 2.3 per cent or S$0.015 higher at S$0.655 on Friday.

Cromwell European Reit (E-Reit): The Reit repurchased 50 million euros (S$72.6 million) or 10 per cent of its 500 million euro 2.125 per cent bonds due 2025. On Monday, the manager said it expects to book about three million euros in profit from the discounted purchase price of the bonds. Units of Cromwell E-Reit closed Friday 3.7 per cent or 0.05 euro higher at 1.40 euros.

Stamford Land : The company will donate S$2 million to the Singapore Exchange Investor Education Fund, as part of a resolution between both parties over an issue regarding the former’s allocation of rights. The mainboard-listed company had in December 2021 announced plans to raise S$238.9 million via a renounceable non-underwritten rights issue. Shares of Stamford Land closed flat at S$0.385 on Friday, before the announcement.

Centurion : The property player will soon acquire the remaining 51 per cent stake in Malaysian property investment company Oriental Amber for RM2.6 million (S$737,000), through its wholly owned subsidiary, Centurion Dormitories. Shares of Centurion closed 1.2 per cent or S$0.005 lower at S$0.40 on Friday, before the announcement.