Stocks to watch: Clint, Bukit Sembawang, OUE, Keppel Pacific Oak US Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Jul 22):

CapitaLand India Trust (Clint): The trust on Monday said it has completed its acquisition of an office building in Navi Mumbai, India, for about 6.8 billion rupees (S$110 million). The acquisition brings Clint’s entire portfolio to about 21.8 million square feet, up by about 4 per cent. Units of Clint closed 1.9 per cent or S$0.02 lower at S$1.03 on Friday.

Bukit Sembawang Estates (BSEL): The property developer on Friday defended its capital structure and growth plans, as well as made changes to its senior management, following questions from the Securities Investor Association (Singapore). The queries came ahead of the company’s annual general meeting on Jul 26. Shares of BSEL closed 0.3 per cent or S$0.01 lower at S$3.59 before the news.

OUE : The property developer expects to record a net loss for the first six months ended Jun 30, reversing a net profit of S$40.2 million in the previous corresponding period. This comes amid estimated losses from an investee company, as well as a slowdown in China’s property market and economy, said OUE on Friday. Shares of OUE closed 0.8 per cent or S$0.01 lower at S$1.18 before the announcement.

Keppel Pacific Oak US Reit (Kore): Its trustee on Jul 19 secured an option to extend a 12-month unsecured term loan facility of US$115 million. It also obtained a revolving credit facility with a principal amount of US$25 million with conditions tied to mandatory prepayment events. Kore units closed 2.9 per cent or US$0.005 lower at US$0.169 on Friday.