Stocks to watch: FCT, Clas, Sheng Siong, LHN Logistics, Geo Energy

THE following companies saw new developments that may affect trading of their securities on Monday (Sep 25): 

Frasers Centrepoint Trust (FCT): Its trustee has agreed to divest 143.9 million units in Malaysia’s Hektar Real Estate Investment Trust (Hektar Reit) for RM128.1 million (S$37.4 million). Following completion of the divestment, FCT will hold 2.1 per cent of the total number of Hektar Reit units in issue, versus the current 30.7 per cent. Units of FCT closed S$2.18 on Friday, down S$0.02 or 0.9 per cent, before the announcement.

CapitaLand Ascott Trust (Clas): The lodging trust’s manager announced on Monday that it has completed the divestment of four mature serviced residences in regional France for a total of 44.4 million euros (S$64.6 million) as part of its portfolio reconstitution strategy. The four properties were divested at 63 per cent above book value. Its stapled securities closed Friday down S$0.005, or 0.5 per cent, at S$0.975.