Stocks to watch: FCT, Clas, Sheng Siong, LHN Logistics, Geo Energy
Michelle Zhu
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.
Sheng Siong : The supermarket operator has inked a lease agreement to open a new store in Kunming, China, which is expected to be operational before the end of the second quarter of 2024. This brings Sheng Siong’s total store count in China to six. Shares of Sheng Siong closed flat at S$1.52 on Friday, before the announcement.
LHN Logistics : Its subsidiary is facing claims amounting to S$993,853, announced the group on Friday. Following the payment of the total amount owed, the group’s net tangible asset per share would drop to S$6.90 from S$7.25, while its loss per share would widen to S$3.07 from S$2.69. The counter closed unchanged at S$0.225, before the announcement.
Geo Energy Resources : The Indonesian coal producer on Saturday said it secured US$220 million in term loan facilities from Bank Mandiri at “a very competitive” interest rate. Geo said the loan facilities will provide the group with strong working capital and liquidity to unlock the value of its core asset – the Triaryani mine. Shares of the group ended Friday flat S$0.225.
