Stocks to watch: Frasers Property, Elite UK Reit

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jul 3):

Frasers Property : Soon Su Lin will step down as the CEO of Frasers Property Singapore on Oct 1, transitioning to a group advisory role, the property group announced on Friday. She will be succeeded by Tan Wee Hsien, 55, who is scheduled to join the company as CEO-designate on Sep 8. Shares of Frasers Property ended at S$1.07 on Thursday, up 0.9 per cent or S$0.01.

Elite UK Reit : The manager of the real estate investment trust (Reit) on Friday announced the divestment of four properties located in Wales for a total sale consideration of £6 million (US$8 million). The properties were sold to an unrelated third-party purchaser through the Reit’s wholly owned subsidiaries, Elite Gemstones Properties and Elite Amphora. The net proceeds generated from this divestment will be recycled into high-growth opportunities. Units of Elite UK Reit fell 1.6 per cent or £0.005 to end at £0.31 on Thursday.