Stocks to watch: Great Eastern, Digital Core Reit, Wing Tai

THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 7):

Great Eastern : The insurer said on Wednesday that a recent request by a minority shareholder of Great Eastern to table resolutions at its upcoming annual general meeting (AGM) “does not satisfy all of the requirements” for a requisition to be moved. On Mar 1, The Business Times reported that a group of minority shareholders, led by independent investor Ong Chin Woo, had sought to table three resolutions at the upcoming AGM: to withhold directors’ fees, to change the share option schemes of employees, and to appoint an independent financial adviser to explore options to enhance shareholders’ value. The counter closed at S$18.20, 0.6 per cent or S$0.10 higher, before the announcement.

Digital Core Reit : The real estate investment trust (Reit) is raising its stake in a data centre in Germany by 24.9 per cent to 49.9 per cent. The proposed 117 million euro (S$170.7 million) interested-person transaction requires unitholders’ approval, said the manager on Wednesday. Increasing the stake in the data centre is expected to be about 3.2 per cent accretive to the annual distribution per unit. Units of the Reit closed 2.5 per cent or US$0.015 higher at US$0.61, before the announcement.