Stocks to watch: GuocoLand, City Developments Ltd 

THE following companies saw new developments that may affect trading of their securities on Friday (Apr 5):  GuocoLand : Its joint venture with Hong Leong Holdings is the sole bidder for an Upper Thomson Road plot in the latest state tender that closed on Thursday. The two property developers offered around S$780 million or S$904.60 per square foot per plot ratio (psf ppr) – a land rate 8 per cent lower than that of Lentor Central. Shares of GuocoLand closed up S$0.01 or 0.7 per cent at S$1.51, before the news. 

City Developments Ltd : Its joint venture with Japanese developer Mitsui Fudosan on Thursday placed the sole bid in the tender for a site on Zion Road. The consortium’s project proposes to pilot a category of long-stay serviced apartments. The S$1.1 billion bid indicated a price of S$1,202 psf ppr, falling below the S$1,300-to-S$1,700 psf ppr that most analysts polled by The Business Times expected. The counter closed S$0.06 or 1 per cent higher at S$5.85, before the news.