Stocks to watch: Hiap Hoe, Sabana Reit, Amara
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Michelle Zhu
THE following companies saw new developments that may affect the trading of their securities on Wednesday (Dec 20):
Hiap Hoe : The real estate group is purchasing a 198-bedroom freehold motel property in Western Australia for A$40 million (S$35.9 million). Its directors believe that Great Eastern Motor Lodge presents a prime investment opportunity with high occupancy levels, and also provides an opportunity for the company to increase its recurrent income streams. Shares of Hiap Hoe closed flat at S$0.66, before the announcement on Tuesday.
Sabana Industrial Real Estate Investment Trust (Sabana Reit): Its tenant Kleio One-Solution has launched a counterclaim, after the Reit’s trustee served it an originating claim seeking S$2.1 million in outstanding fees last month. As at Jun 30, the tenant accounted for about 2.9 per cent of the Reit’s monthly average gross rental income. Units of Sabana Reit closed flat at S$0.395 on Tuesday, before the announcement.
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