Stocks to watch: Mapletree Logistics Trust, Chip Eng Seng, Ossia International

THE following companies saw new developments that may affect trading of their securities on Wednesday (Dec 28):

Mapletree Logistics Trust (MLT): It is selling its 23-year-old cargo lift warehouse at 3 Changi South Lane to Nova Furnishing for S$22 million. This comes as the trust’s manager considers the warehouse’s specifications “outdated”, and deems the asset no longer suitable nor efficient to meet the requirements of today’s logistics users. Units of MLT closed 1.3 per cent or S$0.02 higher at S$1.58 on Tuesday, before the news.

Chip Eng Seng : Gordon and Celine Tang’s offer to take the company private at S$0.75 per share has received valid acceptances amounting to over 481.3 million shares, representing about 61.4 per cent of the total number of shares. Separately, the property player’s independent financial adviser said terms of the offer are fair “on balance” in response to Singapore Exchange’s queries. Shares of Chip Eng Seng closed flat at S$0.75 on Tuesday, before both announcements.