Stocks to Watch: Mapletree Pan Asia Commercial Trust, Sembcorp, CDL, Boustead Projects

THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 23):

Mapletree Pan Asia Commercial Trust (MPACT): The manager of the real estate investment trust said that Mapletree North Asia Treasury Company has fully redeemed S$117.8 million of 3.5 per cent notes due on Wednesday. Units of MPACT closed up 2.9 per cent or S$0.05 at S$1.77 on Wednesday, before the announcement.

Sembcorp Industries : The energy company, which is backed by Temasek, may be considering selling its waste management unit, according to a Bloomberg report on Wednesday. Sources say Sembcorp may seek as much as US$700 million for SembWaste. The counter’s shares closed 1.7 per cent or S$0.07 higher at S$4.14 before the report was published.

City Developments Limited (CDL): The real estate company is acquiring a stake in a Sofitel hotel in Australia for A$177.7 million (S$159.2 million). This will be CDL’s third hotel in Australia and the property group’s entry into Brisbane’s hospitality sector. Shares of CDL climbed 0.4 per cent or S$0.03 to S$7.22 after the news. 

Starhill Global Real Estate Investment Trust (Starhill Global Reit): Department store brand Myer, which occupies 52 per cent of net lettable area at the Reit’s Australian asset Myer Centre Adelaide, is seeking to terminate its lease while claiming unspecified damages. Starhill Global Reit’s manager on Thursday said it considers the arbitration claim “ill-founded” and that it will “take all steps necessary to vigorously defend” the claim. Units of the Reit closed flat on Wednesday at S$0.52.

Boustead Projects , Boustead Singapore : The Singapore Exchange Regulation said on Wednesday that Boustead Projects must restore its free float after its shares are suspended at the close of the takeover offer by its parent company. Otherwise, Boustead Projects would be directed to delist and provide an exit offer which is deemed fair and reasonable. Shares of Boustead Projects closed flat at S$0.95 on Wednesday; those of Boustead Singapore rose 0.6 per cent or S$0.005 to end at S$0.85.