Stocks to watch: Sabana Reit, CSE Global, Multi-Chem, OKP

THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 26): 

Sabana Industrial Real Estate Investment Trust (Sabana Reit): Its trustee’s first meeting with the internalisation committee did not take place as intended on Mar 25 due to lack of attendance. This was because committee members wished to focus discussions on proposed amendments to the trust deed and an ongoing court application filed regarding the Reit’s internalisation process, said the Reit trustee on Tuesday. Units of Sabana Reit ended Monday unchanged at S$0.365. 

CSE Global : The automation solutions provider raised gross proceeds of S$24 million from a share placement to fund strategic acquisitions and investments in its core markets. This involved the placement of 60 million new ordinary shares at S$0.40 apiece, 6.6 per cent lower than the volume-weighted average price of S$0.4281 per share on Mar 13. The listing of the placement shares is expected to commence on Tuesday. Shares of CSE Global closed flat on Monday at S$0.435, before the announcement.