Stocks to watch: Sabana Reit, GuocoLand, Parkson Retail Asia

THE following companies saw new developments that may affect trading of their securities on Wednesday (Apr 5):

Sabana Industrial Real Estate Investment Trust (Sabana Reit): The Reit has received provisional permission from the Urban Redevelopment Authority (URA) for additions and alterations to its Tuas property. Its manager estimates the development cost of the project to be around S$20 million. Units of Sabana Reit rose by S$0.005 or 1.2 per cent to S$0.44 on Tuesday, before the news. 

GuocoLand : The real estate developer’s tie-up with Hong Leong Holdings’ Intrepid Investments emerged as the sole bidder for a 99-year leasehold private housing site in Lentor Gardens, URA said on Tuesday. The team-up placed a bid of S$486.8 million. GuocoLand shares inched higher by S$0.01 or 0.6 per cent to end at S$1.63, before the announcement was made.  

Parkson Retail Asia : Its independent auditor flagged that the department store retailer may not be able to operate as a going concern based on its financial statements for the fiscal year ended Dec 31, 2022. The auditor’s report for the previous financial year had a similar emphasis of matter. The counter closed S$0.003 or 3.2 per cent lower at S$0.09 on Tuesday, before the news.