Stocks to watch: Sembcorp, CDL, Frasers Property, Sabana Reit, ValueMax

THE following companies saw new developments that may affect trading of their securities on Monday (Jan 20).  

Sembcorp Industries : The energy and urban development company, through its subsidiaries Sembcorp Green Hydrogen India and Sembcorp Development, signed two non-binding memorandums of understanding (MOUs) with the state government of Odisha. The company said the signing of the MOUs is not expected to have a material impact on earnings per share and net tangible assets per share for the financial year ending Dec 31, 2025. Shares of Sembcorp closed Friday up 1.3 per cent, or S$0.07, at S$5.63, before the news.

City Developments Limited (CDL) : Its wholly owned subsidiary plans to acquire all the fully paid ordinary shares in Millennium & Copthorne Hotels New Zealand that it does not already own, at NZ$2.25 a share. On Monday, CDL said the offer is being made with a view to delist and privatise the hotel company, which will “simplify the ownership structure” of CDL New Zealand’s investment entities. Shares of CDL ended Friday 1 per cent or S$0.05 higher at S$5.10.

Frasers Property , CDL : The property developers and Sekisui have sold 668 units at The Orie, or around 86 per cent of units put up for sale, over its launch weekend at an average price of S$2,704 per square foot. Market watchers said The Orie’s success came as no surprise given pent-up demand, although prices are expected to climb even further in H2 2025. Shares of Frasers Property closed Friday down 0.5 per cent, or S$0.005, at S$0.93, before the launch.

Sabana Industrial Real Estate Investment Trust (Sabana Reit) : The manager of the trust has received a requisition notice for an extraordinary general meeting (EGM) from unitholders with a combined stake of 10 per cent of the Reit. The unitholders had called for the EGM as they believe “significant costs” have been and continue to be incurred by the Reit in relation to the internalisation process, pointing out that the manager and trustee have incurred cumulative expenses of S$10.9 million. Units of Sabana Reit closed flat at S$0.365 on Friday, after the news.

ValueMax : The mainboard-listed pawnbroking chain has issued 233,436 warrants at the exercise price of S$0.36 each, bringing its ordinary shares to about 868.4 million, exclusive of 100,000 treasury shares. The issue price was at a 20 per cent discount to the counter’s closing price of S$0.45 on the day. The new shares will be listed and quoted on the Singapore Exchange on Tuesday. Shares of ValueMax closed Friday flat at S$0.45, before the news.

United Hampshire US Reit : The trust, through its indirect wholly owned subsidiary UH US Albany 2019, has sold a supermarket property in the US state of New York for US$23.8 million. But the net proceeds of US$23.2 million from the divestment are about 10.2 per cent, or US$2.6 million, lower than the book value of the property. Units of United Hampshire Reit closed Friday down 1.04 per cent, or US$0.005, at US$0.475, before the news.