Stocks to watch: Shangri-La Asia, Sabana Reit, Best World, Cordlife

THE following companies saw new developments that may affect trading of their securities on Monday (Mar 25): 

Shangri-La Asia : The hospitality group on Friday recorded a net profit of US$184.1 million for its full year ended Dec 31, 2023, compared with a US$158.5 million loss a year earlier. Its revenue for FY2023 rose 46.5 per cent to US$2.1 billion, and the group proposed a final dividend of HK$0.15 per share for the full year. Shares of Shangri-La closed flat at HK$5.25, before the announcement. 

Sabana Industrial Real Estate Investment Trust (Sabana Reit): The Reit’s trustee has established an internalisation committee including several employees from activist investor Quarz Capital. This is part of the trustee’s plans to internalise the Reit manager. Units of Sabana Reit closed flat at S$0.365 on Friday, before the announcement.