Stocks to watch: SIA, CapitaLand Ascendas Reit, TSH Resources, OUE, Cordlife
THE following companies saw new developments that may affect trading of their securities on Tuesday (May 21):
Singapore Airlines (SIA): The national flag carrier has signed an agreement with Indonesia flag carrier Garuda Indonesia to explore revenue sharing arrangements for flights between Indonesia and Singapore, and to partner on their frequent flyer programmes. The frequent flyer partnership – when launched – will allow GarudaMiles and KrisFlyer members to earn and redeem miles on code-share flights operated by both airlines, said the carriers on Monday. Shares of SIA closed 0.2 per cent or S$0.01 lower at S$6.77, before the news.
CapitaLand Ascendas Reit : The real estate investment trust (Reit) has issued a S$300 million 10-year green bond through its trustee. The notes will bear a coupon of 3.73 per cent per annum, or 66.1 basis points over the 10-year Singapore Overnight Rate Average. The Reit’s units closed 0.4 per cent or S$0.01 lower at S$2.64, before the announcement on Monday.
TSH Resources : The plantation company reported on Monday a 32 per cent decline in net profit for the first quarter on lower revenue and an absence of disposal gains. Net profit for the three months ended March fell to RM20.1 million (S$5.8 million) from RM29.4 million in the year-ago period, the company said in a bourse filing on Bursa Malaysia, where it has a primary listing. Shares of TSH in Singapore rose 1.6 per cent or S$0.005 to close at S$0.325 on Monday.
OUE : The property developer on Monday proposed an off-market purchase of its ordinary shares at S$1.25 apiece under an equal access scheme to buy back up to around 84 million shares. The offer price represents a 20 per cent premium over the average of the last dealt prices of the shares over the last five consecutive market days on the Singapore Exchange. OUE’s shares ended 0.9 per cent or S$0.01 lower at S$1.05, before the announcement.
Cordlife : Some 157 of its customers have engaged law firm Peter Low Chambers to advise them in a case against the private cord-blood bank. They said on Monday that the law firm will be providing a written legal opinion, based on an agreed-upon scope of queries and concerns raised by verified Cordlife customers. Shares of Cordlife closed 1.3 per cent or S$0.002 lower at S$0.148 on Monday.
