Stocks to watch: Singapore Airlines, CapitaLand Ascendas Reit, F&N

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Mar 25):

Singapore Airlines (SIA) : The flag carrier will fly to Sydney’s new 24-hour airport, it said on Tuesday. The new airport allows SIA to offer red-eye flights from Sydney, enabling it to bypass the 11 pm to 6 am curfew at the existing Sydney airport, with such flights preferred by corporate travellers. It will also help feed into SIA’s regional network, using Changi as a transit point after the dawn arrival of the new Sydney flight. Shares of SIA rose 0.3 per cent or S$0.02 to close at S$6.51 on Tuesday, before the announcement.

CapitaLand Ascendas Reit (Clar) : The manager of the real estate investment trust (Reit) on Wednesday announced that it will list 249.4 million private placement units at S$2.406 apiece and 129.1 million preferential offering units at S$2.35 each. This is part of its S$900 million fundraising to finance three Japan and Singapore assets and other purchases. Units of Clar fell 2.7 per cent or S$0.07 to close at S$2.50 on Monday, before it called for a trading halt that is now lifted.

F&N : The food and beverage conglomerate on Tuesday announced that the CEO of its Malaysian unit – Lim Yew Hoe – will retire on Sep 30 this year. The 59-year-old will be leaving after an 11-year tenure with F&N Holdings Bhd, according to his LinkedIn profile. Tarang Gupta will be appointed as CEO designate with effect from Jul 1, and will assume the role of CEO on Oct 1. Shares of F&N closed up 0.7 per cent or S$0.01 at S$1.43 on Tuesday, before the announcement.