Stocks to watch: SingPost, Centurion, Stoneweg E-Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jan 8):

Singapore Post (SingPost): Its former chief executive Vincent Phang and former chief financial officer Vincent Yik on Tuesday (Jan 7) said they are prepared to forgo their litigation option in favour of an independent professional inquiry. This follows the Securities Investors Association (Singapore)’s call for an independent inquiry into the circumstances that led to the Dec 21 firing of three senior executives – Phang, Yik and the former chief executive of SingPost’s international business unit Li Yu – over negligence in handling investigations of a whistle-blower’s report. Shares of SingPost closed 0.9 per cent or S$0.005 higher at S$0.555, after the news.

Centurion : It is exploring the establishment of a real estate investment trust (Reit) comprising some of its workers and student accommodation assets. If a Reit is established, it will be listed on the Singapore Exchange’s mainboard, subject to the approval of the bourse and the Monetary Authority of Singapore, said the accommodation assets operator on Tuesday. The counter closed S$0.015 or 1.6 per cent higher at S$0.96, before the announcement.