Stocks to watch: Singtel, Stoneweg Europe Stapled Trust, Acrophyte Hospitality Trust, HG Metal
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Dec 18):
Singtel: The board of its unit, Optus, on Thursday released a report from an independent review into its major Sep 18 outage, which uncovered gaps in process, accountability and escalation and information protocols, Singtel said on Thursday. It also highlighted “challenges in Optus’ culture” that affected decision-making and response times. Shares of Singtel ended Wednesday 0.2 per cent or S$0.01 lower at S$4.55.
Stoneweg Europe Stapled Trust (Sert): The stapled group has entered into an agreement to amend and restate an existing facility agreement to optimise its balance sheet, the managers said on Thursday. The amended and restated term loan facility agreement is for an aggregate amount of 85 million euros (S$128.9 million), of which 70.6 million euros will be initially drawn down to refinance an outstanding loan. The facility may be increased up to 185 million euros and its proceeds will go towards general corporate funding purposes. Stapled securities of Sert ended Wednesday 0.6 per cent or 0.01 euro lower at 1.60 euros.
Acrophyte Hospitality Trust : An indirect wholly owned subsidiary of Acrophyte Hospitality Trust, ARA USH Chicago, has proposed to sell the Hyatt Place Primacy Parkway hotel for US$7.8 million, said a company filing on Wednesday. Located in Memphis, Tennessee, the property has 126 rooms and is 18.2 km south-east of the Memphis Central Business District. The proposed sale price represents an 8.8 per cent discount to an independent valuation by DBS Trustee as at Jul 31. The counter closed flat at US$0.255 before the announcement.
HG Metal Manufacturing : A unit of the steel distributor, HG Construction Steel, has exercised an option to purchase an industrial property in Tuas for S$20.8 million. The move will more than double the group’s land area, said a bourse filing on Tuesday. The property has a tenure of 30 years that commenced from Dec 15, 2007, and about 12 years are left. The counter closed flat at S$0.49 on Wednesday.
