Stocks to watch: ST Engineering, ESR-Reit, OUE Reit, Hutchison Port Holdings Trust, Soilbuild Construction

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Dec 15): 

ST Engineering : Its United States subsidiary, VT San Antonio Aerospace, was one of several companies named in a wrongful death lawsuit on Dec 3. Filed in Kentucky, the lawsuit alleged the maintenance, repair and operations unit’s negligence when maintaining the aircraft. It had performed maintenance on the aircraft from Sep 3 to Oct 18. The company will not comment on pending litigation or legal proceedings and will fully cooperate with authorities in the investigation. Shares of ST Engineering closed 1.6 per cent or S$0.13 higher at S$8.34 on Friday.

ESR- Real Estate Investment Trust ( Reit) : The Reit’s manager on Monday announced a proposal to divest eight non-core Singapore assets for S$338.1 million as part of its ongoing portfolio rejuvenation and capital-recycling efforts. The price tag represents a 2 per cent premium to the independent valuation of the properties as at Nov 30. The divestment is a part of the Reit’s strategy to divest non-core assets in its portfolio, particularly those with short land-lease tenures. Units of ESR-Reit rose 0.7 per cent to close S$0.02 up at S$2.74 on Friday.