Stocks to watch: Thai Beverage, Frasers Property, OCBC, UMS, Singapore Airlines
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THE following companies saw new developments that may affect trading of their securities on Thursday (Jul 18):
Thai Beverage Public Company (ThaiBev), Frasers Property : The beverage manufacturer is proposing a share swap which will result in the transfer of all of its 28.78 per cent shareholding in Frasers Property for a 41.3 per cent stake in Fraser and Neave (F&N), at an estimated ratio of 1.88 Frasers Property shares for each F&N share. The move will turn ThaiBev into a pure-play food and beverage company, and raise its holdings in F&N to 69.61 per cent. ThaiBev’s counter closed 2.1 per cent or S$0.01 higher at S$0.495 on Wednesday, while Frasers Property finished flat at S$0.80.
OCBC : The lender expects to recover all overdue loans from money launderer Su Baolin after it sold a vacant plot of land in Sentosa belonging to him for over S$20 million via a private treaty. According to earlier reports by The Business Times, Su owed OCBC more than S$20 million in mortgage, credit card debt and interest. Shares of OCBC ended 0.5 per cent or S$0.08 higher at S$15.22 on Wednesday.
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