Stocks to watch: ThaiBev, Far East Orchard

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jun 5).

ThaiBev : The beer maker announced a US$2 billion multicurrency debt issuance programme on Wednesday. The group will issue notes and perpetual securities dominated in any currency agreed upon between the group and relevant dealers under the programme. The net proceeds from the programme will be used for “general corporate purposes” of the company, the group said. Shares of ThaiBev closed 1.1 per cent or S$0.005 higher at S$0.465 on Wednesday.

Far East Orchard : A joint venture (JV) agreement between its subsidiary, Far East Hospitality Management Asia, and Real Hospitality Group Asia, in relation to a hospitality management business in China, has been terminated. While the JV partners intended to incorporate a JV company in Hong Kong and an operating company in China for the business, they were unable to find suitable opportunities amid the Chinese tourism industry’s post-pandemic recovery, the developer said on Thursday. The counter closed on Wednesday unchanged at S$1.01.