Stocks to watch: Yanlord Land, CapitaLand Investment, China Everbright, Sabana Reit

THE following companies saw new developments that may affect trading of their securities on Tuesday (Jan 9):

Yanlord Land Group : The Chinese property developer expects to record net losses for the six months, as well as the full year ended Dec 31, 2023. Its profit guidance announcement on Monday comes days after it announced a 52.5 per cent year-on-year fall in its total contracted pre-sales for FY2023 to 32.4 billion yuan (S$6 billion). Shares of Yanlord closed flat at S$0.555, before the announcement.

CapitaLand Investment : Its lodging business unit The Ascott and CapitaLand Wellness Fund have jointly acquired a freehold 308-unit lodging property in Singapore which will be upgraded and rebranded under the lyf brand. On Tuesday, CapitaLand Investment said the property will remain operational through its renovation, and will be unveiled as lyf Bugis Singapore in mid-2024. Shares of the real estate investment manager ended Monday up S$0.01 or 0.3 per cent at S$3.01.

China Everbright Water : The environmental protection company has issued its first tranche of medium-term notes (MTNs) for 2024 with a principal amount of 1.5 billion yuan (S$285.1 million) and a 2.8 per cent coupon rate. It will also repay all its outstanding 2021 first tranche MTNs at their principal amount of one billion yuan, plus accrued interest, at the maturity date which falls on Jan 15, 2024. The counter closed S$0.005 or 2.3 per cent lower at S$0.215 on Monday, after the news.

Sabana Industrial Real Estate Investment Trust (Sabana Reit): Its manager on Monday said it would not convene an extraordinary general meeting as requisitioned by the Sabana Growth Internalisation Committee, which is led by activist investor Quarz Capital. This comes as the manager was unable to verify the committee as a unitholder. Units of Sabana Reit closed flat at S$0.40, before the announcement.