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