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Stocks to watch: Ascendas Reit, SGX, Raffles Infrastructure, Capital World

THE following companies saw new developments that may affect trading of their shares on Friday:

Ascendas Real Estate Investment Trust (Reit): Ascendas Reit is acquiring its fourth suburban office property in Australia for A$110.9 million (S$104.4 million), the Reit's manager announced on Thursday after market close. The purchase, from ESR FPA (Wellington Road), is for the freehold land at 254 Wellington Road in Melbourne and the subsequent development of the office building there. Net property income yield for the first year is about 5.7 per cent post-transaction costs. Ascendas Reit closed at S$3.08 on Thursday, down 0.7 per cent, or two Singapore cents. 


Singapore Exchange (SGX): The bourse operator remains steadfast in its vision to provide products and services necessary for investors to have an efficient, single-point of access to Asia, even as Hong Kong Exchanges & Clearing makes a bold takeover bid for London Stock Exchange. At SGX's annual general meeting on Thursday, shareholders asked about the exchange's strategy and whether it needs to respond to the rival's move. The counter was trading down three cents or 0.36 per cent at S$8.38 as at 9.14am on Friday.


Raffles Infrastructure Holdings: Watch-listed Raffles Infrastructure and its new substantial shareholder, South Korea-listed Magic Micro Co, will explore potential partnerships in infrastructure and smart city projects in the global market. Both companies have signed a memorandum of understanding for their financial and technological cooperation in infrastructure investment opportunities. The counter last traded at 40 Singapore cents on Wednesday, down 4.8 per cent, or two cents. 

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Capital World: The Catalist-listed property firm has inked a S$5.5 million convertible loan agreement with two individual investors, it said on Thursday night. Capital World took the loan to repay an outstanding convertible bonds subscription agreement. After deducting expenses, it will have net proceeds of about S$5.1 million. The loan is for a period of a year with an annual 15 per cent interest rate. It is convertible into new Capital World shares representing 16.52 per cent of the enlarged shared capital, with a conversion price of S$0.0151708. Capital World shares closed up S$0.001 or 6.7 per cent to S$0.016 on Thursday.