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Stocks to watch: CapitaLand, Ascott Reit, A-HTrust, SembMarine, Yanlord Land, FLT
THE following companies saw new developments that may affect trading of their shares on Wednesday:
CapitaLand, Ascott Residence Trust (Ascott Reit), Ascendas Hospitality Trust (A-HTrust): CapitaLand will merge its hospitality trusts Ascott Reit and A-H Trust, making the combined entity the seventh largest trust on the Singapore Exchange with an asset value of S$7.6 billion, both Reits announced on Wednesday morning before the market opened. A-HTrust will delist following the merger. CapitaLand shares closed down two Singapore cents or 0.5 per cent at S$3.63, Ascott Reit closed up S$0.01 or 0.8 per cent at S$1.31, and A-HTrust closed flat at S$0.975 on Tuesday.
Sembcorp Marine (SembMarine): SembMarine on Wednesday said it has cooperated fully with the Brazilian Federal Police after a search warrant was executed on Estaleiro Jurong Aracruz (EJA), its subsidiary in Brazil. The search warrant was in connection with ongoing investigations related to Operation Car Wash in Brazil, the country’s biggest anti-graft crackdown which sent former president Luiz Inacio Lula da Silva to jail. SembMarine shares closed flat at S$1.54 on Tuesday.
Yanlord Land Group: Real estate developer Yanlord Land Group has garnered around 1.43 billion yuan (S$281.9 million) in pre-sales at the inaugural launch of its Yanlord Gardens development in Nantong. In a filing with the Singapore Exchange on Tuesday, Yanlord said it sold all 357 apartment units that were available for sale within the first day at an average selling price of about 28,570 yuan per square metre (sq m) for 50,235 sq m gross floor area sold. The counter closed at S$1.31 on Tuesday, down 1.5 per cent, or two Singapore cents.
Frasers Logistics & Industrial Trust (FLT): FLT is planning to acquire 12 freehold logistics properties – nine in Germany and three in Australia – from its sponsor Frasers Property for around A$644.7 million (S$612.5 million), FLT’s manager said on Wednesday morning. FLT will finance the acquisition with a combination of equity and borrowings. The acquisition is set to be completed by end August this year. It is subject to approval from unitholders of FLT, and is expected to increase FLT’s distribution per unit. Units of FLT ended trading on Tuesday up one Singapore cent at S$1.22, while shares of Frasers Property closed down one cent at S$1.86 on Tuesday.
ISEC Healthcare: Isec Healthcare's chief executive officer (CEO) and certain shareholders of the company are at an advanced stage of negotiations with a third-party purchaser for the sale of part of their shares in the company. The potential transaction, if completed, is likely to lead to an offer for the shares of the company in due course. ISEC received the notification from executive director and CEO Wong Jun Shyan for himself and on behalf of certain shareholders of the company who are also employees, including executive vice-chairman Lee Hung Ming. ISEC Healthcare shares last traded at S$0.34 on Friday, up 4.6 per cent, or 1.5 Singapore cents.