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Stocks to watch: CapitaLand, CDL, Ascott Reit, CDLHT, SPH Reit, GDS Global
THE following companies saw new developments that may affect trading of their shares on Thursday:
CapitaLand, City Developments Limited (CDL), Ascott Residence Trust (Ascott Reit): A consortium of real estate heavyweights CapitaLand, CDL, and Ascott Reit will redevelop the Liang Court site, according to bourse filings on Thursday morning. The site comprises Liang Court mall, midscale hotel Novotel Singapore Clarke Quay and serviced residence Somerset Liang Court Singapore. Shares of CapitaLand fell S$0.02 or 0.5 per cent to S$3.66 on Wednesday, while CDL ended down S$0.24 or 2 per cent at S$10.61. Units of Ascott Reit lost S$0.02 or 1.5 per cent to close at S$1.31.
Separately, CapitaLand on Wednesday said that it will sell the The Star Vista for S$296 million to Rock Productions, the business arm of New Creation Church.
CDL Hospitality Trusts (CDLHT): CDLHT will sell Novotel Singapore Clarke Quay, part of the Liang Court site, for S$375.9 million and make an up-to-S$475 million forward purchase of a new hotel that will be part of a new integrated development at Liang Court. In a bourse filing on Thursday, CDLHT said it will also buy W Singapore hotel at Sentosa Cove for S$324 million. Units in CDLHT closed unchanged at S$1.59 on Wednesday.
SPH Reit (Singapore Press Holdings Real Estate Investment Trust): SPH Reit has launched a private placement to raise at least S$161.5 million, its manager said on Thursday. This is to partially fund its proposed A$670 million (S$627.9 million) acquisition of a 50 per cent stake in a shopping centre in South Australia. The private placement will see the listing of 156.6 million new units at an issue price of between S$1.031 and S$1.075. A trading halt in the units was called on Thursday morning before the market opened. Units in SPH Reit closed flat at S$1.11 on Wednesday.
GDS Global: Catalist-listed GDS Global widened its full-year net loss to S$1.76 million from S$630,000 a year ago, on declining revenue amid continuing weak conditions in the construction industry, said the firm in a filing on Wednesday. Loss per share stood at 1.91 Singapore cents, compared with 0.89 cent a year ago. The company has proposed a first and final dividend of 0.3 Singapore cent for its full fiscal year. GDS Global shares closed flat at S$0.35 on Wednesday before the results were announced.