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Stocks to watch: CapitaLand Commercial Trust, CapitaLand, SATS
CAPITALAND Commercial Trust (CCT): The trust is buying the remaining 60 per cent of the CapitaGreen office property for about S$393 million.
Real estate developer CapitaLand, which holds about 31.96 per cent of CCT, currently holds a 50 per cent direct stake in CapitaGreen. Its share of the consideration is about S$318 million.
Completion of the deal is expected between the third and fourth quarters of 2016.
CCT units last traded at S$1.38 on Friday. CapitaLand last changed hands at S$2.99.
SATS: The airport services provider has declared a final dividend of 10 Singapore cents per share, up from nine Singapore cents the year before, as fourth-quarter net profit slipped 1.7 per cent to S$50.7 million amid a decline in food solutions revenue.
The company also said long-time chairman Edmund Cheng will step down from the board at the end of its annual general meeting on July 19. Current independent director Euleen Goh Yiu Kiang will take over the chair of the board.
SATS shares closed at S$4.45 on Friday.