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Stocks to watch: CapitaLand Commercial Trust, Lian Beng Group, ST Engineering
CAPITALAND Commercial Trust: Singapore's largest office real estate investment trust by value is selling an office tower in the central business district, Bloomberg reported on Wednesday.
CapitaLand Commercial is seeking to sell the 23-story One George Street building in the Raffles Place office district, a source had said.
The tower, bought in 2008 for S$1.17 billion, was valued at S$975 million as of Dec 31, 2014, the website stated.
Lian Beng Group: The group has reported a 2.8 per cent year-on-year slip in net profit to S$22.9 million for the second quarter as at end-November 2015.
The construction and civil engineering firm's revenue plunged 35 per cent to S$130 million, compared to S$200 million a year ago, in part due to a decrease in revenue from the construction and ready-mixed concrete segments.
Its counter last traded unchanged at S$0.495 on Wednesday's close.
Singapore Technologies Engineering: The company has secured about S$435 million worth of contracts in the fourth quarter of 2015, bringing the amount of orders secured for the full year by the electronics arm of ST Engineering to around S$1.61 billion.
It ended Wednesday's trading up three cents at S$2.90.