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Stocks to watch: CapitaLand, Frasers, Fu Yu Corp
THE following companies made announcements before the market opened on Tuesday that could affect the trading of their shares:
CapitaLand announced that it will own a prime commercial site in the Central Business District of Ho Chi Minh City which will become its first international Grade A office tower with retail units in Vietnam.
The development will be directly connected to a planned metro station, linking the CBD to the districts of Binh Thanh, 2 and 9.
Construction is expected to start in the first quarter of 2017 and will complete in 2020, about the same time that the metro line is expected to begin operation.
Frasers Centrepoint announced that its wholly owned subsidiary FCL Treasury established a S$5 billion Multicurrency Debt Issuance Programme on Monday.
Net proceeds will be used to refinance existing debts, fund potential acquisition and investment opportunities that the company and its subsidiaries may pursue.
Fu Yu Corporation, a one-stop solution plastic supplier, will be merging with two of its wholly owned subsidiaries, Nanotechnology Manufacturing and Solidmicron Technologies to continue as one company.
The proposed merger will not have any financial effect on the share capital, net tangible assets and net asset value per share of the company, its earnings per share or the gearing of the group as at the effective date of the union.
Fu Yu specialises in mechanical modules, computer peripherals, medical equipment telecommunications and consumer electronics.