Stocks to watch: CDL, CDLHT, Starburst, Delfi, Centurion, SPH Reit, Aspen, DBS

THE following companies saw new developments that may affect trading of their shares on Thursday:

City Developments Limited (CDL), CDL Hospitality Trusts (CDLHT): CDL's hotel arm Millennium & Copthorne Hotels (M&C) is reviewing its portfolio and may dispose of some assets in a drive to recover from the effects of the Covid-19 pandemic by as early as 2021. Separately, The Business Times wrote that CDL's near-term performance depends on the Kwek family resolving their differences amicably. CDL shares closed up S$0.14 or 1.9 per cent at S$7.58, while CDLHT units closed unchanged at S$1.22 on Wednesday before the M&C announcement.

Starburst Holdings: The Catalist-listed firm's chairman Edward Lim and managing director Yap Tin Foo are being investigated in relation to "corrupt transactions with agents", Starburst said in response to queries from the Singapore Exchange (SGX). The counter closed up 2.8 Singapore cents or 20.6 per cent at 16.4 cents on Wednesday, before the filing.

Delfi: The chocolate confectionery company posted revenue of US$93.8 million for the third quarter ended September, down 16.4 per cent from US$112.2 million for the corresponding quarter last year. Shares of Delfi closed flat at 62.5 Singapore cents on Wednesday prior to its results update.

Centurion Corp: The mainboard-listed dormitory developer and operator has secured a master lease to manage a new purpose-built dormitory in Selangor, adding more than 5,000 beds to its Malaysian portfolio. Centurion shares closed flat at S$0.32 on Wednesday before this announcement.

SPH Reit: The real estate investment trust's (Reit) non-executive director David Chia Chay Poh, 65, has resigned to pave the way for the "renewal of board members". His resignation is effective from Dec 1. SPH Reit units closed unchanged at S$0.80 on Wednesday before the filing.

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Aspen Holdings: The Catalist-listed firm has completed its placement of 100 million new ordinary shares, raising S$23.8 million. This comes as the Malaysian property developer and soon-to-be glove maker is seeking to transfer to SGX's mainboard. Aspen shares closed 4.5 Singapore cents or 20.5 per cent higher at 26.5 cents on Wednesday.

DBS: South-east Asia's largest lender could make further inroads into the tough-to-crack India market if the proposed takeover of cash-strapped Lakshmi Vilas Bank goes through, even though it will be saddled with the costs of turning a distressed asset around over the next few years, analysts say. DBS shares closed at S$24.63 on Wednesday, down S$0.02 or 0.1 per cent.