Stocks to watch: CICT, City Developments Limited, FLCT, SPH, Keppel, HPL

THE following companies saw new developments that may affect trading of their securities on Friday (Dec 3):

CapitaLand Integrated Commercial Trust (CICT) C38U: Its indirectly wholly-owned subsidiary has entered into a unit sale agreement to acquire 2 Grade A office buildings in Sydney, Australia for A$330.7 million (S$330.7m), the real estate investment trust's (Reit) manager said in a bourse filing on Friday. Units of CICT closed S$0.03 or 1.4 per cent lower at S$2.07 on Thursday (Dec 2).

City Developments Limited (CDL) C09, Far East Hospitality Trust (FEHT) Q5T: The property developer will acquire Central Square for S$315 million from FEHT as part of plans to redevelop its Central Mall properties and the surrounding area into a mixed-use lifestyle hub, it said in a statement on Thursday (Dec 2). FEHT said the open market value of the property as at Oct 25 - determined by independent valuer Savills - is S$271.4 million. CDL shares closed 1.7 per cent or S$0.12 lower at S$6.78 on Thursday before the announcement, while FEHT units fell S$0.005 or 0.9 per cent to S$0.575.

Frasers Logistics & Commercial Trust (FLCT) BUOU: The Reit is proposing to divest a leasehold property in Victoria, Australia for a consideration of A$42.5 million (S$41.7 million), its manager said on Thursday. Units of FLCT closed at S$1.45 on Dec 2, down S$0.03 or 2 per cent, before the announcement.

Singapore Press Holdings (SPH) T39, Keppel Corporation BN4, Hotel Properties Limited (HPL) H15: Cuscaden Peak said on Thursday night it has waived its rights to walk away from its bid for SPH in the event of a material adverse effect to provide SPH shareholders with "greater transaction certainty".

The consortium comprising HPL, CLA Real Estate Holdings and Mapletree Investments also received the requisite regulatory approval from the Foreign Investment Review Board in Australia, which represents the final outstanding approval needed. As such, the Cuscaden scheme "now delivers higher transaction certainty" compared to the Keppel scheme which still requires approval from its shareholders, said HPL executive director Christopher Lim.

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SPH shares closed down S$0.01 or 0.4 per cent to S$2.33 on Thursday before the announcement. Keppel slipped 0.4 per cent or S$0.02 at S$5.09, while HPL dipped 0.6 per cent or S$0.02 to S$3.28.

Q&M Dental Group (Singapore) QC7, Aoxin Q&M Dental Group 1D4: Q&M Dental Group announced on Friday that polymerase chain reaction (PCR) test kits developed by its subsidiary Acumen Diagnostics, which is 51-49 owned by Q&M and Aoxin Q&M, are capable of detecting the new coronavirus variant Omicron. Shares of Q&M closed at S$0.62 on Thursday, down S$0.015 or 2.4 per cent, before the announcement, while shares of Aoxin Q&M closed at S$0.24, after slipping S$0.005 or 2.04 per cent.

Chip Eng Seng C29, SingHaiyi 5H0, SLB Development 1J0, KSH Holdings ER0: Chip Eng Seng, a SingHaiyi joint venture and an entity linked to KSH, SLB Development and Ho Lee Group, have made a joint S$650 million bid for Peace Centre/Peace Mansion by way of a private treaty, Chip Eng Seng and SingHaiyi announced on Friday. Shares of Chip Eng Seng closed 1.2 per cent or S$0.005 lower at S$0.410, SingHaiyi closed flat at S$0.117, SLB Development was unchanged at S$0.116, and KSH Holdings also closed flat at S$0.35 on Thursday.

Roxy-Pacific Holdings E8Z: The mainboard-listed company will be launching its freehold condominium Mori on Dec 4, with an expected average price of S$1,900 per square foot (psf). Teo Hong Lim, its executive chairman, snapped up the property which would be developed into Mori because of its attractive price, location and size. Shares of Roxy-Pacific closed flat at S$0.47 on Thursday.

Trading halt: Maxi-Cash Financial Services Corporation 5UF : 5UF 0% has called for a trading halt on Friday morning, pending an announcement. Shares of the counter closed at S$0.176, down 0.6 per cent or S$0.001, on Thursday.