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Stocks to watch: ESR-Reit, OUE H-Trust, Oxley, Emas Offshore, Far East Group
THE following companies saw new developments that may affect trading of their shares on Thursday:
ESR-Real Estate Investment Trust (Reit): ESR-Reit has acquired an 80 per cent interest in a special purpose vehicle that owns a leasehold interest in a property in 7000 Ang Mo Kio Avenue 5 in Singapore for S$240 million, marking its largest acquisition to date. ESR-Reit closed at S$0.56 per unit on Wednesday.
OUE Hospitality Trust (OUE H-Trust): The Reit portion of the stapled OUE H-Trust has obtained S$980 million of loan facilities to partially refinance its existing debt. The new facilities comprise two term loan facilities and two revolvers, according to a filing with the Singapore Exchange. OUE H-Trust closed at S$0.83 per unit on Wednesday.
Oxley Holdings: Oxley announced on Dec 14 it has entered into sale and purchase agreements to buy Raffles Place office building, Chevron House, for S$660 million, as well as Singapore property developer Centra Cove for a cash consideration of US$12 million. Oxley last traded at S$0.635 per share on Wednesday.
Emas Offshore Limited (EOL): EOL saw its second-quarter loss after tax narrow by 89 per cent to US$15.98 million on a 24 per cent increase in revenue for the same period. Revenue was higher at US$37.98 million compared to US$30.51 million for a year-ago period. EOL last traded at S$0.05 per share on March 3.
Far East Group: A wholly owned subsidiary of Far East Group has accepted a letter of offer to sell a land parcel together with a factory in Malaysia at RM11.5 million (S$3.80 million) to Ng Hin Kwee & Sons Sdn Bhd. Far East last traded at S$0.075 apiece on Dec 7.