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Stocks to watch: FLT, FCOT, Q&M Dental, OCBC, StarHub, SPH, Prudential

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

Frasers Logistics & Industrial Trust (FLT), Frasers Commercial Trust (FCOT): Unitholders of both trusts have voted overwhelmingly to approve their merger. The unitholders also approved the acquisition of Farnborough Business Park in the UK by the enlarged entity. FCOT units closed up S$0.03 or 1.9 per cent at S$1.62 on Tuesday, while FLT rose S$0.03 or 2.5 per cent at close at S$1.23. Both had requested trading halts on Wednesday before the market opened. They then lifted the halts on Wednesday night.

Q&M Dental Group: The mainboard-listed firm is partnering two Chinese companies to set up a surgical mask manufacturing company, Q&M said on Wednesday after trading hours. The counter rose S$0.02 or 4.6 per cent to finish at S$0.46 on Wednesday.

OCBC Bank: An employee of OCBC was diagnosed with the novel coronavirus on Tuesday, the lender said on Thursday in response to queries from The Business Times (BT). The staff member works at OCBC Centre along Chulia Street, BT understands. Shares of OCBC shed S$0.22 or 2.3 per cent on Wednesday to close at S$9.50.

StarHub: The mainboard-listed telco will acquire an 88 per cent stake in Malaysian information and communications technology firm Strateq for S$82.1 million. StarHub shares closed at S$1.45 on Wednesday, down S$0.05 or 3.3 per cent, before the announcement.

Singapore Press Holdings (SPH): The media and property group has started its £10.6 million (S$18.9 million) asset enhancement initiative to refurbish nine properties in its UK student accommodation portfolio. The counter ended trading unchanged at S$1.87 on Wednesday, before the announcement.

Prudential: The insurance giant on Wednesday night announced plans to list its US unit Jackson National Life, two weeks after activist hedge fund manager Daniel Loeb called on Prudential’s board to separate its Asian and US businesses. Prudential requested to lift its trading halt on Thursday morning. Its shares on the Singapore bourse last traded at US$18.70 on March 3.

Del Monte Pacific: The mainboard-listed firm saw its net profit more than double to US$6.7 million for the third quarter ended Jan 31, 2020, from US$2.6 million a year ago. Del Monte shares fell 0.3 Singapore cent or 2.7 per cent to close at 10.8 cents on Wednesday, before its results were released.

Genting Singapore: Resorts World Sentosa, operated by Genting, has launched several deals to attract visitors amid expectations of a drop in tourism numbers due to the virus outbreak. The integrated resort is running promotions this month for Adventure Cove Waterpark, Universal Studios Singapore and SEA Aquarium. Shares of Genting fell S$0.01 or 1.4 per cent to close at S$0.73 on Wednesday.

Lendlease Global Commercial Reit: The manager of the trust, which manages office buildings Sky Complex in Milan, said its tenant Sky Italia has activated its business contingency plan amid the Covid-19 outbreak in Italy. Sky Italia has made all rental payments on time and there are no arrears due from them, the manager added. Units of Lendlease Reit shed 2.5 Singapore cents or 3.1 per cent to close at 77.5 cents on Wednesday, before the announcement.

OEL (Holdings): The Catalist-listed firm on Thursday said it has entered into a non-binding memorandum of understanding for the proposed acquisition of a 51 per cent stake in Shanghai Longjian Hospital Management. OEL shares last traded at 1.6 Singapore cents on March 9, down 0.2 cent or 11.1 per cent.