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Stocks to watch: Frasers Centrepoint Trust, Frasers Property, CMT, CCT, PLife Reit
THE following companies saw new developments that may affect trading of their securities on Friday:
Frasers Centrepoint Trust (FCT), Frasers Property: Mainboard-listed FCT is proposing to raise up to S$1.39 billion in equity to buy the rest of AsiaRetail Fund from its sponsor Frasers Property for some S$1.06 billion. Separately, FCT plans to divest Bedok Point to Frasers Property for a sale price of S$108 million. FCT units fell S$0.08 or 3.1 per cent to S$2.54 on Thursday before the announcement. Shares of Frasers Property closed at S$1.16 on Thursday, down S$0.01 or 0.9 per cent.
CapitaLand Mall Trust (CMT), CapitaLand Commercial Trust (CCT): The long-stop date for the proposed merger between the two property real estate investment trusts (Reits) has been extended to Nov 30 from Sept 30, their managers announced on Friday. Both Reits will hold their respective unitholder meetings on Sept 29 to seek approval for the proposed deal. CMT units closed flat at S$1.96 on Thursday, while CCT units finished at S$1.68, up S$0.01 or 0.6 per cent.
Parkway Life Reit (PLife Reit): The healthcare Reit will be included in the FTSE EPRA NAREIT Global Developed Index after the close of business on Sept 18. The counter rose S$0.03 or 0.8 per cent to S$3.89 on Thursday, before this announcement.
Hosen Group: Shares of the Catalist-listed firm surged 70.3 per cent during the morning trading session on Thursday, prompting a query from the Singapore Exchange about "unusual price and volume movements". The counter closed at 5.5 Singapore cents on Thursday, up 1.8 cents or 48.7 per cent.
DBS Bank: The lender told The Business Times that it is seeing strong growth in its private bank business. DBS is looking to expand further in Thailand and the Philippines, where high-net-worth families are keen to diversify their exposure and invest in Reits. DBS shares closed at S$20.76 on Thursday, down S$0.11 or 0.5 per cent.
MindChamps PreSchool: The mainboard-listed preschool operator has partnered education seminar company Success Resources to promote the former's franchise model in Australia. Shares of MindChamps closed flat at 29.5 Singapore cents on Thursday, before the announcement.
Chip Eng Seng: The property development and construction firm's wholly-owned subsidiary, CES Edutech, has fully converted a US$4.95 million loan provided to Cybint International into shares. The counter closed flat at S$0.46 on Thursday, before the news.
Spackman Entertainment Group: The regulatory arm of the Singapore Exchange is blocking a proposed divestment by the Catalist-listed media player, pending a review of certain past acquisitions. The counter closed flat at 0.7 Singapore cent on Thursday, before this announcement.