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Stocks to watch: Frasers Logistics & Industrial Trust, Singtel
NEW developments that occurred before market open may affect the following companies' share prices on Thursday:
Frasers Logistics & Industrial Trust: The Australian industrial property play said that 78 million new units at S$1.01 apiece will start trading at 9am on Thursday. For existing units, the trust manager intends to declare a distribution of the distributable income for the existing units that cover the period from April 1, 2017 to July 5, 2017.
Singtel: The telecommunications giant has received provisional permission from the Urban Redevelopment Authority to redevelop its Hill Street property into a hotel, setting the stage for the sale of the asset, The Business Times reported. Assuming that an upscale (or four-star) hotel is built on the site, the gross development value could be, say, S$1 million per room - translating to an absolute quantum of S$172 million.