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.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Stoxx 600 falls on banks drag; tech contains losses on ASMI boost
US: Stocks end flat ahead of key inflation data
Hong Kong spot crypto ETFs to start trading next week
Greenback recovers from PMI slump, yen closes in on 155 per dollar
Hong Kong Stock Exchange bids farewell to first woman chair
Asia stocks rise on Wednesday amid Wall Street rally; STI up 0.6%