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Stocks to watch: GLP, Q&M Dental, Frasers Logistics & Industrial Trust, Sinopipe, New Silkroutes, Pan-United
GLOBAL Logistic Properties: Singapore's logistics facilities provider Global Logistic Properties (GLP) said on Thursday it is continuing with its capital recycling strategy with the sale of GLP Narita in Japan to a private equity fund.
The sale price of 8.2 billion yen (S$103 million) equates to a 4.9 per cent cap rate and represents a 12 per cent premium to book value.
Q&M Dental Group: Mainboard-listed Q&M Dental said on Thursday it has received approval for the quotation of shares of Aidite on the new third board from China's National Equities Exchange and Quotations Co.
Aidite is Q&M's China manufacturing business conducted through its indirect unit, Qinhuangdao Aidite High Technical Ceramic Co.
Frasers Logistics & Industrial Trust: Frasers Logistics & Industrial Trust (FLT) is acquiring a new industrial facility in Sydney for A$58.2 million (S$61.6 million) from Frasers Property Australia, the Australian business unit of Frasers Centrepoint. On Wednesday, FLT said it has exercised a call option to acquire the logistics and industrial property in Wetherill Park, Sydney.
Sinopipe Holdings: Sinopipe disclosed on Wednesday that its management has been negotiating with an interested investor in China to restructure its operations.
The regulatory filing with Singapore Exchange did not provide further details, except to say that "the company will provide further updates on the outcome of the negotiation with the potential investor in due course".
New Silkroutes Group: New Silkroutes is placing out new shares to raise up to S$25 million for acquisitions and working capital, in what will be its largest fund-raising exercise in recent years. The group said on Wednesday night that it will issue up to 25.5 million new shares at approximately 97 Singapore cents each.
Pan-United Corporation: Shareholders of Pan-United approved the group's proposal to divest its tug and barge business under two subsidiaries for S$29.92 million in cash at an extraordinary general meeting held on Wednesday.