Stocks to watch: Ho Bee Land, DHLT, CLI, Frasers Property, QT Vascular, Banyan Tree

Tan Nai Lun

Published Fri, Mar 18, 2022 · 08:16 AM

THE following companies saw new developments that may affect trading of their securities on Friday (Mar 18):

Ho Bee Land: The property developer on Thursday said it had recently divested a commercial property known as Elementum located in Munich, Germany, booking an estimated gain on its notes investment of some 44.8 million euros (S$67.1 million) from the sale, according to preliminary information from Credit Suisse AG (Singapore). Shares of Ho Bee ended Thursday at S$2.81, up 0.4 per cent or S$0.01, before the announcement.

Daiwa House Logistics Trust (DHLT): Its manager on Thursday said 2 of its properties located near the earthquake zone - DPL Sendai Port and DPL Koriyama - have sustained "minor physical damage" from the magnitude 7.4 earthquake that struck the north-east coast of Japan shortly before midnight on Wednesday. Units of DHLT closed on Thursday at S$0.815 prior to the update, up 0.6 per cent or S$0.005.

CapitaLand Investment (CLI) and Frasers Property: CLI and Frasers Hospitality are not expecting a major impact to their businesses in Shenzhen after a spike in Covid-19 cases prompted the Chinese government to implement a lockdown of China's tech hub, their spokespersons told The Business Times. Shares in CLI closed at S$3.72 on Thursday, down S$0.01 or 0.27 per cent, while shares in Frasers Property were S$0.01 or 0.94 per cent higher, at S$1.07.

QT Vascular: The medtech company on Thursday said its 60 per cent-owned subsidiary, Eastern Dental Centre, has agreed to acquire the businesses of 3 Eastern Dental Surgery clinics for a total of S$1.3 million. The 3 clinics are the branches at Jurong West, Bukit Batok and Jurong East, and collectively make up the Eastern Dental Surgery Group. Shares of QT Vascular ended Thursday flat at S$0.005, before the announcement was made.

Banyan Tree Holdings: The hospitality company on Thursday said it appointed its president Eddy See as its new chief executive as part of the company's "leadership development and succession planning". See will also serve as the managing director of the company's hospitality management business unit. Shares of Banyan Tree closed flat on Thursday at S$0.30, before the release of the announcement.