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Stocks to watch: Ley Choon, Tee Land, Otto Marine, First Reit, Lippo Malls Indonesia Retail Trust
THE following companies have made announcements that may impact their counters' movements on Singapore Exchange on Monday:
Ley Choon Group, Tee Land: Ley Choon has entered into a debt-restructuring agreement with its lenders, a move that will result in the sale of its real-estate development subsidiary to Tee Land for about S$11.5 million.
Otto Marine: Creditors are seeking the winding up of two of Otto Marine's subsidiaries in Australia, and are claiming A$787,204 (S$814,580) from the offshore marine group.
First Reit, Lippo Malls Indonesia Retail Trust: The two trusts' parent Lipo Karawaci is looking to list a real estate investment fund in Indonesia. In a recent interview with The Business Times, Lippo Karawaci executive director Mark Wong said the company has filed to set up the fund, which will hold four office buildings (Menara Matahari, Menara Asia, Lippo Kuningan and Berita Satu Plaza) and a distribution centre in Balaraja, Java, Indonesia.