Stocks to watch: Mapletree Logistics Trust, GL, Jardine Strategic, Yanlord, Matex

THE following companies saw new developments that may affect trading of their shares on Friday:

Mapletree Logistics Trust (MLT): The real estate investment trust has completed the acquisition of five freehold logistics properties in South Korea for 280 billion won (S$334.8 million). Units of MLT rose 1.1 per cent or S$0.02 to S$1.91 at Thursday close, before the filing was made.

GL Limited: The Guoco Group unit looking to take hotel operator GL private intends to exercise its right of compulsory acquisition, after the number of valid acceptances it received crossed the 90 per cent mark as at 6pm on Thursday. The offer remains open until 5.30pm on April 1. Shares of mainboard-listed GL closed flat at S$0.80 on Thursday.

Jardine Strategic Holdings: The Securities Investors Association (Singapore) is arranging for individual shareholders of the company that are against the acquisition of the company by Jardine Matheson Holdings to connect with institutional shareholders, to be collectively represented by Bermuda lawyers. Jardine's counter rose 1.1 per cent or S$0.35 to S$33.30 on Thursday.

Yanlord Land Group: The real estate developer has been given an outlook rating of "stable" by S&P Global Ratings, an improvement from its "negative" rating previously, according to S&P Global Ratings' analytical report the mainboard-listed company filed with the Singapore Exchange on Thursday. The counter rose 1.7 per cent or S$0.02 to S$1.19 on Thursday, before the report was filed.

Matex International: The Catalist-listed company is in discussion with a third party on a possible sale of some assets with the objective of enhancing shareholders' value. However, it is not confirmed that the transaction will be completed even after an agreement has been inked. Matex closed at 2.8 Singapore cents, up by 0.1 cent or 3.7 per cent.

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Singapore O&G: The Catalist-listed firm is establishing a postpartum confinement centre in Johor. Under a newly-formed venture, the company will pump in RM1.96 million (S$640,000) for a 49 per cent stake and two board seats. The venture is not expected to change the risk profile of the group. The counter closed at S$0.26, up 2 per cent or half a cent before the venture was announced.