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Stocks to watch: Mapletree, StarHub, Datapulse, Vibrant Group
THE following companies saw new developments which may affect trading of their shares on Thursday:
Mapletree: Mapletree Investments has acquired a 16.5 million square foot logistics portfolio for US$1.1 billion from Prologis, Inc. The assets are located in distribution centres within major logistics markets such as Chicago, Dallas and Seattle in the US, as well as France, Germany and Poland, Mapletree said on Wednesday.
StarHub: Telco StarHub is sending more than one-tenth of its staff to the chopping block, with its recently-appointed chief executive saying that the move was necessary as part of a strategic transformation amid "current industry pressures". About 300 full-time employees are being let go, StarHub confirmed in a statement on Wednesday evening, while other roles will be dropped by "ongoing natural attrition" and a clampdown on contractor positions.
Datapulse Technology: Datapulse Technology has entered into a non-binding letter of intent (LOI) with a South Korean company for the proposed acquisition of a hotel in Seoul. The LOI gives Datapulse exclusivity to conduct due diligence on the deal, and the proposed acquisition is subject to it being satisfied with the results of the due diligence, Datapulse said on Wednesday.
Vibrant Group: Mainboard-listed Vibrant Group is seeking noteholders' approval to waive certain key obligations for its S$66 million, 7.50 per cent notes due 2020.