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Stocks to watch: OCBC, CapitaLand, Suntec Reit, Singtel, MLT, OUE C-Reit
THE following companies saw new developments that may affect trading of their shares on Tuesday:
OCBC Bank, CapitaLand: OCBC and CapitaLand have inked Singapore's inaugural loan facility agreement referencing the Singapore Overnight Rate Average, for a S$150 million three-year corporate loan. Shares of OCBC Bank finished Monday at S$8.94, down S$0.30 or 3.3 per cent, while CapitaLand lost S$0.04 or 1.3 per cent to close at S$2.96.
Suntec Real Estate Investment Trust (Suntec Reit): Its manager on Tuesday said it expects the trust's performance in the second half of this year to improve as Singapore eases out of the "circuit breaker", and on additional contribution from completed developments. The manager was responding to shareholders' questions submitted ahead of Suntec Reit's annual general meeting on June 16. Units of Suntec Reit closed Monday at S$1.46, down S$0.01 or 0.7 per cent.
Singapore Telecommunications (Singtel): Singtel's key telco associate in Thailand was found not liable for a claim of 7.22 billion baht (S$324 million), according to a court decision announced on June 12. Singtel shares shed S$0.03 or 1.2 per cent to S$2.52 on a cum-dividend basis on Monday.
Mapletree Logistics Trust (MLT): MLT has inked a conditional agreement for a newly-built freehold warehouse in Brisbane for A$21.25 million (S$20.17 million), the manager announced on Monday. Units in MLT closed at S$1.86 on Monday, lower by S$0.03 or 1.6 per cent, before this announcement.
OUE Commercial Real Estate Investment Trust (OUE C-Reit): OUE C-Reit has priced an offering of S$100 million of 4 per cent notes due 2025, to be guaranteed by Reit trustee DBS Trustee. Units in OUE C-Reit closed at S$0.39 on Monday, down S$0.01 or 2.5 per cent, before the news.
Accordia Golf Trust (AGT): The decision by AGT to set aside 1.56 billion yen (S$20 million) as reserves in the March quarter has reduced AGT's latest semi-annual payout by almost half, and warrants a more detailed explanation, the largest minority unitholder of AGT has argued in an open letter. The counter fell 1.5 Singapore cents or 2.5 per cent to close at 57.5 cents on Monday.
Lum Chang Holdings: The mainboard-listed construction group Lum Chang has clinched a S$155.5 million contract to refurbish the iconic former State Courts building in Havelock Square. The counter closed flat at 31.5 Singapore cents before the latest announcement.
Hatten Land: Catalist-listed property developer Hatten Land sank deeper into the red for the third quarter, as a spike in expenses added to sales woes from the coronavirus pandemic. Its third-quarter net loss widened to RM32.3 million (S$10.5 million) for the three months to March 31, from RM1.54 million a year ago. The counter added 0.3 Singapore cent or 4.6 per cent to 6.9 Singapore cents on Monday, before its results announcement.