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Stocks to watch: SIA, Keppel, Centurion, Ascendas Reit, First Reit
THE following companies saw new developments that may affect trading of their shares on Monday:
Singapore Airlines (SIA): The national carrier's local pilots will take additional pay cuts to stave off layoffs as it restructures to rightsize its operations. It is understood 59 pilots on employment passes were informed last Monday that they would be let go. Also being let go are the cadet pilots. SIA shares closed at S$3.50 on Friday, down S$0.03 or 0.9 per cent.
Keppel Corp: The conglomerate on Monday said its asset management arm, Keppel Capital, is partnering the National Pension Service of Korea to explore investment opportunities for private infrastructure in Asia. Keppel Corp shares closed at S$4.28 on Friday, up S$0.08 or 1.9 per cent.
Centurion Corp: The worker and student accommodation provider on Monday said it plans to exchange all of the outstanding S$60 million due-2022 notes for a like principal amount of new 3.5 year fixed-rate notes due in 2024. Also, it is inviting the noteholders to sell the existing notes back to the company for cash. Centurion shares fell 0.5 Singapore cent or 1.5 per cent to finish Friday at 34 cents.
Ascendas Real Estate Investment Trust (Ascendas Reit): The business space and industrial Reit is acquiring a suburban office building in Sydney for A$167.2 million (S$161 million) from Frasers Property Industrial and Winten Property Group. Ascendas Reit units closed flat at S$3.28 on Friday, before this announcement.
First Reit: Its manager said on Sunday that it has received a non-binding proposal regarding a proposed rental restructuring from former parent company Lippo Karawaci. Units of First Reit were trading at 47 Singapore cents on Monday at 9.30am, up 1.5 cents or 3.3 per cent.
iX Biopharma: The Catalist-listed firm has been granted a patent in Israel for its WaferiX drug delivery technology, it said in a bourse filing on Monday. Shares of iX Biopharma ended Friday flat at S$0.22.
CapitaLand Commercial Trust (CCT), CapitaLand Mall Trust (CMT): The chief executive of CCT's manager, Kevin Chee, told The Business Times that the proposed merger with CMT is "a strategic merger of equals" and not a takeover. CCT units closed at S$1.74 on Friday, down S$0.01 or 0.6 per cent, while CMT units closed at S$2.03, down S$0.02 or 1 per cent.
Raffles Education: The private education provider on Saturday said the requisition notice by substantial shareholder Oei Hong Leong, Oei Hong Leong Art Museum and Indian edtech businessman Shantanu Prakash to hold an extraordinary general meeting is without merit. The counter closed at 18.1 Singapore cents on Friday, up 0.1 cent or 0.6 per cent.