Stocks to watch: Singtel, AA Reit, Cosco Shipping, Hiap Tong

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

Singtel: Z74 : Z74 0% The telco on Friday announced that its wholly-owned subsidiary has entered into a conditional agreement with AS Infra Tower to sell 70 per cent of its shares in Australia Tower Network. The aggregate cash proceeds is approximately A$1.9 billion (S$1.46 billion). Shares of Singtel closed down S$0.01 or 0.4 per cent at S$2.46 on Thursday.

Aims Apac Reit (AA Reit): O5RU The manager of the real estate investment trust (Reit) is acquiring the headquarters of Australian supermarket and grocery chain Woolworths for A$463.3 million, it said on Thursday. Post-acquisition, Woolworths will become the largest tenant in AA Reit's portfolio, and significantly enlarge the portfolio value by over 26.6 per cent to S$2.18 billion. Units of AA Reit closed S$0.01 or 0.7 per cent higher at S$1.44 on Thursday, before the announcement.

Cosco Shipping International: F83 The logistics management service provider on Thursday announced the proposed disposal of a 60 per cent stake in Cosco Shipping Singapore for US$42.4 million in an interested party transaction. Shares of Cosco Shipping International closed half a Singapore cent or 1.8 per cent higher at 28 cents on Thursday, before the announcement.

Hiap Tong Corporation: 5PO The hydraulic lifting and haulage services provider on Thursday announced that its wholly owned indirect subsidiary, HT Ports Services, has won a contract worth S$36.4 million from the Land Transport Authority, for the provision of services for MRT projects for a period of five years. Shares of Hiap Tong closed 0.6 Singapore cent or 9.2 per cent higher at 7.1 cents on Thursday, before the announcement.

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