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Stocks to watch: Singtel, CapitaLand, Mapletree Industrial Trust, SPH, Oxley, Creative

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

Singapore Telecommunications (Singtel): is in early-stage talks to buy a stake worth at least US$2 billion in Singtel associate Bharti Airtel, three sources with knowledge of the matter told Reuters. Singtel shares closed at S$2.58 on Thursday, up S$0.01 or 0.4 per cent. 

CapitaLand: Property giant CapitaLand has proposed a scrip dividend scheme that will allow shareholders to receive their cash dividends in the form of new shares. Separately on Friday, CapitaLand said it has opened a 250 metre high Exploration Deck Viewing Gallery at its Raffles City Chongqing shopping mall in China. CapitaLand shares closed at S$3.14 on Thursday, down S$0.06 or 1.9 per cent.

Mapletree Industrial Trust (MIT), Singapore Press Holdings (SPH): MIT will join the benchmark Straits Times Index (STI) from June 22, replacing SPH, following the latest quarterly review of the STI by FTSE Russell. Shares of SPH closed up 0.7 per cent or S$0.01 at S$1.37 on Thursday, while units in MIT closed at S$2.65, down S$0.04 or 1.5 per cent.

Oxley Holdings: Property developer Oxley Holdings on Friday said its wholly-owned subsidiary, Oxley Bright, has disposed of its entire 18.77 per cent stake in Galliard Group for some £30 million (S$52.9 million). Shares in Oxley Holdings closed at S$0.26 on Thursday, up S$0.01 or 4 per cent.

Creative Technology: Creative Technology will be launching its range of Super X-Fi products in China online on Friday via live-streaming, it said on Thursday. Creative shares fell S$0.06 or 2.5 per cent to S$2.30 on Thursday, before this announcement.

mDR: Mainboard-listed mDR has proposed to undertake a 100-for-one share consolidation, subject to shareholders' approval at an extraordinary general meeting. The counter closed flat at 0.1 Singapore cent on Thursday.

Sakae Holdings: Sushi chain Sakae said it expects consumer demand to remain weak, with reduced revenue for the period from April 1 to June 30 adversely impacting the group's financial performance. Sakae shares last changed hands at 4.5 Singapore cents on May 26.

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