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Stocks to watch: Singtel, SATS, Sasseur Reit, UOB, Roxy-Pacific, BreadTalk
THE following companies saw new developments that may affect trading of their securities on Monday:
Singtel: Telcos Singtel, AIS from Thailand and SK Telecom from South Korea have teamed up to make a Series A investment of an undisclosed amount in a regional gaming joint venture that they hope will engage 800 million gamers in the region. Singtel shares closed at S$2.95 on Friday, down S$0.06 or 2 per cent.
SATS: The airport and food services provider on Monday announced a 15 per cent pay cut for its president and chief executive Alex Hungate amid a series of further cuts which took effect from March 1. SATS also warned of substantial impact to its financial results for its fourth quarter and full year ending March 31, 2020. SATS shares ended S$0.02 or 0.5 per cent lower at S$4.03 on Friday.
Sasseur Real Estate Investment Trust (Reit): The Reit will be reopening its Kunming outlet mall on March 11 following approval from relevant local authorities, its manager said on Monday. Sasseur Reit units closed at 75.5 Singapore cents on Friday, down two cents or 2.6 per cent.
United Overseas Bank (UOB): The lender and Prudential Singapore have launched a savings account that offers complimentary medical insurance for six female-related cancers, believed to be the first such savings plan in Singapore. UOB shares closed at S$23.24 on Friday, down S$0.50 or 2.1 per cent.
Roxy-Pacific Holdings: The mainboard-listed property and hospitality group on Friday announced it has entered into an agreement for the disposal of its retail building in Japan for 8.7 billion yen (S$113 million). Roxy-Pacific shares closed unchanged at 36.5 Singapore cents on Friday.
BreadTalk Group: The mainboard-listed group has appointed PrimePartners Corporate Finance as the independent financial adviser for the S$0.77 per share voluntary cash offer that will take the company private. BreadTalk shares closed at 76 Singapore cents on Friday, up 0.5 Singapore cent or 0.7 per cent.