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Friday, September 04, 2020-9: 22 am
THE following companies saw new developments that may affect their securities trading on Friday:
Frasers Centrepoint Trust (FCT), owned by Frasers: FCT, which is listed on Mainboard, is proposing to raise up to S $ 1.39 billion in capital to buy the remainder of the Asia Retail Fund from its sponsor Frasers Property for about S $ 1.06 billion. Furthermore, FCT plans to sell Bedok Point to Frasers Property for a sale price of S $ 108 million. FCT units fell S $ 0.08 or 3.1 percent to S $ 2.54 on the Thursday before the announcement. Shares of Frasers Property closed at S $ 1.16 on Thursday, down S $ 0.01 or 0.9%.
CapitaLand Mall Trust (CMT), CapitaLand Commercial Trust (CCT): The deadline for the proposed merger between the two real estate investment trusts (Reits) has been extended to November 30 from September 30, their managers announced Friday. Both Reits will hold their respective shareholder meetings on September 29 to seek approval of the proposed deal. CMT units closed unchanged at S $ 1.96 on Thursday, while CCT units ended at S $ 1.68, an increase of S $ 0.01 or 0.6%.
Parkway Life Reit (PLife Reit): The Healthcare Reit will be included in the FTSE EPRA NAREIT Global Developed Index after the close of business on September 18. The accountant rose S $ 0.03 or 0.8 percent to S $ 3.89 on Thursday, ahead of this announcement.
Hosen Group: Shares in the Catalist-listed firm rose 70.3 percent during Thursday’s morning trading session, prompting a query from the Singapore Stock Exchange about “unusual price and volume movements.” The counter closed at 5.5 Singapore cents on Thursday, an increase of 1.8 cents or 48.7 percent.
DBS Bank: The lender said The Business Times you are experiencing strong growth in your private banking business. DBS is looking to expand further in Thailand and the Philippines, where high net worth families are eager to diversify their exposure and invest in Reits. Shares of DBS closed at S $ 20.76 on Thursday, down S $ 0.11 or 0.5%.
MindChamps Preschool: The preschool operator featured on the motherboard has partnered with the educational seminar company Success Resources to promote the former’s franchise model in Australia. Shares of MindChamps closed unchanged at 29.5 Singapore cents on Thursday, ahead of the announcement.
Chip Eng Seng: The property development and construction company’s wholly owned subsidiary, CES Edutech, has converted a US $ 4.95 million loan to Cybint International into shares. The counter closed flat at S $ 0.46 on Thursday, ahead of the news.
Spackman Entertainment Group: The regulatory arm of the Singapore Stock Exchange is blocking a proposed divestment by the Catalist-listed media player, pending a review of certain past acquisitions. The counter closed flat at 0.7 Singapore cents on Thursday, ahead of this announcement.
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