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Mon, September 07, 2020 – 8:50 am
THE following companies saw new developments that may affect their securities trading on Monday:
Industrial real estate investment trust that complies with the Sabana Sharia (Sabana Reit): Quarz Capital Management and Black Crane Capital called on Monday that the trust’s senior management and independent directors resign if their proposed merger with ESR-Reit fails. In another letter, Quarz and Black Crane also asked the trustee to form an opinion on whether the trust manager “did not comply with the terms of the trust deed to the detriment of the participants.” Units of Sabana Reit closed unchanged at 37.5 Singapore cents on Friday.
CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT): The managers of the two trusts announced on Friday sweetening agreements for their proposed merger, such as a further backlog of their respective unit distribution, and the CMT manager’s decision to waive the S $ 111.2 million acquisition fee entirely. CMT units finished S $ 0.03 or 1.5% less at S $ 1.93, while CCT fell S $ 0.03 or 1.8% to S $ 1.65.
StarHub: The telecommunications company was fined Singapore $ 210,000 for the interruption of Internet service on April 15, Infocomm’s Media Development Authority said on Sunday. Up to 250,000 StarHub broadband subscribers were affected for about five hours during the incident. StarHub shares lost S $ 0.02 or 1.7% to S $ 1.18 on Friday.
Boustead Projects: Its wholly owned subsidiary has received a demand letter from lawyers acting on behalf of Veolia ES Singapore Industrial for the payment of S $ 17.8 million in connection with the settlement of damages for civil and related works. Shares in Boustead Projects closed unchanged at S $ 0.79 on Friday, ahead of the announcement.
CSE Global: The engineering-focused firm is seeking purchasing opportunities in the oil and gas and critical infrastructure segments in the US, as well as the infrastructure sector in Singapore and Australia, said the group’s managing director Lim Boon Kheng. , to The Business Times. Shares traded on the motherboard closed at 49.5 Singapore cents on Friday, a drop of 1.5 cents or 2.9%.
DBS, OCBC, United Overseas Bank (UOB): The trio of local banks averaged 4.2 percent in total returns in August 2020, outperforming the median total return of the top quartile of global bank stocks by market value, according to the Singapore Stock Exchange market update on Friday. DBS shares fell S $ 0.08 or 0.4% to close on Friday at S $ 20.68, OCBC fell S $ 0.07 or 0.8% to S $ 8.56, while UOB fell S $ 0.14 or 0.7% to S $ 19.45.
Wilmar International: Investors were surprised on Aug. 20 when Wilmar’s second-largest shareholder, Archer Daniels Midland, decided to cut his stake in the produce company. But the fall in Wilmar shares may have created a buying opportunity, and analysts say investors can expect several catalysts for the action. Wilmar shares were down S $ 0.08 or 1.8 percent to S $ 4.37 at the close on Friday.
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