Singapore stock watch: SIA, Keppel, Khong Guan, Guocoland, Lendlease Reit

SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Friday (March 13):

Singapore Airlines (SIA): The national carrier on Thursday announced flight cuts until June to destinations such as Rome and China due to tepid travel demand. SIA is also evaluating the impact of the United States' Europe travel ban on operations. SIA shares shed $0.34 to close at $7.34 on Thursday.

Keppel Corporation: The Business Times (BT) understands that Keppel and Temasek Holdings are in the midst of clearing the pre-conditions for a voluntary pre-conditional partial offer discussed last October. Despite a major beating to Keppel's share price this week, as of now, the price still stands at $7.35 and the offeror's original intention remains unchanged, BT understands. On Thursday, Keppel hit $5.17, a price last seen in 2016.

Khong Guan: The mainboard-listed biscuit maker saw its net loss widen slightly to $636,000 for the half year ended Jan 31, 2020, from $634,000 a year ago. The counter closed at $1.84 on Thursday, up $0.07 or about 4 per cent, before the results were released.

Guocoland: The property developer has established a new subsidiary called Chongqing Xin Hao Ren Real Estate Development Company in China. The subsidiary is not expected to have any financial impact on the group's net tangible assets and earnings for the financial year ending June 30, 2020.

Lendlease Global Commercial Reit: The real estate investment trust (Reit) said on Friday that is offering a 0.2 month rent rental waiver in April and May to eligible tenants at 313@somerset amid the coronavirus outbreak. It is also passing on the full savings of the Government's 15 per cent property tax rebate.

Stamford Land Corporation: The hotel operator has incorporated an Australia-based subsidiary which is also a hotel operator. SPM Management, with a paid up share capital of A$100,000 (S$892,500), is funded by internal resources and is not expected to have an impact on Stamford Land's net tangible assets and earnings for the current financial year ending March 31, 2020.

Sasseur Real Estate Investment Trust: The trust's manager on Friday said it will resume full operations after two more China outlet malls reopen on March 15. The temporary mall closures had begun in January due to the coronavirus outbreak in China. Sasseur Reit units closed down four cents or 5.6 per cent to 67.5 cents on Thursday.

United Hampshire US Reit: Units of Asia's first grocery-anchored retail and self-storage Reit plunged 20 per cent on their first day of trading from the initial public offering price of US$0.80 to close at US$0.64 on Thursday. In all, 12.1 million units changed hands during the day.

3Cnergy: No offers were made to the investment holding company's Malaysia-based subsidiary, 3C Marina Park, for a seven-week public tender of three freehold plots of land in Johor's Puteri Harbour. The company said it is now "exploring alternative plans".

Sim Leisure Group: Malaysia-based food and beverage group Tropika Kiara and its director, Tan Boon Seng, have become substantial shareholders with 10 per cent of the Catalist-listed company's shares. Meanwhile, Sim Leisure chief executive Sim Choo Kheng's shareholding dropped from 77.93 per cent to 67.93 per cent following the transaction.