Stocks to watch: OUE H-Trust, Fortune Reit, ABR, SingHaiyi

The SGX centre along Shenton Way.
The SGX centre along Shenton Way.ST PHOTO: DESMOND WEE

SINGAPORE - The following companies saw new developments which may affect trading of their shares on Wednesday (Dec 20):

OUE Hospitality Trust (OUE H-Trust): OUE H-Trust announced on Tuesday that it has drawn down on the term loan facilities and completed the refinancing of its total outstanding debts of US$859 million (S$1.2 billion) ahead of their maturity. This comes after OUE H-Trust entered into a facility agreement with BNP Paribas on Dec 13 for the grant of two term loan facilities and two revolving loan facilities totalling S$980 million.

Fortune Reit: Fortune Reit on Tuesday evening said that it has signed an agreement with an unnamed buyer to dispose of Provident Square in Hong Kong, which comprises of the shopping centre and the sub-basement of the entire residential and commercial development known as Provident Centre. The property is to be sold for HK$2 billion (S$345 million), plus the amount of net current assets or minus the amount of net current liability of the holding company of the property.

ABR Holdings: ABR Holdings said on Tuesday its wholly owned subsidiary, ABR Land, has entered into an agreement to buy 50 per cent of Bintan Lagoon Resort for S$65 million in cash. ABR runs chains such as Swensen's and Yogen Fruz here, but has been diversifying into property in recent months. In September, it acquired a 1,179.83 sq m plot in Kuala Lumpur for RM3.556 million (S$1.1 million). Bintan Lagoon Resort comprises a 413-key resort hotel, two 18-hole championship golf courses, 58 villas and leisure and food and beverage facilities, and sits on a site measuring about 311 ha.

SingHaiyi Group: Mainboard-listed SingHaiyi Group said on Tuesday that it has entered into a purchase and sale agreement, and initial escrow instructions for the bulk sale of all of its Vietnam Town Phase II units for a total cash consideration of US$95.3 million. The sale, which was made to an unrelated third party, will see a non-refundable deposit of US$7.5 million paid out in five tranches and held in escrow on conclusion of the agreement, SingHaiyi said in a filing with the Singapore Exchange.