Stocks to watch: ThaiBev, F&N, CapitaLand, CDL, ESR-Reit, SLB Development
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The Singapore Exchange Centre in Shenton Way.
PHOTO: ST FILE
SINGAPORE - The following companies saw new developments that may affect trading of their securities on Thursday (Sept 26):
Thai Beverage, Fraser and Neave: Thai Beverage's (ThaiBev) indirect associated company Fraser and Neave (F&N) has started operations at Emerald Brewery Myanmar as it seeks to take another crack at the fast-growing market. Emerald Brewery, a joint venture between F&N and local partners, has established a greenfield brewery in Yangon, to brew Chang Beer and distribute it to the rest of the country. F&N's capital investment of US$70 million (S$96.5 million) has been deployed towards building the modern brewery. Shares of ThaiBev closed at $0.89 on Wednesday, down 1.5 cent or 1.66 per cent, before the announcement. Shares of F&N closed at $1.73, down one cent or 0.58 per cent.
CapitaLand: In an interview published on Thursday, the retail landlord told The Business Times that it has been weathering the tough retail environment by working more closely with its tenants. Jason Leow, CapitaLand's president of Singapore and international, credits the group's performance to a few strategies, including a loyalty programme as well as mall revamps. Shares of CapitaLand closed at $3.48 on Wednesday, down three cents or 0.86 per cent.
City Developments Limited (CDL): The property developer has unveiled the revamped Republic Plaza in Raffles Place, following an extensive $70 million makeover. Its asset enhancement initiative included a makeover of the main lobby, arrival frontage and individual lift lobbies, as well as an expanded retail podium. CDL has also created a smart building mobile app for tenants, and converted a basement unit into an incubator and coworking space for startups and social enterprises. CDL shares closed at $9.67 on Wednesday, down nine cents or 0.92 per cent.
ESR-Reit: The industrial real estate investment trust (Reit) will open its preferential offering for subscription at 9am on Thursday. The pro rata and non-renounceable offering of about 98.1 million new units is meant to raise gross proceeds of up to $50 million. The offering will close on Oct 4. Units of ESR-Reit ended trading at 53.5 cents on Wednesday, up one cent or 1.91 per cent.
SLB Development: The Catalist-listed firm is looking to sell a freehold industrial property in Geylang for $13.5 million. SLB said on Wednesday evening that it had entered into a share sale and purchase agreement with Jun Yuan Holdings to divest Wellprime, its wholly-owned subsidiary which owns the property. The proceeds of the proposed disposal would be used for the discharge of the bank loan related to the property, acquisition of potential development property and for general working capital purposes. The counter was flat at 11.5 cents on Wednesday.
