Stocks to watch: Sembcorp, Sats, CapitaLand Ascott Trust, Raffles Medical
THE following companies saw new developments that may affect trading of their securities on Monday (Feb 3):
Sembcorp Industries: The energy and urban development company has inked a share purchase agreement with CleanCurrent Renewable Energy in the Philippines to acquire Puente Al Sol. This marks its entry into the country’s renewable energy market. The proposed acquisition, with a total consideration of S$105 million, will be funded via Sembcorp’s internal cash and borrowings, said the group on Friday. It is not expected to have a material impact on Sembcorp’s earnings per share or net tangible assets per share for the financial year ending Dec 31, 2025. Shares of Sembcorp closed 2.8 per cent or S$0.15 higher at S$5.58 on Friday.
Sats: It acquired the remaining 15 per cent stake in its Thai unit Sats Food Solutions (Thailand) (SFST) from Bangkok Ranch for about S$3.4 million. The transaction gives Sats total ownership of SFST and will deepen its strategic partnership with Japanese trading house Mitsui, which will take a 15 per cent stake in SFST, said the company on Friday. It is not expected to have a material impact on Sats’ net tangible assets per share or consolidated earnings per share for the current financial year ending Mar 31. Shares of Sats closed 0.3 per cent or S$0.01 lower at S$3.39 on Friday.
CapitaLand Ascott Trust (Clas): It acquired two freehold limited-service hotels in Japan for 21 billion yen (S$178.5 million). The chief executive of its managers Serena Teo said that the deal – which is priced at an 8.3 per cent discount to independent valuation – is part of its portfolio reconstitution strategy to enhance its portfolio quality and deliver stable returns to its stapled securityholders. Stapled securities of Clas ended flat at S$0.895 on Friday.
Raffles Medical: Two veteran bankers have been designated to the board of Raffles Health Insurance, the insurance unit of Raffles Medical, as non-executive and independent directors with effect from Feb 1. With their “vast experience” in banking and finance, former UOB managing director of group credit for commercial banking and structure trade Eric Tham and seasoned investment banker Tan Jeh Wuan will be able to contribute positively to the business, said Raffles Medical Group executive chairman Loo Choon Yong. Shares of Raffles Medical closed S$0.005 or 0.6 per cent higher on Friday at S$0.835.
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