Singapore Stocks to Watch: CapitaLand Ascendas Reit, SIA Engineering

Tiger Newspress2023-12-21

The following companies saw new developments that may affect the trading of their securities on Thursday (Dec 21):

CapitaLand Ascendas Reit (A17U): CapitaLand Ascendas Real Estate Investment Trust (Reit) has agreed to sell three of its logistics properties in Queensland, Australia for S$64.2 million in total.

The sale consideration represents a premium of 6.2 per cent over the total market valuation of the properties – 77 Logistics Place, 62 Sandstone Place and 92 Sandstone Place – which stood at S$60.4 million as at Aug 31.

The three properties were purchased in 2015 between October and November.

SIA Engineering (S59): SIA Engineering Company (SIAEC) unit Base Maintenance Malaysia has signed a 15-year lease agreement for two hangars at Sultan Abdul Aziz Airport in Subang, Malaysia.

In a bourse filing on Wednesday (Dec 20), SIAEC – a provider of aircraft maintenance, repair and overhaul (MRO) services – said the agreement, which carries an option to renew for another 15-year term, is significant as it establishes the group’s third base maintenance hub in the Asia-Pacific region.

The Subang hangars, each able to fit two wide-body aircraft, will boost the company’s airframe check capacity in providing comprehensive MRO of current and next-generation aircraft for its expanding portfolio of airline customers, it noted.

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