The following companies saw new developments that may affect trading of their securities on Tuesday (Nov 7):
About 2.5 million Singapore payment and ATM transactions couldn’t be completed during DBS Group Holdings Ltd and Citigroup Inc.’s recent outage, causing widespread inconvenience to the city-state’s population of almost 6 million.
Frasers Hospitality Trust is among Singapore-listed businesses affected by the fallout of a renowned Zimbabwean forest-conservation carbon-crediting project that has drawn flak for allegedly blowing up numbers related to its impact on halting deforestation.
Singapore Post’s (SingPost) proposed acquisition of BEX Group will delay its deleveraging, heightening integration and execution risk during a phase of business transformation, say S&P Global Ratings’ analysts.
CapitaLand Ascott Trust (CLAS) is divesting two hotels in Sydney, Australia for a total of A$109.0 million ($95.6 million). The two properties, which are Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta, will be divested at about 5% above book value. The divestments are expected to be completed by 1Q2024 and 3Q2024 respectively. Following the divestment, the trust will net proceeds of A$98.0 million.
