Stocks to watch: CapitaLand, TEE International, SBI Offshore
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Capitaland Limited: The real estate juggernaut has set up its first private equity fund in Vietnam that closed at US$300 million to boost its expansion into Grade A commercial real estate in Vietnam. The commercial fund – CapitaLand Vietnam Commercial Fund I (CVCFI) – will have a life span of eight years, with CapitaLand holding a 40 per cent stake while the remaining interests will be held by major institutional investors.
TEE International: Trading in the shares of TEE International will resume on Tuesday following the release of the outcome of a scheme meeting on Monday. The counter was last traded at 21 Singapore cents. The company announced that the proposed scheme of arrangement involving a buyout offer by its group chief executive and managing director Phua Chian Kin at 21.5 Singapore cents cash apiece was not approved by the requisite majority.
SBI Offshore Limited: Catalist-listed SBI Offshore announced the cessation of Chan Lai Thong as its chief executive officer effective Aug 16, 2017. Interestingly, the company said that its sponsor, Asian Corporate Advisors, was not able to conduct an exit interview as at the date of the announcement and that it has not been able to obtain Mr Chan’s confirmation on the contents of the announcement.
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