Stocks to Watch: UOB, lendlease Reit, IHH Healthcare, Cordlife
Singapore – Several companies are in focus for Thursday trading following recent developments.
UOB saw a boost after a High Court judge upheld a S$17.7 million award to the bank in it’s lawsuit against Lippo Marina Collection, related to inflated housing loans. While UOB had sought S$92 million, the judge noted the bank “failed to mitigate its losses fully.” Shares of UOB rose 0.2 per cent, or S$0.06, to close at S$33.92 before the Wednesday announcement.
Lendlease Reit completed the S$234.3 million acquisition of 70 per cent of the units in PLQM Trust, which owns PLQ Mall. The seller was reportedly Abu Dhabi Investment Authority.the acquisition was funded in part by a S$280 million private placement of units,with S$234.5 million specifically allocated to the purchase. Lendlease Reit units closed down 0.8 per cent, or S$0.005, at S$0.615 on Wednesday.
IHH Healthcare Berhad announced the completion of its proposed acquisition of a 27.91% stake in Apollo Hospitals Enterprise Limited (Apollo), marking a important expansion in the Indian healthcare market.
Cordlife Group Limited is facing scrutiny following a police investigation into potential breaches of the Private Banking Act related to the handling of cord blood units. Trading in the company’s shares has been suspended as November 23.
