Stocks to watch: OCBC, Singtel, F&N, Centurion Accommodation Reit, Prime US Reit

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Sep 25):

OCBC : The bank on Wednesday said Carina Lee, its current group chief credit officer for wholesale, will be its new chief risk officer from 2026. She replaces Noel Gerald DCruz, who will retire at the end of 2025. Lee will also be on the bank’s management committee, having joined OCBC at the start of 2021. Prior to joining OCBC, Lee was with Standard Chartered Bank, where she held several senior leadership roles. The counter closed 0.5 per cent or S$0.08 down at S$16.36 on Wednesday, before the announcement.

Singtel : Wholly owned Australian subsidiary Optus on Wednesday was fined A$100 million (S$85.1 million) for selling phones and contracts to disadvantaged consumers. This fine comes as Optus was mired in an incident where three deaths were linked to a botched network upgrade that had emergency calls blocked for about 13 hours. Many of the affected individuals had mental disabilities, diminished cognitive capacity, learning difficulties, limited financial literacy, were unemployed, or did not use English as a first language. Shares of Singtel closed 0.2 per cent or S$0.01 down at S$4.26 on Wednesday.

Fraser and Neave (F&N) : The beverage manufacturer said on Wednesday that it has appointed Rahul Colaco as its new chief executive officer, effective Oct 1. He succeeds Hui Choon Kit, who will retire and step down on Sep 30. Colaco has 28 years of experience, having most recently been chief of spirits (international) at Thai Beverage in 2024. Between 2020 and 2024, he was CEO of Grand Royal Group in Myanmar. Shares of F&N closed trading 0.7 per cent up or 0.01 at S$1.49, before the update.

Centurion Accommodation Real Estate Investment Trust (Reit) : The manager of Centurion Accommodation Reit on Wednesday said that its 262.2 million units on offer were over subscribed by 16.6 times. The offer comprised an international placement tranche of 249 million units for investors outside of the US, and 13.2 million units for the public in Singapore, subject to an over-allotment option of up to 51.1 million units. The placement tranche was oversubscribed by about 16 times, and the Singapore public offer by around 30.9 times. The counter will begin trading on the Singapore Exchange at 2 pm on Wednesday.

Prime US Reit : The manager of Prime US Reit launched a private placement on Thursday to raise about US$25 million. In a bourse filing, it said the issue price will be between US$0.1935 and US$0.2 per new unit. As the joint bookrunners and underwriters, DBS Bank and Maybank Securities have agreed to procure subscriptions for or place out, failing which to subscribe and pay for the new units at the issue price per new unit. The placement will be used to finance capital expenditure, secure new tenants, retain existing tenants or satisfy its obligations to existing tenants. Shares of Prime US Reit were 2.3 per cent or S$0.005 up at S$0.22 on Wednesday, before it called for a trading halt on Thursday.