Stocks to watch: SGX, Frasers Centrepoint Trust, NTT DC Reit, BRC Asia

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 15):

Singapore Exchange (SGX): Shares of Hong Kong-listed pharmaceutical group China Medical System are expected to commence trading on the SGX on Jul 15, although there is no guarantee that the proposed listing will happen as it is subject to conditions. The closing price of its shares as quoted on the Hong Kong Stock Exchange on Monday was HK$12.540, the company said in a bourse filing on Monday. SGX shares closed on Monday 1.2 per cent or S$0.18 higher at S$15.64.

Frasers Centrepoint Trust (FCT): The manager of FCT announced that the agreement between the trustee-manager and property manager of retail mall Northpoint City South Wing has been automatically renewed for a further 12 months commencing from Monday. The agreement is generally aligned with the property management agreements across all retail malls owned by FCT and managed by the property manager, and include the adjoining retail mall known as Northpoint City North Wing. Units of FCT closed up 1.4 per cent or S$0.03 at S$2.22 before the news.

NTT DC Reit: Units of the real estate investment trust (Reit) commenced trading on the local bourse at 2 pm on Monday, marking the largest Reit initial public offering on the SGX in a decade. Pol de Win, head of global sales and origination at SGX Group, noted that the listing “underscores Singapore’s position as Asia’s leading Reit hub”. Units of NTT DC Reit closed flat at the offer price of US$1 on Monday.

BRC Asia: The prefabricated steel reinforcement company secured around S$570 million worth of contracts for the Changi Airport Terminal 5 project, where it will supply steel reinforcement for the substructure of the upcoming terminal. The group said on Monday that the new contracts bring its outstanding sales order book to S$2 billion as at Jul 14, and extend its revenue visibility through to 2029. Shares of BRC Asia closed flat at S$3.33 before the announcement.