Stocks to watch: Aims Apac Reit, Keong Hong
THE following companies saw new developments that may affect the trading of their securities on Wednesday (Dec 11):
Aims Apac Reit: The industrial and logistics real estate investment trust (Reit) is divesting its warehouse at 3 Toh Tuck Link for S$24.4 million, representing a 32.5 per cent premium over the property’s valuation as at Mar 31, 2024. Net proceeds may be reinvested to support the Reit’s various growth initiatives, including potential new acquisitions. Units of the Reit closed on Tuesday S$0.01 or 0.8 per cent higher at S$1.26, before the news.
Keong Hong Holdings: Its subsidiary Keong Hong Construction has agreed to sell its 20 per cent stake in developer Katong Holdings for S$34.5 million. On Tuesday, the group said net proceeds from the divestment will be used for working capital requirements and potential business opportunities. Shares of watch-listed Keong Hong Holdings closed flat at S$0.095, after the announcement.
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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.
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