Stocks to watch: CapitaLand Investment, CapitaLand Ascott Trust, Singapore Paincare

The following companies saw new developments that may affect trading of their securities on Thursday (Aug 28):

CapitaLand Investment (CLI): Its subsidiary CapitaLand Commercial C-Reit (CLCR) received approval from the China Securities Regulatory Commission on Wednesday to register for its listing on the Shanghai Stock Exchange. CapitaMall SKY+ in Guangzhou and CapitaMall Yuhuating in Changsha will make up the initial portfolio, with CLCR set to become China’s first international-sponsored retail China real estate investment trust. The counter closed 0.4 per cent or S$0.01 lower at S$2.75 on Wednesday.

CapitaLand Ascott Trust (Clas): The lodging trust acquired three rental housing properties in Japan for a total of 4 billion yen (S$34.2 million), said managers of the real estate investment trust on Wednesday. The deal covers three properties: Splendide Namba West and Pregio Esaka South in Osaka, and Pre de Cort Nishikyogoku in Kyoto. The freehold properties are also expected to contribute to Clas’ distributable income “immediately”. Stapled securities of Clas ended on Wednesday 0.6 per cent or S$0.005 lower at S$0.875.

Singapore Paincare: The Catalist-listed medical services company requested its trading halt to be lifted after it called for an upcoming scheme meeting to be postponed. Shareholders were set to vote on a privatisation offer via a scheme of arrangement on Thursday. The company had also sent two WhatsApp messages to shareholders ahead of the meeting, which Securities Investors Association (Singapore) said was a breach of rule 8.6 of the code on takeovers and mergers. Its shares last traded on Tuesday at S$0.158.

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