Stocks to watch: UOB, Lendlease Reit, IHH Healthcare, Cordlife

The following companies saw new developments that may affect trading of their securities on Thursday (Nov 27):

UOB: A High Court judge on Wednesday upheld his decision to award UOB S$17.7 million in the Lippo Marina Collection lawsuit. The damages were for losses the bank incurred as a result of disbursing inflated housing loans to buyers who bought units at Marina Collection. The bank had sought for S$92 million in damages, but Justice Aidan Xu said it “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 announcement.

Lendlease Reit: The manager of the real estate investment trust (Reit) on Thursday said it completed the S$234.3 million purchase of 70 per cent of the units in PLQM Trust, which owns 100 per cent of PLQ Mall. The vendor was understood to be sovereign wealth fund Abu Dhabi Investment Authority. About S$280 million was raised from a private placement of units, of which S$234.5 million was used to fund the acquisition. Units of the Reit closed 0.8 per cent or S$0.005 down at S$0.615 on Wednesday.

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