UPDATE: Singapore stocks to watch Wednesday: OUE C-REIT, Cache Logistics, FLT, BreadTalk, Sasseur REIT

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These are Singapore companies which may be in focus on Wednesday, 4 September 2019: Cache Logistics Trust, Frasers Logistics & Industrial Trust, BreadTalk, TEE International, Eagle Hospitality Trust, Dasin Retail Trust, Sasseur REIT and MindChamps PreSchool.

This article was originally published on Wednesday, 4 September 2019 at 12:01 A.M. SGT; it has since been updated to include OUE Commercial REIT and OUE Hospitality Trust and to update the item on Dasin Retail Trust.

OUE Commercial REIT and OUE Hospitality Trust

The merger of OUE Commercial REIT and OUE Hospitality Trust took effect Wednesday, creating a larger, more diversified Singapore REIT with assets of around S$6.9 billion, the two REITs said Wednesday.

Read more: Merger of OUE Commercial REIT and OUE Hospitality Trust takes effect

Cache Logistics Trust

Cache Logistics Trust obtained a Singapore-based global technology, defence and engineering company as a major new tenant for its Commodity Hub property, the REIT said in a filing to SGX Tuesday.

Read more: Cache Logistics Trust lands major tenant for Commodity Hub property

Frasers Logistics & Industrial Trust

Frasers Logistics & Industrial Trust said Tuesday it has completed the acquisition of 94.9 percent stakes in two Dutch companies which hold the Hermes Augsburg and Kentner facilities in Germany for 29.8 million euros, or around S$45.9 million.

The purchase was fully funded by debt, the trust said in a filing to SGX.

Read more: Frasers Logistics Trust to acquire 12 properties from Frasers Property for A$645 million

BreadTalk

BreadTalk said Tuesday it has applied to SGX for a waiver from seeking shareholder approval for its proposed acquisition of food court operator Food Junction Management.

“The proposed acquisition is to be regarded as being in the ordinary course of the group’s business and will only result in an expansion of the group’s existing core business,” BreadTalk said in a filing to SGX.

Read more: BreadTalk enters deal to acquire food court operator Food Junction for S$80 million

September Supporter Pledge Drive

Sasseur REIT

Sasseur Asset Management, the manager of Sasseur REIT, said Tuesday it changed the designation of Chew Hian Chin Ken to chief operating officer from chief investment officer, effective 1 September.

Chew will remain in charge of investments and asset management for the REIT, and will undertake additional duties as the chief operating officer, the REIT said in a filing to SGX.

Read more about Sasseur REIT.

TEE International

TEE International requested a trading halt Tuesday, pending the release of an announcement.

Read more about TEE International.

MindChamps PreSchool

Bank of America Corp. and Merrill Lynch International ceased to be substantial shareholders of MindChamps PreSchool, with their deemed interests falling to 4.99 percent, before the 5 percent threshold, from 5.004 percent previously, Merrill Lynch (Asia Pacific) said in a filing to SGX Tuesday.

That was after the disposition of 33,300 shares as part of the international prime brokerage business, the filing said.

Read more about MindChamps PreSchool.

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Eagle Hospitality Trust

Wealthy Fountain, a substantial shareholder of Eagle Hospitality Trust, disposed of 3 million units of the trust for US$2.04 million in an off-market transaction on 30 August, Tong Jinquan, who wholly owns Wealthy Fountain via Shanghai Summit, said in a filing to SGX Tuesday.

In addition, on 30 August, Wealthy Fountain sold 2 million units of Eagle Hospitality Trust for US$1.35 million in a market transaction, the filing said.

As a result of the two transactions, Wealthy Fountain’s direct interest in Eagle Hospitality Trust fell to 6.58 percent from 7.16 percent, the filing said.

Read more about Eagle Hospitality Trust.

Dasin Retail Trust

Dasin Retail Trust said Tuesday its private placement of 82.35 million new units at S$0.836 each was around 1.2 times subscribed, and was “well-supported” by both new and existing unitholders.

The issue price was a discount of 2.4 percent to the volume weighted average price of S$0.8563 for trades on Monday, Dasin Retail Trust said in a filing to SGX.

The gross proceeds of around S$68.8 million will be used to fund the purchase of the Doumen Metro Mall in China’s Guangdong Province, the trust said.

The new units are expected to begin trading on 12 September, the filing said. On Wednesday, the trust requested the trading halt on its shares be lifted.

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