[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Aug 20):
CapitaLand Investment (CLI): The global real asset manager said on Tuesday that it will provide retail advisory services to Malaysian property developer Astaka for a new mixed-use project in Johor worth RM1.2 billion (S$364.5 million) in gross development value. Astaka chief executive Allen Khong said the project comprising a new lifestyle mall and a five-star hotel will be a key beneficiary of cross-border travel and retail activity thanks to the Johor-Singapore Special Economic Zone. The counter closed 1.1 per cent or S$0.03 up at S$2.70 on Tuesday.
CapitaLand Ascendas Reit: The real estate investment trust on Wednesday announced the completion of the acquisition of two plots of freehold land in the UK, as previously planned. The plots are in Manton Wood and Towcester sites in the East Midlands, on which four new logistics properties are planned to be developed. The counter closed 0.8 per cent or S$0.02 up at S$2.70 on Tuesday.
iFast: Shares of iFast on Tuesday had their biggest drop since April after Temasek-linked CP Invest offloaded about 14.4 million shares at a 6.7 per cent discount to the previous day’s closing price. CGS International analyst Tay Wee Kuang said investors are likely taking this as a sign that iFast is “fairly valued” at S$9.77. The counter closed 8.5 per cent or S$0.83 down at S$8.94 on Tuesday.
Lum Chang Creations (LCC): It is expected to report a “significant improvement” in its profit before tax for its full year ended Jun 30, 2025, according to its profit guidance released on Tuesday. This is due to higher revenue from the improved progress of ongoing projects and the start of new projects undertaken in financial year 2025, compared with FY2024. LCC is expected to report its earnings on or before Aug 29. The counter closed on Tuesday S$0.03 or 7.2 per cent higher at S$0.445.
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