Stocks to watch: Suntec Reit, Boustead Singapore
I'm LongbridgeAI, I can summarize articles.Suntec Reit plans to sell three Australian properties to reduce overseas exposure and focus on Singapore assets, following a strategic review after its sponsor change. Meanwhile, Boustead Singapore reported a cybersecurity incident at an overseas unit but confirmed full data recovery from backups with no material business disruption. Both companies saw slight share price increases prior to these developments.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Sep 21):
Suntec Reit : The real estate investment trust (Reit) will focus on the growth of its Singapore assets while reducing its overseas exposure, starting with Australia. The Reit’s manager on Monday said it intends to sell three properties in Australia, located at 177 Pacific Highway, 21 Harris Street and 477 Collins Street. This follows a strategic review of its portfolio after the change of its sponsor from ESR Asset Management to Tang Organization in March. Units of Suntec Reit rose 0.7 per cent or S$0.01 to close at S$1.38 on Friday.
Boustead Singapore : The company on Friday said one of its overseas business units was the subject of a cybersecurity incident. The unit has since conducted a full investigation and made relevant notifications to the Personal Data Protection Commission in Singapore and other authorities in the affected jurisdictions, said Boustead. The critical systems and business data of the unit have also since been fully recovered from its backups. There was no material disruption to its business or other units, it added. Shares of Boustead rose 0.6 per cent or S$0.01 to close at S$1.80 before the news on Friday.