Stocks to watch: Suntec Reit, ESR Reit, Sabana Industrial Reit, Acrophyte Hospitality Trust, Fu Yu
Suntec Reit ; ESR Reit ; Sabana Industrial Reit ; Acrophyte Hospitality Trust : ESR Group, which is the sponsor of Suntec Reit, ESR Logos Reit, Sabana Industrial Reit and Acrophyte Hospitality Trust, is expected to delist from the Hong Kong Stock Exchange on Jul 3 as its shareholders on Friday approved a scheme resolution to privatise it. The real estate fund manager received a privatisation proposal from a consortium of investors comprising Starwood Capital Operations, Sixth Street Partners, and SSW Partners in April 2024. Units of Suntec Reit ended Friday unchanged at S$1.14; units of ESR Reit ended Friday down 1.3 per cent or S$0.03 at S$2.31; units of Sabana Industrial Reit declined 2.5 per cent or S$0.01 to S$0.39 on Friday while units of Acrophyte Hospitality Trust ended Friday up 1.7 per cent or US$0.005 at US$0.295.
Fu Yu : The components manufacturer announced on Sunday that all its independent directors had resigned, including Royston Tan and Christopher Huang, who is also the non-executive chairman. This comes amid attempts by Fu Yu's largest shareholder Victor Lim to oust Tan and Huang from the board. Independent director Daniel Poh also resigned over differences in opinion on the company's direction on matters not involving the day-to-day business of the company, which Tan and Huang also cited as a reason for resignation. All three quoting the investigations into Fu Yu Supply Chain Solutions as an example. Shares of Fu Yu closed down S$0.001 or 1 per cent at S$0.096 on Friday.
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