Stocks to watch: Singapore Airlines, MCT, Singapore Press Holdings, SPH Reit, UOB

THE following companies saw new developments that may affect trading of their securities on Friday:

Singapore Airlines (SIA): The flag carrier on Thursday night proposed a massive cash call comprising a 3-for-2 rights issue of shares and a convertible bond issue to raise a combined S$8.8 billion - fully underwritten by Temasek. The airline's shares traded at S$6.50 on Wednesday before it requested a halt on Thursday morning. SIA lifted the halt on Friday morning.

Mapletree Commercial Trust (MCT): MCT is committing an additional S$18 million of rental relief to cushion the impact of Covid-19 on its retail tenants, it said in a statement on Thursday. Tenants will also be offered a deferment of payment for the fixed rent for April 2020 "to further ease their cash flow". Units of MCT fell S$0.09 or 4.8 per cent to S$1.80 at Thursday's close, before the announcement.

Singapore Press Holdings (SPH), SPH Reit: Media and property group SPH announced on Thursday that its board members will take a voluntary 10 per cent reduction in directors' fees, while the salary of those in senior management will be cut. SPH is also the sponsor of SPH Reit, which has likewise introduced pay cuts for its chief executive officer and senior staff, and promised to fully pass on its property tax rebate to tenants. Shares of SPH closed at S$1.81 on Thursday, up 4 per cent or S$0.07. Shares of SPH Reit fell S$0.03 or 3.8 per cent to S$0.77.

United Overseas Bank (UOB): The lender said on Thursday that one of its employees has tested positive for Covid-19. He is a "non-customer facing" employee, and is now under medical care, UOB said. The counter was trading at S$20.27 as at 9.01am on Friday, up S$0.54 or 2.7 per cent.

IHH Healthcare: The mainboard-listed hospital operator's external auditor, KPMG PLT, has issued a qualified opinion in respect of IHH Healthcare's audited financial statements for the fiscal year ended Dec 31, 2019. Shares of IHH closed flat at S$1.69 on Thursday, before the announcement.

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ESR-Reit, IReit Global: Chinese tycoon Tong Jinquan sold nearly S$14 million worth of units in both real estate investment trusts (Reits) over the past fortnight, amid a broad Reit sector sell-off. Bourse filings show him paring his stake in ESR-Reit from 30.74 per cent to 29.73 per cent, and reducing his stake in IReit Global from 34.4 per cent to 32.89 per cent. On Thursday, units of EST-Reit closed at S$0.31, down 4.6 per cent or S$0.015, while IReit Global rose 0.5 Singapore cents or 1 per cent to 49.5 cents.

Chip Eng Seng Corporation: The real estate group's subsidiary has won a S$433 million Public Utilities Board contract for building works at the Tuas Water Reclamation Plant. Construction is expected to be completed by 2025. The counter finished trading at 47.5 Singapore cents on Thursday, down 1 cent or 2 per cent, before the announcement.

Geo Energy Resources: The mainboard-listed coal miner said on Thursday evening that it may terminate the acquisition of PT Titan Global Energy if terms are not met by March 31, 2020. Geo Energy also announced it has repurchased US$111.9 million in principal amount of the 8 per cent senior notes issued by its wholly owned unit, Geo Coal International. Geo Energy shares fell 0.1 Singapore cents or 1.2 per cent to 8 cents at Thursday's close.