[SINGAPORE] The following companies saw new developments that may affect trading of its securities on Friday (Apr 4).
Far East Orchard: The developer announced on Thursday that it will be acquiring a purpose-built student accommodation (PBSA) site in Manchester in the UK, for £10.9 million (S$19.2 million). The 275-year leasehold site is expected to be completed in 2028, and will be developed into a 239-bed PBSA property. This move marks the group’s maiden entry into the city of Manchester, and brings its portfolio of existing and pipeline PBSA assets to over 4,900 beds. Shares of Far East Orchard closed 1 per cent or S$0.01 lower at S$1.03, before the announcement.
BYD HK SDR: The Chinese automotive company plans to increase its sales network in South Korea as it pushes for more deliveries outside China, reported Bloomberg. “We will increase our sales network to 30 by end of this year from 15 to meet demand from Korean consumers,” Liu Xueliang, the general manager of BYD’s Asia-Pacific auto sales division, said at the Seoul Mobility Show in Ilsan city on Thursday. BYD has set a goal of selling around 5.5 million vehicles this year. The BYD Singapore Depository Receipt on the Singapore Exchange closed on Thursday 1.4 per cent or S$0.09 lower at S$6.49.
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