The Business Times

Stocks to watch: AVJennings, LMIRT, Mapletree Greater China, OSV owners

Published Tue, Jun 16, 2015 · 01:02 AM

THE following stocks had announcements that could affect trading activity on Tuesday:

AVJennings (AVJ): It has acquired the right to develop a land parcel at Warnervale on the New South Wales Central Coast, which will produce around 540 lots. The transaction follows recent announcements of the Wollert joint venture in Victoria with AustralianSuper (around 2,000 lots) and the Waterline acquisition in Williamstown, Victoria (up to 850 apartments and town homes).

Lippo Malls Indonesia Retail Trust (LMIRT): It has raised S$75 million through the issuance of five-year bonds with a coupon of 4.1 per cent, a term sheet seen by The Business Times showed on Monday. Orders were in excess of S$100 million.

Mapletree Greater China Commercial Trust (MGCCT): It has acquired Sandhill Plaza in Shanghai for about S$402 million from MSREF VII Leaphart BV. The purchase consideration is some 1.89 billion yuan (S$412.2 million) if working capital adjustments attributable to entities being acquired in the transaction are included.

Offshore support vessels (OSVs) owners Otto Marine, Swiber and Marco Polo Marine: These smaller offshore and marine (O&M) firms with high debt levels could make more cash calls as their funds dry up amid a crude oil slump and persistent oversupply of OSVs, said brokerage KGI Fraser in a report on Monday.

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