[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Apr 11).
Sats: Terminal operator Sats-Creuers Cruise Services (SCCS), a 60:40 joint venture between Sats and European cruise operator Creuers del Port de Barcelona, is refurbishing Marina Bay Cruise Centre Singapore (MBCCS). The S$40 million upgrading works, which began in the first quarter of the year, will raise the centre’s handling capacity, update amenities and provide new facilities. The ground handler on Friday added that SCCS’ operator agreement for MBCCS has been extended for eight years, with the option to extend for another two years, potentially up to March 2037. Creuers is a unit of international cruise-port operator Global Ports Holding. Sats shares closed on Thursday 7.7 per cent or S$0.19 higher at S$2.65.
CapitaLand Investment (CLI): Its lodging business Ascott has inked three agreements to add 600 units to its India portfolio, a move that will grow its total portfolio in the country to around 6,100 units across 22 properties. The new units will be located in the cities of Lucknow and Thanjavur, and the state of Goa. Ascott plans to increase its India portfolio to some 12,000 units by 2028, more than double the roughly 5,500 units in its portfolio as at the end of 2024. The expansion plans come on the back of favourable growth prospects in the Indian hospitality market, said Ascott on Thursday. Shares of CapitaLand Investment closed 4.2 per cent or S$0.10 higher at S$2.50 on Thursday.
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