THE following companies saw new developments that may affect trading of their securities on Monday (Nov 25):
City Developments Limited (CDL): The property giant and its joint venture associates posted S$611.1 million in sales for the third quarter ended Sep 30, 2024, with 321 units sold, up from S$325 million and 183 units sold in the corresponding period last year. Its higher sales came on the back of the launch of its 276-unit freehold development Kassia in Upper Changi Road North, CDL said in a bourse filing on Friday. The counter closed 0.4 per cent or S$0.02 higher at S$5.14, before the announcement.
Paragon Reit: The real estate investment trust’s (Reit) manager has entered into an agreement to sell its stake in Australian shopping centre Figtree Grove for A$192 million (S$168 million) to an unnamed buyer. Net proceeds from the sale will go to debt repayment and working capital requirements among other uses, the Reit’s manager said on Friday. This comes as Paragon Reit has been selling down assets, including The Rail Mall along Upper Bukit Timah Road which it sold in August. Units of Paragon Reit closed 0.6 per cent or S$0.005 lower at S$0.865, before the announcement.
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