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The Singapore Stock Market Today: CapitaLand Commercial Trust to Gobble Up Marina Bay’s Asia Square Tower 2

Hello, Fools! Here are three things about the local stock market that might interest you today.

1. The Straits Times Index (SGX: ^STI), finished Thursday at 3,213.82 points, slipping 4.25 points or 0.13%.

The biggest loser in the index was Jardine Matheson Holdings Limited (SGX: J36) as it tumbled 2.4% to US$63.65.

Meanwhile, Singapore Press Holdings Limited’s (SGX: T39) shares gained the most, surging 3% to end the day at S$2.71.

2. CapitaLand Commercial Trust (SGX: C61U) is buying Asia Square Tower 2 located at Marina Bay from BlackRock Asia Property Fund III L.P. for S$2.09 billion or S$2,689 per square foot.

The acquisition will be paid for via a combination of rights issue, external bank borrowings, and proceeds from the divestments of One George Street (50% stake), Golden Shoe Car Park and Wilkie Edge.

For more information, you can check out the press release here.

Units of the trust, which were under trading halt today, ended Wednesday at S$1.695.

3. Crane rental provider, Tat Hong Holdings Limited (SGX: T03), saw its shares rise 5.2% to S$0.405 before they were halted from trading at around 3.00 pm today.

The firm made an announcement soon after, in which it said that it “has been approached by certain parties in connection with a potential transaction in relation to the securities of the Company”.

It added that the “discussions are ongoing and there is no certainty or assurance whatsoever that any transaction will arise from these discussions”.

It has appointed Rippledot Capital Advisers Pte Ltd as its financial adviser in connection with the approaches.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P owns units in CapitaLand Commercial Trust.