Stock to watch: SingPost

[SINGAPORE] The following company saw new developments that may affect trading of its securities on Friday (Jun 20): 

Singapore Post (SingPost): The national postal service provider has placed 10 Housing and Development Board shophouses for sale and leaseback. This is part of its plan to divest non-core assets and unlock shareholder value while maintaining current post office services, with the post office network having been unprofitable in recent years. Sales of the properties are expected to fetch S$50 million in total. SingPost shares closed 0.9 per cent or S$0.005 up at S$0.57 on Thursday.