The following companies saw new developments that may affect trading of their securities on Tuesday (Mar 28):

SEMBCORP Industries and two companies it had partnered have terminated a joint-development agreement (JDA) to build a large-scale integrated solar and energy storage project in Indonesia.

All parties have mutually agreed to end the JDA, and the consortium has been dissolved, Sembcorp disclosed in a Monday (Mar 27) bourse filing.

The voluntary unconditional cash offer for real estate player Boustead Projects closed on Monday (Mar 27), with its offeror and parent company Boustead Singapore garnering 95.5 per cent in shareholding interest.

As at 5.30pm on Monday, the total number of shares owned, controlled or agreed to be acquired by Boustead Singapore and its concert parties, as well as valid acceptances of the offer, stood at 299.2 million shares, or 95.5 per cent of the total number of shares.

None of the lenders of Manulife US Reit is a regional bank in the United States, its manager said in a Monday (Mar 27) bourse filing. This disclosure came after units of the real estate investment trust (Reit) tumbled 14 per cent, or US$0.035, on Monday to close at US$0.215.

Its manager, Manulife US Real Estate Management, had received “multiple queries” on Monday following news of US regional banks’ troubles and investor sentiment on US-based real estate funds, it said. The Reit’s lenders are mainly Singapore and international banks.

An Independent financial adviser (IFA) appointed by GK Goh on Tuesday (Mar 28) recommended shareholders accept theofferby GK Goh’s founder and chairman to take the company private at S$1.26 per share, on grounds that it is “fair and reasonable”.

Deloitte & Touche Corporate Finance, which was the IFA appointed, said it arrived at the decision after taking into account market quotations and liquidity of GK Goh’s shares, historical market performance as well as an assessment of the company’s financials.

It noted that the offer price of S$1.26 is above the company’s highest traded share price of S$1.230 in the five-year period prior to the last trading day.