Stocks to watch: Far East Orchard, UltraGreen.ai, iX Biopharma
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Oct 5):
Far East Orchard has surpassed its S$3 billion assets under management (AUM) target, reaching S$3.9 billion, by acquiring a 42% stake in the managers of Far East Hospitality Trust (FEHT) for S$28.3 million. This strategic move brings Far East Orchard's ownership in the managers from 33% to 75%, with the remaining 25% still held by FEO Asset Management, a wholly-owned subsidiary of Far East Organization Centre.
The acquisition also strengthens Far East Orchard’s "FEOR30" business roadmap, accelerating its core AUM growth by 86% and positioning the company for a new core AUM target of "at least $5 billion" by FY2030.
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