Stocks to watch: Boustead, Sembcorp, OUE Lippo Healthcare, ART, Q&M

THE following companies saw new developments that may affect trading of their securities on Monday:

Boustead Projects: The mainboard-listed real estate player on Monday said it has obtained a green loan of about S$130 million from UOB to refinance ALICE@Mediapolis, an eco-sustainable business park development. Shares of Boustead Projects closed at S$1.06 on Friday, down S$0.02 or 1.9 per cent.

Sembcorp Industries: The mainboard-listed conglomerate has appointed former chief executive officer of CapitaLand Lim Ming Yan as a new independent director, effective from Monday. This comes after Sembcorp Industries said last Friday that its chief financial officer Graham Cockroft is quitting after two years to return to New Zealand. It is "working on bringing in Mr Cockroft's successor", to be announced in due course. Sembcorp shares shed S$0.01 or 0.6 per cent to close at S$1.82 on Friday, before the release of both announcements.

OUE Lippo Healthcare: The Catalist-listed company warned it expects a "significant loss" in its half-year and full-year results. In a Friday after-market filing, its board noted "material repercussions" owing to the current pandemic situation, and the fact that OUE Lippo operates businesses and owns assets and has investments across several countries. The counter closed Friday at 3.5 Singapore cents, up 0.1 cent or 3 per cent, before the profit guidance was published.

Ascott Residence Trust (ART): Managers of the stapled hospitality group warned they expect to cut distribution per stapled security (DPS) by between 60 per cent and 70 per cent in FY2020. Based on a preliminary review of its financial statements for the year to Dec 31, 2020, which are due to be released on Jan 27, distributable income could drop by 40-50 per cent year on year after taking into account realised exchange gains and partial distribution of divestment gains. Stapled securities of ART closed at S$1.13 on Friday, up S$0.01 or 0.9 per cent, before the news.

Q&M Dental Group: The dental clinic operator is selling off its remaining stake in a Chinese dental equipment maker for 122.46 million yuan (S$25.1 million). It expects to net about S$17 million in proceeds from the deal, which its board said will go towards working capital needs, business expansion, and a potential special dividend. Q&M shares closed flat at 47.5 Singapore cents on Friday, before the announcement.

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GL Limited: Shares of the mainboard-listed hotel operator hit a 10-month high on Friday, following news of a proposed privatisation which the company said will provide greater management flexibility to help GL "navigate challenging and unprecedented operating environment" driven by Covid-19, Brexit and low oil and gas prices. The counter closed 25 per cent or S$0.14 higher at S$0.70 on Friday, matching Guoco Group's offer price.

iFast Corp: Shares of the wealth management platform surged on Friday, triggering another query from the Singapore Exchange (SGX) over the "unusual price movements". In its response on Friday afternoon, iFast said it had participated in the bidding of projects, including "certain ones in Hong Kong". The firm also cited news and two recently issued research reports as possible explanations for the trading activity. iFast shares ended S$0.29 or 6.8 per cent higher at S$4.57 on Friday.

Vallianz Holdings: After taking more than a week to disclose the sale of its subsidiary, the offshore vessel company on Friday explained it was corresponding with its listing sponsor. Vallianz sold a wholly-owned unit for a nominal US$1 on Dec 31, 2020, but filed the announcement on the bourse only on Jan 11, 2021, prompting queries from the SGX. Vallianz shares closed flat at 5.1 Singapore cents on Friday, before the latest announcement.

Trading halt: Sunningdale Tech on Monday called for a trading halt prior to the market open, pending the release of an announcement. The precision plastic components maker is in the throes of a private equity buyout which drew criticism from activist investor Quarz Capital Management.