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Stocks to watch: Hyflux, Procurri, Charisma Energy, Acesian Partners, Sino Grandness
THE following companies saw new developments that may affect trading of their shares on Thursday:
Hyflux: Water treatment firm Hyflux said on Monday that it has received an additional month from secured lender Maybank to divest the Tuaspring integrated water and power plant. Maybank is now giving Hyflux until Feb 28, 2019, to execute a binding agreement with a successful bidder or investor, an extension of the Oct 29, 2018, deadline earlier agreed upon. Maybank reserves the right to terminate the collaboration agreement if the new deadline is breached. Shares in Hyflux closed at S$0.21 on May 18, 2018. The counter last traded at S$0.22 on May 17, 2018.
Procurri Corporation: Enterprise hardware supplier Procurri Corporation on Thursday said that it had on Feb 4, 2019, received a second unsolicited, non-binding expression of interest from a third party to acquire the company through a possible voluntary general offer. This is subject to due diligence being conducted. Procurri added that to the best of its knowledge, the second offeror is not in any way related to the proposed acquisition via a scheme announced on Feb 3, 2019 by New State Capital Partners LLC. Shares in Procurri Corporation closed at S$0.31 on Monday, down 0.5 Singapore cent.
Charisma Energy: Catalist-listed Charisma Energy Services on Thursday requested a suspension in the trading of its shares "with immediate effect". This followed its disclosure on Monday that the company is currently in discussions with certain stakeholders such as bank lenders and creditors in relation to its financing and capitalisation structure. The company is also taking steps to review its options to strengthen its financial position and preserve value for its stakeholders. Shares in Charisma Energy closed at S$0.002 on Monday, with no changes to the previous closing.
Acesian Partners: Catalist-listed Acesian Partners on Thursday said it has on Feb 1, 2019, signed a non-binding memorandum of understanding with Metro Transit Solutions Pte Ltd to dispose its entire equity interest in its wholly owned subsidiary, Acesian Sun Pte Ltd. There was no consideration disclosed. Shares in Acesian Partners closed at S$0.011 apiece on January 14, 2019. The counter last traded at S$0.011 on January 8.
Sino Grandness: Chinese canned vegetable and fruits producer Sino Grandness Food Industry Group said it is still in negotiation with creditor and shareholder Soleado Holdings to extend the repayment of some US$22 million. In a Singapore Exchange filing on Thursday morning, the company said it is currently preparing to repatriate funds from China by way of dividend, a move which it said requires Chinese regulatory approval. Shares of Sino Grandness closed on Monday at S$0.052, down 0.3 Singapore cents.