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Stocks to watch: Top Glove, SGX, Sunpower, Mermaid Maritime, SLB Development
THE following companies saw new developments that may affect trading of their shares on Friday:
Top Glove Corporation: The glove maker on Thursday said it is in talks with bankers on plans to list in Hong Kong within six to nine months, after "supernormal" demand for disposable gloves during the Covid-19 pandemic saw its quarterly profit skyrocket to a company record. It had reported a Q4 FY20 net profit of RM1.29 billion (S$423.8 million), about 17 times higher than its net profit for the year-ago period. Shares of Top Glove ended Thursday at S$2.63, down S$0.37 or 12.3 per cent after the announcement.
Singapore Exchange (SGX): The bourse operator announced the listing of the world's largest Chinese pure government bond exchange-traded fund (ETF) to meet growing investor demand to access China's bond markets. SGX shares ended Thursday at S$8.59, up S$0.01 or 0.1 per cent before the announcement.
Sunpower Group: The mainboard-listed environmental protection solutions provider has secured a manufacturing and services tender worth more than 150 million yuan (S$30.1 million) from energy and chemicals group Sinopec, a repeat customer, it said late on Thursday. The counter finished the day at 53.5 Singapore cents, down 0.5 cent or 0.9 per cent.
Mermaid Maritime Public Co: A wholly-owned subsidiary of the Thailand-based oil service specialist will invest 77.5 million baht (S$3.4 million) for a 50 per cent stake in a joint venture that will develop robotics and artificial intelligence technology to provide commercial subsea engineering services. Shares of the mainboard-listed company finished at 6.1 Singapore cents on Thursday, down 0.1 cent or 1.6 per cent before the announcement.
SLB Development: The Catalist-listed property developer on Thursday said it has entered into a sale and purchase agreement with Thye Hong Manufacturing for the acquisition of Thye Hong Centre at 2 Leng Kee Road, a freehold six-storey industrial building for S$112.5 million, exclusive of goods and services tax. The counter closed flat on Thursday at 11.5 Singapore cents before the announcement.
Figtree Holdings: A wholly-owned subsidiary, Figtree Real Estate will be acquiring a 27.5 per cent interest in DC Alliance for A$2.75 million (about S$2.7 million) in cash, making this its first strategic investment in a data centre. Shares of the Catalist-listed company ended flat on Thursday at eight Singapore cents before the announcement.