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Stocks to watch: Wilmar, Dairy Farm, Hanwell, Tat Seng, Medtecs, Aspen
THE following companies saw new developments that may affect trading of their securities on Thursday:
Wilmar International: The proposed listing of the agri-food giant's China unit, Yihai Kerry Arawana, is expected to raise 13.9 billion yuan (S$2.81 billion) and Singapore's sovereign wealth fund GIC will be coming in as a strategic investor. The mainboard-listed company called for a trading halt on Wednesday, which it lifted on Thursday morning following this announcement. Wilmar shares ended Tuesday at S$4.38, up S$0.03 or 0.7 per cent.
Keppel Corp, DBS: The Singapore blue chips will jointly explore new digital opportunities to meet customers' and suppliers' needs, under a memorandum of understanding unveiled on Wednesday evening. Keppel shares closed at S$4.16, up S$0.04 or 1 per cent before the announcement, while DBS shares ended higher by 1.5 Singapore cents or 0.8 per cent at S$19.89. Separately, Keppel Corp's Kepinvest Singapore has extended KrisEnergy's restructuring deadline to end-November.
GuocoLand: The mainboard-listed developer is selling a building in Shanghai's Guoco Changfeng City in a deal inked on Wednesday. The former Guoson Mall is going to a third-party buyer for 610 million yuan (S$122.8 million) in cash. GuocoLand said it expected a net loss of about S$13.5 million on the back of taxes from the transaction. The counter added S$0.01 or 0.7 per cent to close at S$1.48 on a cum-dividend basis, before the latest announcement.
Hanwell Holdings, Tat Seng Packaging Group: The executive chairman of Hanwell Holdings and Tat Seng Packaging Group was made bankrupt in August, but the two mainboard-listed companies have to date not acted on Allan Yap's directorship, even though the law prohibits a bankrupt from being director, The Business Times (BT) reported on Thursday. Tat Seng shares closed flat at 54.5 Singapore cents on Wednesday, while Hanwell shares added one Singapore cent or 3.6 per cent to 28.5 cents.
Dairy Farm International: Giant Singapore, which is run by mainboard-listed Dairy Farm, is set to slash the prices of some 650 products by about 20 per cent amid the Covid-19 pandemic. Shares of Dairy Farm closed on Wednesday at US$3.95, up US$0.04 or 1 per cent.
Singapore Technologies Engineering (ST Engineering): The mainboard-listed firm has started liquidating a joint-venture company in Saudi Arabia, citing the unit's inactivity. The counter closed up S$0.03 or 0.9 per cent at S$3.41 before the news.
Del Monte Pacific: The mainboard-listed food producer saw sales spike in the first quarter, driven by higher demand amid the Covid-19 pandemic. Meanwhile, net losses narrowed to US$3.25 million for the three months to July 31, from US$38.3 million in the year prior. The counter ended at 13.1 Singapore cents on Wednesday, up 0.8 cent or 6.5 per cent, before the latest results were released.
Fragrance Group: The property player is headed for a change of chief financial officer, as the present occupant of the role is resigning. Fragrance shares closed up 0.1 Singapore cent or 0.9 per cent at 11.5 cents, before the latest announcement.
Medtecs International, Aspen (Group) Holdings: Medical apparel maker Medtecs and soon-to-be glove play Aspen saw both their share prices climb further on Wednesday as heavy volumes changed hands. Medtecs shares closed at S$1.28 on Wednesday, up S$0.10 or 8.5 per cent, while Aspen shares ended at 19.9 Singapore cents, up 1.4 cents or 7.6 per cent.
OCBC: Analysts have said that the lender's shift from its offshore exposure to sustainable finance comes with its own set of challenges, BT wrote on Thursday. OCBC shares closed at S$8.45 on Wednesday, up S$0.04 or 0.5 per cent.