You are here

Stocks to watch: IHC, HMC, Perennial Real Estate, Olam

35083267.5 (36778005) - 23_11_2015 - hxsgx9.jpg

THE following stocks had developments or news that may influence trading on Wednesday:

International Healthway Corporation (IHC) said on Wednesday it has entered into a non-binding term sheet with lenders Oxley Holdings, Ching Chiat Kwong and Low See Ching - pursuant to which the lenders propose to grant to IHC convertible loans at an interest rate of 6 per cent per annum. Under the term sheet, Oxley proposes to make available to IHC a loan facility of up to S$50 million.

Mr Ching and Mr Low, who are directors and controlling shareholders of Oxley, propose to make available to IHC a loan facility of up to S$5 million.

The loan is subject to shareholders' approval at an extraordinary general meeting to be convened.

sentifi.com

Market voices on:

Healthway Medical Corporation (HMC) has called for a trading halt of its shares before Wednesday's market open, citing "pending release of announcement". On Tuesday, HMC announced that it has received a takeover offer from Gentle Care, a Lippo-linked entity, that values the company at S$103 million.

Perennial Real Estate Holdings on Wednesday posted a nearly 38 per cent fall in net profit for its fourth quarter ended Dec 31, 2016, to S$25.56 million, down from S$41.1 million a year ago.

Revenue also fell some 24 per cent to S$21.5 million, compared with the S$28.4 million registered in the same period last year.

Perennial said that the decrease was due mainly to lower rental revenue from TripleOne Somerset, as expiring leases were not renewed due to asset enhancement works which have commenced since Q2.

Olam International said on Wednesday it plans to repurchase up to S$235.8 million in securities for cash in the open market. The repurchase price is 100 per cent of its principal amount, together with distributions accrued to (but excluding) March 10.

Separately, Olam added it plans to exercise its option to redeem all of the outstanding securities (which have not been previously purchased and cancelled) on Sept 1, at 100 per cent of their principal amount, together with distributions accrued to (but excluding) the date fixed for redemption.

Powered by GET.comGetCom