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Stocks to watch: GS Holdings, Keppel Reit, YuuZoo, ISEC
STOCKS to watch on Monday include new market debutante GS Holdings, which will start trading on the Catalist on Monday.
Some 24 million GS Holdings shares were placed out at S$0.25 each. GS Holdings is an established centralised commercial dishware washing company providing end-to-end cleaning services for Singapore's food and beverage industry with an estimated market share of 40 per cent. It is one of the three appointed service providers of SPRING Singapore for the centralising or outsourcing of dishwashing facilities to F&B enterprises. Diversified customer base includes F&B tenants located in shopping malls - such as Big Box, IMM, The Star Vista and Westgate - food courts, coffee shops, restaurants, hawker centres and a public tertiary hospital.
Other stocks that may have immediate trading catalysts arising from corporate developments or are slated to announce their corporate results are as follows.
Keppel Reit, which is slated to announce its financial results for fourth quarter ended Dec 31, said on Sunday that will be divesting its stake in a Sydney building for A$160 million (S$160 million). The sale of its 100 per cent interest in 77 King Street to ARE Noble, a wholly owned subsidiary of Invesco Asia Core Fund, will result in a divestment gain of about A$28 million, it said.
YuuZoo Corporation said that it has acquired 30 per cent of Infocomm Asia Holdings Pte Ltd (IAH), a leading distributor of online and box games in South-east Asia, for S$2.39 million. The payment to IAH shareholders will be done by the issuance of 15 million new YuuZoo shares, representing 2.3 per cent of YuuZoo's issued shares. Under the now signed agreement, all the game business will be transacted through YuuZoo's e-commerce platform, adding to both YuuZoo's topline and bottomline.
ISEC Healthcare Ltd allowed a non-binding pact with a Vietnamese company to lapse and has entered into a memorandum of understanding (MOU) with another Vietnamese partner. The eye specialist group said on Monday that it has on Jan 16 inked a non-binding MOU with Hai Yen Anh Tran Company Limited and Tran Hai Yen to form a joint venture company. It is intended that ISEC will hold an effective 51 per cent stake in the JV while Hai Yen Group will hold the remaining 49 per cent.