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Stocks to watch: Jason, Sino Construction, GLP, SPH
THE following companies made announcements after markets closed on Tuesday that may affect trading on Wednesday:
Jason Holdings' CEO has pledged shares amounting to a 15.75 per cent stake in the company to four other parties, as collateral for various loans. The timber flooring service provider, which suspended trading of its shares on Friday morning after a query by the Singapore Exchange, will resume trading on Wednesday.
A subsidiary of Sino Construction has received approval to start operations at its micro power plants in Korea, which would have a positive impact on the earnings of the struggling firm in the current financial year. The group has completed construction of its first micro power plant, and a second is expected to be finished by end July.
Global Logistics Properties (GLP) is leasing facilities totalling 146,000 sq m to six third-party logistics providers in China, five of whom are repeat customers. All of them cater to domestic consumption across industries ranging from e-commerce to car parts, GLP said in an announcement on Tuesday.
A wholly-owned subsidiary of Singapore Press Holdings (SPH) has bought another 40 per cent stake in Beerfest Asia from Timbre group for S$580,000 in cash. This brings the group's interest in Beerfest to 80 per cent, with the remaining stake held by individuals. The acquisition is not expected to have any material impact on the company's results in the current financial year, SPH said.