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Stocks to watch: New Silkroutes Group, SPH, Bukit Sembawang Estates
New Silkroutes Group: Mainboard-listed New Silkroutes Group (NSG) on Monday said that it will acquire majority control of eight dental clinics and two dental equipment suppliers in Singapore for S$5.28 million.
This will pave the way for the group to expand the capabilities of its recently installed healthcare subsidiary, Healthsciences International Pte Ltd, which NSG acquired in December last year.
Singapore Press Holdings: Former Neptune Orient Lines (NOL) chief executive Ng Yat Chung will replace Alan Chan as CEO of Singapore Press Holdings (SPH) on Sept 1, 2017, the media and property group announced on Friday after the market closed.
Mr Chan, 64, is retiring after 15 years at the company to allow for renewal of the company's management and board, said SPH, which owns The Business Times. He will also resign as executive director.
Bukit Sembawang Estates: The property developer on Friday marked a 67.2 per cent drop in net profit for the fourth quarter ended March 31 to S$2.26 million, due mainly to higher other operating expenses and tax expense.
Other operating expenses jumped 151.5 per cent from a year ago to S$6.59 million, mainly due to additional allowance for foreseeable losses on development properties of S$5.8 million for Paterson Collection.