Stocks to watch: Olam, SingPost, Sheng Siong

THE following stocks had developments over the weekend or on Monday morning that might influence trading.

Olam: The commodities group will invest US$150 million to set up animal feed mills, poultry breeding farms and a hatchery to produce day-old chicks in Nigeria, it said on Friday after market close.

Singapore Post: More top-level upheaval rocked the board of the postal and e-commerce group on Friday evening. Its nominations committee chairman Keith Tay Ah Kee stepped down from that role with effect from Friday, and will not stand for re-election as a director at its annual general meeting in July.

Sheng Siong: The supermarket operator Sheng Siong Group has exercised an option to purchase the first and second storeys of a four-storey Housing Board commercial property in New Upper Changi Road for about S$53 million, it said on Friday after market close.