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Stocks to watch: OSIM, Aspial, iFAST
THE following stocks had recent developments or announcements that may influence trading on Tuesday.
OSIM International: Shares of lifestyle products group OSIM International went up two cents to S$1.39 on Monday to match a raised offer but an apparent blunder in founder Ron Sim's takeover bid process has left a bad taste in some investors' mouths. Mr Sim's banker, Credit Suisse, admitted on Monday that it had "inadvertently" bought the 17 million shares at prices between S$1.38 and S$1.39 on the SGX on April 5 "even though the shares were trading on an ex-dividend basis" that day.
Aspial Corporation: The real estate developer has awarded the contract for the construction of its CityGate project to Woh Hup, it said on Monday, adding that it has sold 99 per cent of CityGate's residential units and 57 per cent of its commercial units. Construction for CityGate is expected to commence in May 2016 and TOP is expected to be obtained in January 2019.
iFAST Corporation: The investment products distributor is eyeing the Indian market. It plans to use about S$1.27 million in cash from its initial public offering proceeds to subscribe for 21.47 per cent of the enlarged share capital of Pecuniam, an investment holding company that indirectly owns a majority stake in iFAST Financial India, an India-incorporated company that distributes investment products in India, it said on Monday evening.