Stocks to watch: Isetan Singapore, Best World, UOB

THE following companies saw new developments that may affect trading of their securities on Tuesday (Apr 2):

Isetan Singapore : Japan’s Isetan Mitsukoshi is proposing to privatise mainboard-listed Isetan Singapore. This would be done through a scheme of arrangement, with a consideration of S$7.20 for each target share, which implies a 37.4 per cent premium over the counter’s highest closing market price of S$5.24 in the past five years. Its shares closed flat at S$2.84 on Mar 28 before a trading halt was called on Monday morning pending the release of the announcement. The counter resumes trading on Tuesday.

Best World International : A group of its shareholders who hold at least a 10 per cent interest in the company has withdrawn its requisition letter, said the beauty products distributor on Monday. The Mar 21 letter sought to table six resolutions regarding the company’s dividend policy and directors’ pay, among others, at its next general meeting. Shares of Best World ended S$0.06 or 2.8 per cent higher at S$2.18, before the announcement.