Stocks to watch: HRnetGroup, Medtecs, CPO plays, Oceanus, Mary Chia

THE following companies saw new developments that may affect trading of their securities on Wednesday:

HRnetGroup: The recruitment company posted a net profit of S$46.9 million for its full year ended Dec 31, 2020, down 9.2 per cent from the year-ago period, while revenue rose 2.4 per cent to S$433 million. Shares of HRnetGroup closed at 58.5 Singapore cents on Tuesday, up 0.5 cent or 0.9 per cent, before its results announcement.

Medtecs International: The healthcare player on Wednesday said it has entered into a joint venture with ACO International to build a vertically integrated product development, manufacturing, sales and distribution platform. Shares of Catalist-listed Medtecs closed at 95.5 Singapore cents on Tuesday, down 4.5 cents or 4.5 per cent.

Crude palm oil (CPO) counters: The recent spike in CPO prices has helped lift revenues of CPO plays listed on the Singapore bourse. The effects, however, have not been universal. It is the smaller, pure-play counters - such as Bumitama Agri and Mewah International - that have come out tops, The Business Times reports. Bumitama shares ended flat at 46.5 Singapore cents on Tuesday, while Mewah shares closed at 34.5 Singapore cents, down 2.5 cents or 6.8 per cent.

Oceanus Group: Shares of the seafood supplier plummeted on Tuesday amid heavy trading. The stock finished at 6.4 Singapore cents, shedding 0.8 cent or 11.1 per cent. About 452.9 million shares changed hands, making it the most heavily traded counter on the Singapore bourse for the day.

Mary Chia Holdings: The beauty and wellness firm has entered into a conditional debt capitalisation agreement for the proposed debt conversion and issue of 25.5 million new shares at S$0.15 per conversion share. As at March 1, the total amount owed to three creditors is about S$3.8 million. The counter last traded at S$0.17 on Monday, prior to a trading halt that was called on Tuesday morning before market open.

Emerging Towns & Cities Singapore (ETC): The company has voluntarily converted its trading halt into a trading suspension. In its response to queries from the Singapore Exchange on Tuesday, ETC said it intends to engage with an independent professional to review the material contractual payments to the Myanmar government ministries and departments. The counter last traded at 3.4 Singapore cents on Feb 25, the day before the trading halt was called.

Trading halt: Halcyon Agri Corporation on Wednesday morning requested a trading halt, pending the release of an announcement. The counter closed at 26.5 Singapore cents on Tuesday, down three cents or 10.2 per cent.