Stocks to watch: Jardine Matheson, SPH, SingPost, Olam, Lendlease Global Reit, ESR-Reit

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

J36: The investment company said that its full-year outlook remains uncertain, despite progress for "most businesses" in its portfolio. The company still faces challenges from the Covid-19 pandemic, it announced in an interim business update for the first quarter. Jardine Matheson, which is listed in London, Bermuda and Singapore, closed on Thursday at US$66.48, up by US$0.47 or 0.7 per cent.

T39: The media and property group, which publishes The Business Times, has proposed a restructuring involving a transfer of the media business to a not-for-profit entity, in the form of a company limited by guarantee. This structure will allow any future profits from the media business to be reinvested into the media operations rather than distributed to shareholders. SPH called for a trading halt on Thursday before the market opened. Its shares fell 1.1 per cent or S$0.02 on Wednesday to close at S$1.79. The trading halt has since been lifted.

S08: The mainboard-listed postal service provider reported an e-commerce-dominated top line, with 65 per cent derived from the business. E-commerce accounted for 34 per cent of its domestic post and parcel revenue for the financial year to March, up from 21 per cent in the previous year. The counter closed 1.3 per cent or one Singapore cent lower at 74.5 cents on Thursday.

O32: The mainboard-listed agri-food giant intends to be a technical partner in the privatisation of a Saudi flour mill. Olam is part of a consortium that last month won the bid to privatise state-owned Second Milling Company, which was sold for 2.13 billion riyals (S$750 million). Its shares closed on Thursday at S$1.70, up by S$0.01 or 0.6 per cent.

JYEU: Its portfolio occupancy as at end-March stood at 99.7 per cent, down by a marginal 0.1 percentage point on year and unchanged from the previous quarter. According to the Reit manager in its Q3 business update on Friday, overall tenant sales for 313@somerset has recovered faster than visitation as shopper spending increased despite reduced footfall. Units of Lendlease Global Reit closed S$0.01 or 1.3 per cent higher at S$0.78 on Thursday.

J91U: Its private placement to raise around S$100 million as part of a fundraising exercise was 3.4 times subscribed, the manager said on Friday. It fixed the issue price at 37.2 Singapore cents per new unit, the lower end of the indicative range. The manager called for a trading halt before the market opened on Thursday. The units last traded at S$0.41 on Wednesday.

5H0 , C29 : A joint venture consisting of subsidiaries from property developers SingHaiyi, Chip Eng Seng and Hong Kong-listed Chuan Holdings has won the collective sale tender for Maxwell House at a price of S$276.8 million. Shares of SingHaiyi closed flat at 6.9 Singapore cents on Thursday, while Chip Eng Seng ended flat at 44.5 cents.