Stocks to watch: Accrelist, UMS Integration, Singapore Kitchen Equipment

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Sep 30):

Accrelist : The Catalist-listed medical aesthetics and technology group, on Tuesday defended its proposed RM30 million (US$7.4 million) divestment of its stake in Malaysia-listed MClean Technologies. This followed queries from the Singapore Exchange over the transaction’s mechanics, pricing and the identities of the buyers. Accrelist shares fell 4.5 per cent to close S$0.008 lower at S$0.171 on Tuesday, before the news.

UMS Integration : The company called for its trading halt to be lifted after it announced a Malaysia placement of 52.9 million new shares at RM8.50 per share. That amounts to a maximum aggregate consideration of up to RM450 million. About three-fourths of the proceeds will be used to fund projects in Penang, Malaysia, while the rest will be used to fund projects in Vietnam and Singapore. Shares of UMS fell 3.3 per cent or S$0.09 to close at S$2.63 on Monday.