Stocks to watch: Haw Par, UOI, Japfa, Cordlife, UMS, Elite UK Reit

THE following companies saw new developments that may affect trading of their securities on Monday (Mar 3).

Haw Par ; United Overseas Insurance (UOI): Minority shareholders of UOB’s insurance arm proposed resolutions to distribute its holding of 4.27 million shares in healthcare player Haw Par Corporation to shareholders of UOI, as well as to appoint an independent financial adviser to unlock further shareholder value. The shareholders, who represent around 2.8 million shares or 4.5 per cent of UOI’s total shares, proposed to table the resolutions at its upcoming annual general meeting. Shares of Haw Par closed Friday 0.7 per cent or S$0.09 down at S$12.71. Shares of UOI closed Friday 0.7 per cent or S$0.05 down at S$7.40.

Japfa : The agri-food group posted net profit of US$61.9 million for H2 FY2024 ended December as revenue rose and cost of sales shrank. It posted US$2.4 billion in revenue, up 2 per cent year on year, while cost of sales contracted 5 per cent. It made a turnaround in profitability for FY2024 with US$113.6 million in earnings against a US$30.8 million loss for FY2023. The counter closed flat at S$0.61 on Friday, before the financial results were published.