Stocks to watch: IHH Healthcare, Wing Tai, Silverlake Axis, Geo Energy, Nordic Group

THE following companies saw new developments that may affect trading of their securities on Monday (Aug 28):

IHH Healthcare : The dual-listed hospital operator has agreed to buy another 24.5 per cent equity stake in Ravindranath GE Medical Associates (RGE) for 7.4 billion rupees (S$121 million) in cash. This would bump up its stake in the Indian healthcare chain to 98.2 per cent from 73.6 per cent, and allow IHH to assume full control of RGE’s operations. Prior to the announcement on Friday, shares of IHH closed up 0.6 per cent or S$0.01 at S$1.75.

Wing Tai : It sank into the red for the second half-year ended June with a S$50 million net loss, which shrank net profit for the full year by 91 per cent to S$13.3 million. The property group has recommended a first and final dividend of S$0.03 per share, with an additional special dividend of S$0.02 per share. Shares in Wing Tai closed down 0.8 per cent or S$0.01 to S$1.32 on Friday, before the announcement.

Silverlake Axis : The enterprise technology, software and services company posted a 19.6 per cent year-on-year drop in net profit for H2 ended Jun 30, to RM70.3 million (S$20.5 million), on lower revenue. Its board proposed a final dividend of S$0.006 per ordinary share for the financial year, down from its previous year’s final dividend of S$0.007 per share. The counter closed flat at S$0.26 on Friday, before the results were released.

Geo Energy : The Indonesian coal producer has entered into a US$4 million loan agreement with Singapore-headquartered electric vehicle (EV) startup Charged Asia. Its deal carries the conditional right to convert all outstanding amounts of accrued interest under the loan into ordinary shares of Charged Asia, as well as an option to enter into further agreements for Geo Energy to increase its investment in the electric motorcycle manufacturer. Shares of Geo Energy closed down 2.3 per cent or S$0.005 at S$0.215 on Friday, before the announcement.

Nordic Group : About S$40.8 million worth of contracts have been secured from repeat customers, announced the automation systems integration solutions provider on Saturday. The group is also disposing of a non-core asset at Benoi Place for S$3.5 million, subject to approval from JTC. Shares of Nordic ended Friday unchanged at S$0.42.

Trading halt: The Place Holdings requested a trading halt on Monday morning, pending the release of an announcement. The counter closed flat on Friday at S$0.008.