Stocks to watch: Jardine C&C, Innotek, Pavillon
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Yong Hui Ting
THE following companies saw new developments that may affect trading of their securities on Friday (Jul 15):
Jardine Cycle & Carriage : The investment holding company on Thursday made an unconditional voluntary takeover offer for the nearly 10 per cent stake it does not already own in Malaysia-listed Cycle & Carriage Bintang at RM2.70 a share. This translates to a cost of roughly RM27.2 million (S$8.6 million) for the group to acquire the shares. Jardine Cycle & Carriage shares closed 0.2 per cent or S$0.05 lower at S$26.55 on Thursday.
Innotek : The precision metal components company on Thursday issued a profit guidance for its H1 results as higher operating costs and customers’ operations disrupted by Covid-19 prevention measures hit its bottom line. The group said it would likely report a net loss when it releases its financial results in mid-August. Innotek shares rose 3 per cent or S$0.015 to close at S$0.52 on Thursday, before the announcement.
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