The Business Times

Stocks to watch: Jardine Matheson, Bukit Sembawang, Sinarmas Land, Boustead Projects

Published Thu, Apr 15, 2021 · 08:39 AM

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

Jardine Matheson Holdings: The conglomerate on Thursday announced it had completed its 15 per cent stake acquisition in Jardine Strategic Holdings, following approval by shareholders of the latter at a special general meeting held on April 12. Jardine Strategic has made applications to delist from the Singapore Exchange with effect from today, 9am; the London Stock Exchange from April 15, 8am (UK time); and the Bermuda Stock Exchange from April 14, 5pm (Bermuda time). Jardine Matheson shares ended Wednesday down US$0.20 or 0.3 per cent at US$64.87.

Bukit Sembawang: The property developer has put The Atelier's public launch on hold and is now conducting only private viewings for the 120-unit project due to health and safety concerns amid the pandemic. Based on caveats lodged as at Wednesday, four units were sold in March. This is out of 20 units that have been released to date. Shares of Bukit Sembawang closed at S$4.80 on Wednesday, up S$0.05 or 1.1 per cent.

Sinarmas Land: The mainboard-listed developer has sold a freehold office and residential property in London for a cash consideration of £72 million (S$131.8 million), it said on Wednesday. The property was owned by the company's wholly-owned subsidiary SML Great. The freehold property provides 44,116 square feet (sq ft) of Grade A office space and a self-contained five-unit residential block of 2,928 sq ft. Sinarmas Land shares closed unchanged at 24.5 Singapore cents on Wednesday before the announcement.

Boustead Projects: The real estate solutions provider's wholly-owned subsidiary Boustead Projects E&C (BP E&C) has agreed to a settlement with Veolia ES Singapore Industrial in relation to a 2017 contact. BP E&C will pay Veolia a net sum of S$4.9 million as part of the settlement, Boustead said in an exchange filing on Wednesday. Last September, Boustead said BP E&C had received a letter of demand from Veolia's solicitors for a payment of S$17.8 million. Boustead Projects shares rose 1.9 per cent or S$0.02 on Wednesday to close at S$1.07 before the announcement.


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