Stocks to watch: Parkway Life Reit, Top Glove, Marco Polo Marine, Lian Beng

THE following companies saw new developments that may affect trading of their securities on Wednesday (Sep 21):

Parkway Life Real Estate Investment Trust (Parkway Life Reit): The healthcare-focused Reit is acquiring 2 nursing homes in Japan for 2.88 billion yen (S$29.4 million) to deepen its expansion in the country’s aged care market. This will increase its portfolio’s weighted average lease expiry by gross revenue from 17.05 years as at end-August to 17.21 years. Its units ended at S$4.62 on Tuesday, up S$0.03 or 0.7 per cent, before the announcement.

Top Glove Corporation : On Tuesday, the glove manufacturer reported a net loss of RM52.6 million (S$16.3 million) for the fourth fiscal quarter ended August, reversing from a net profit of RM447.4 million in the corresponding year-ago period. This marks its first quarterly net loss since the company’s Malaysia listing in 2001. Shares of Top Glove fell S$0.005 or 2.3 per cent on the Singapore Exchange (SGX) to close at S$0.215 on Tuesday, after the news.