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.

Marco Polo Marine : The marine logistics group will build, own and operate a new commissioning service operation vessel, valued at about US$60 million, to meet rising demand in Asia’s offshore wind-farm industry. Its construction will be funded through existing resources and borrowings. Shares of Marco Polo ended up S$0.001 or 2.6 per cent at S$0.039 on Tuesday, before the announcement.

Lian Beng Group : The group has declined regulators’ request for the company to disclose the remuneration of employees singled out as family members of a director, the chief executive or a substantial shareholder. In a Tuesday response to an SGX query, it cited potential impact on the group’s ability to attract and retain key and middle-management talent. Prior to the announcement, the counter ended trading flat at S$0.54.

Trading halt: Technology solutions provider Revez Corporation called for a trading halt on Wednesday morning, pending the release of an announcement. The thinly-traded counter had ended the previous day unchanged at S$0.13.