Stocks to watch: PropNex, Digital Core Reit, Nam Lee, Olam
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jan 5):
PropNex : A lawsuit against its subsidiary PropNex Realty and two co-defendants has been dropped, said the real estate services company on Jan 2 without giving details. The claimant had sought to seek damages against PropNex Realty due to the alleged misconduct of one of its salespersons and had filed the suit in February 2025. PropNex shares rose S$0.02 or 1.1 per cent to close at S$1.90 on Friday, before the announcement.
Digital Core Reit : The pure-play data centre real estate investment trust (Reit) on Monday announced a 10-year agreement with an investment grade global cloud service provider to occupy an entire facility in Virginia, US. The agreement will commence on Dec 1 this year and is expected to generate about US$14.8 million of annualised net property income, or around US$13.3 million at Digital Core Reit’s 90 per cent share, representing roughly a 35 per cent increase relative to the previous net rent. Units of the Reit rose 2 per cent or US$0.01 to close at US$0.51 on Dec 31, before the manager called for a trading halt on Friday.
Nam Lee Pressed Metal Industries : The company on Sunday said it did not know why two of its shareholders are calling for the removal of its chairman and executive director Joanna Yong. The two requisitioning shareholders own a combined stake of at least 10 per cent of the company. The extraordinary general meeting comes months after Nam Lee’s managing director Eric Yong was interviewed by the Corrupt Practices Investigation Bureau over a whistle-blower report. Shares of Nam Lee closed flat at S$0.645 on Friday.
Olam : Almost a year on, Olam Group’s sale of 44.58 per cent of Olam Agri Holdings to the Saudis has yet to be completed. Olam Holdings and Olam Agri entered into the US$1.8 billion deal with the Saudi Agricultural and Livestock Investment Company in February 2025. Olam said regulatory approvals from most jurisdictions have been obtained, save for two which are being obtained. Shares of Olam closed 1 per cent or S$0.01 lower at S$0.95 on Friday.
