The Business Times

Stocks to watch: Rex, Dasin Retail Trust, Lian Beng, SIA, Nanofilm, Zico

Yong Jun Yuan
Published Tue, Jul 6, 2021 · 08:49 AM

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

5WH : 5WH 0%: The oil and gas company on Tuesday morning said it has entered into a subscription agreement and will invest up to US$4 million in commercial drone company Xer Technologies. The move is part of its business diversification efforts to include sustainable solutions for energy production and materials used in various industries. Rex International shares closed at 20 Singapore cents on Monday, up 1.1 cents or 5.8 per cent.

CEDU : CEDU 0%: Its trustee-manager on Monday announced the termination of a sale and purchase agreement entered into by chairman Zhang Zhencheng and controlling unitholder Aqua Wealth to sell a half-stake in the trustee-manager and 5 per cent of the trust's units. Meanwhile, Mr Zhang has entered into a non-binding memorandum of understanding with Sino-Ocean Capital, a real estate fund management company in China, as part of a strategic partnership. Units of the trust closed on Monday at 60.5 Singapore cents before the announcement was made, down 0.8 per cent or 0.5 cent.

L03: The offer for the civil engineering and construction group has turned unconditional as the offeror Ong Sek Chong & Sons has secured 50.81 per cent of the total number of issued shares, said the offeror on Monday. The counter was unchanged at S$0.50 on Monday, before this announcement was made.

C6L: The flag carrier stated in a regulatory filing on Monday that former executive chairman of PwC Singapore Yeoh Oon Jin would join its ranks as independent non-executive director, and will also be a member of its audit committee. SIA shares closed 0.4 per cent higher at S$5 on Monday, before this appointment was announced.

MZH: The provider of nanotechnology solutions announced the appointment of Gary Ho Hock Yong as executive director replacing Lee Liang Huang as executive director after the latter quit. Mr Ho will also be a member of the board risk committee. Nanofilm shares closed down 0.4 per cent to S$5.48 on Monday, before Mr Ho's appointment was announced.


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40W: The Catalist-listed professional service firm has entered into a head of agreement with Green Packet and M24 Tawreeq relating to a proposed joint venture to apply for an Islamic digital bank licence from Bank Negara Malaysia. The application was put in on June 30, and a response is expected in Q2 2022. Zico shares closed unchanged at S$0.09 on Monday before it released its response.

Trading halt: Beng Kuang Marine on Tuesday morning requested a trading halt, pending the release of an announcement. It closed on Monday unchanged at 5.5 Singapore cents.

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