Stocks to watch: Straits Trading, Metis Energy, LHN, Medinex, Shanghai Turbo

THE following companies saw new developments that may affect trading of their securities on Monday (Sep 19):

Straits Trading : A subsidiary of the investment company, Straits Real Estate (SREPL), will spend A$63.5 million (S$60 million) to buy over a 20 per cent stake in the Australia-established ILP No 1 Trust from Canoga Industrial Investment Trust. The move comes as the company looks to redeploy capital from its existing property portfolio of high quality but low yielding investment properties into potentially higher return real estate opportunities via SREPL. Shares of Straits Trading closed down 0.3 per cent at S$3.21 before the announcement on Friday.

Metis Energy : The watch-listed renewable energy infrastructure company is acquiring a solar farm utility-scale project, Project Sunshine, for A$12 million (S$11.5 million). The acquisition, estimated to be complete by the end of this year, is expected to help the group achieve further growth in Australia. Its shares closed 16.1 per cent or S$0.01 higher at S$0.072, before the announcement.