Stocks to watch: Wing Tai, Valuetronics, HRnetGroup, Boustead Projects, Hwa Hong

THE following companies saw new developments that may affect trading of their securities on Thursday (May 26):

Wing Tai Holdings : The property and lifestyle group’s wholly-owned subsidiary has won the tender for Lakeside Apartments at S$273.9 million, representing a 14.1 per cent premium to the property’s S$240 million reserve price. In a press statement on Thursday, the group said it plans to redevelop the site into a residential development of more than 300 units. Wing Tai closed S$0.01 or 0.6 per cent higher on Wednesday at S$1.75.

Valuetronics Holdings : The mainboard-listed electronics manufacturing service provider on Thursday posted a 40.5 per cent drop in its net profit to HK$56.9 million (S$10 million) for the 6 months ended Mar 31, from HK$95.6 million in the year-ago period. The drop in net profit comes as a global components shortage impacted the group’s ability to meet orders for the full year. The counter closed flat at S$0.525 on Wednesday.