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Stocks to watch: Asia-Pacific Strategic Investments, Huan Hsin
THE following stocks made announcements on Wednesday morning that could affect trading.
Asia-Pacific Strategic Investments: The company has picked up a stake in LionGold's former Amayapampa Gold Project in Bolivia.
The firm, which is currently in the midst of a reverse takeover deal involving miner Coeur Gold Armenia, bought a 22.3 per cent stake in special purpose vehicle Silvermane Investments for S$6 million. The firm has paid S$2 million in cash under the deal that was completed on Tuesday, and will pay the balance through promissory notes when the mine starts production. The counter closed at 5.5 Singapore cents on Tuesday.
Huan Hsin Holdings: The contract manufacturer of telecom and electronic products is selling its 51 per cent stake in Hefei Baolong Hsin Technology for 6.19 million yuan (S$1.3 million) in cash.
Hefei Baolong Hsin Technology manufactures notebook casings, and the sale is being made to Huan Hsin's joint venture partner, Shenzhen Bitland Information Technology, which owns the remaining 49 per cent stake.
Huan Hsin was placed on the Singapore Exchange's watchlist on March 5 this year after making losses for three consecutive years. The deal is part of its strategy to monetise its non-yielding assets.