Stocks to watch: CDL, LHN, Dasin Retail Trust, Clearbridge Health, Biolidics, NauticAWT
Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Friday (Nov 24):
City Developments Limited (CDL): The property group and its joint-venture associates posted higher third-quarter sales of S$325 million, from S$281 million in the year-ago period. This came on the back of sales from its 408-unit residential development The Myst, for which the group sold 169 units since the project’s launch in July. Shares of CDL closed down 1.1 per cent or S$0.07 at S$6.21 on Thursday, before the update was released.
LHN Group : The Catalist-listed company on Thursday announced its transfer to the Singapore Exchange’s mainboard on Dec 13, with trading in its shares to commence at 9 am that day. LHN deems the move as beneficial to the company’s image, both locally and abroad. The counter closed unchanged at S$0.34 before the news.
Dasin Retail Trust : A group of unitholders who own more than 10 per cent of the business trust are looking to replace its current external trustee-manager with one that is fully owned by all unitholders, reported The Business Times on Thursday. The move is aimed at protecting unitholders’ interests, improving corporate governance and reaping potential cost efficiencies. Units of Dasin Retail Trust closed unchanged on Thursday at S$0.059, with no trades done.
Clearbridge Health , Biolidics : Clearbridge on Wednesday said it was considering Biolidics’ proposal to repay its S$2.1 million debt by the extended deadline of Dec 23. This comes as Biolidics proposed issuing 98.5 million new ordinary shares at S$0.0119 apiece to raise S$1.2 million in a partial repayment. Shares of Clearbridge last closed on Tuesday at S$0.013, up S$0.001 or 8.3 per cent; shares of Biolidics ended Monday flat at S$0.013, before both companies requested trading halts. They resume trading on Friday.
NauticAWT : Its non-independent non-executive chairman Chirasak Chiyachantana has resigned in the light of a recent criminal complaint filed against him by the Securities and Exchange Commission, Thailand. On Thursday, the Catalist-listed company said there were no other material reasons for his resignation. Its counter closed flat at S$0.009 following the news.
