Stocks to watch: Centurion, Far East Group

[SINGAPORE] The following companies saw developments that may affect the trading of their securities on Thursday (Jun 18):

Centurion : The group on Wednesday said it has acquired 25 per cent equity interest in a purpose-built student accommodation (PBSA) development in Perth for A$250,000 (S$225,475). This is the company’s second investment in the city, after buying a stake in a 472-bed Stirling Highway PBSA development last December. The remaining 75 per cent share of the property is held by Centurion Properties Australia Investments, a wholly owned subsidiary of the group’s controlling shareholder. The counter ended Wednesday 1.3 per cent or S$0.002 higher at S$1.51, before the news.

Far East Group : The company on Thursday said it acquired 705,000 shares in Eden Refrigeration Manufacturing (Jiangsu) (ERM), which represents about 7.1 per cent of the total issued and paid-up share capital of ERM. Once this move is completed, this will see the group holding a 91.3 per cent equity interest in ERM. Shares of Far East Group ended flat at S$0.11, before the announcement.

Trading halt: Both Lum Chang Holdings (LCH) and Lum Chang Creations (LCC) called for trading halts with immediate effect on Thursday morning, pending the release of an announcement. Shares of LCH ended Wednesday 1 per cent up at S$0.515, while LCC shares closed flat at S$0.83.