Stocks to watch: Del Monte, Nanofilm, LHN, mm2 Asia

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jul 7):

Del Monte Pacific (DMP) : The group said on Monday it is expecting a capital deficit on its balance sheet from write-offs in relation to its US subsidiary Del Monte Foods (DMF), but that these developments are not expected to disrupt its operations beyond the US. This comes as DMP said it would deconsolidate DMF from its accounts as it no longer controls the unit, which recently filed for bankruptcy. As at Jan 31, DMP’s net investment value in DMF was US$579 million. The counter ended Friday unchanged at S$0.056.

Nanofilm Technologies : The group is acquiring the remaining stake of its majority-owned hydrogen technology solution provider Sydrogen, from Temasek’s unit Venezio Investments for S$15 million. Sydrogen is a joint venture between Nanofilm and Temasek’s unit since July 2021 and focuses on hydrogen production, storage and utilisation. The transaction represents 35 per cent of Sydrogen’s total issued share capital, or 49 million preference shares, indicated its bourse filing on Saturday. The company already owns 65 per cent of the total shareholdings of the provider, or 70 million shares. The counter closed on Friday at S$0.635, down 3.8 per cent or S$0.025 before the group entered into the sales and purchase agreement.