Stocks to watch: Grand Venture, Tung Lok, DFI, Olam, Stamford Land, Boustead, Wee Hur, OKP

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Jun 2).

Grand Venture Technology : The semiconductor company on Sunday said it had paused its proposed secondary listing on Malaysia’s Bursa exchange in view of confidential talks with a third party in relation to a possible transaction which could lead to an offer for its shares. While discussions are ongoing there is no certainty that any transaction will take place, it added. The counter ended Friday 2.4 per cent or S$0.02 higher at S$0.84, before the announcement.

Tung Lok Restaurants: The group posted a net profit of S$853,000 for its second half ended March, a 52.1 per cent decline from S$1.8 million in the year-ago period. For its full year, it sank into the red with a net loss of S$1.8 million, as compared to a S$2 million net profit previously. The losses came amid F&B industry woes as the group said it faced headwinds from a subdued economic outlook and softer consumer sentiment. The counter ended Friday unchanged S$0.085 before the announcement.