Stocks to watch: Ho Bee Land, Wing Tai, Boustead, Soilbuild

THE following companies saw new developments that may affect trading of their securities on Wednesday (Mar 15):

Ho Bee Land : The real estate company on Wednesday said that it is selling two of its industrial properties to an unrelated third party for S$115 million. This is expected to result in a gain on the disposal of S$47.1 million, before deducting selling expenses, in the period that the deal is completed. Shares of Ho Bee Land closed Tuesday S$0.01 or 0.5 per cent up at S$2.22.

Wing Tai Holdings : The group’s Hong Kong-based associate company issued a profit warning on Tuesday, stating that it may report a loss for the financial year ended Dec 31, 2022. Separately, its other wholly-owned subsidiary, Wincove Investment, will acquire Holland Tower at 10 Holland Heights for S$76.3 million, with plans to redevelop the property into a residential development for sale. Wing Tai Holdings lost 0.7 per cent to end at S$1.47 on Tuesday before the profit warning announcement.