Stocks to watch: IHH Healthcare, Venture, Starhill Global Reit, Cordlife
Mia Pei
THE following companies saw new developments that may affect trading of their securities on Friday (Dec 1):
IHH Healthcare : The mainboard-listed company reported earnings of RM532.1 million (S$152.7 million) for its third fiscal quarter ended September, more than double the earnings in the corresponding year-ago period. This translated to earnings per share of 6.04 sen, versus 2.78 sen in the previous year. The higher earnings came on the back of higher revenue across all its markets, said the company on Thursday. Shares of IHH gained 0.6 per cent, or S$0.01, to close at S$1.68, before the news.
Venture Corporation : The mainboard-listed manufacturer is planning to purchase up to 10 million of its ordinary shares. The share-buyback plan was authorised by the board on Nov 29, after its shareholders approved the share-purchase mandate at an annual general meeting in April. Under the mandate, the company can buy up to about 14.5 million shares, which translates to 5 per cent of the total number of issued shares of the company as at the date of the mandate. The counter lost 1.4 per cent, or S$0.18, to close at S$12.53 on Thursday, before the announcement.
Starhill Global Reit : The real estate investment trust’s manager announced on Thursday the renewal of its current master lease with Takashimaya manager Toshin Development Singapore. The lease, due to expire in June 2025, will now run for an initial term of 12 years. Beyond its expiry on Jun 7, 2037, the master lease may be further renewed by either party for an additional six years, and for a further three years thereafter, at the option of Toshin. Units of Starhill Global Reit closed flat at S$0.485 before the news.
Cordlife Group : The mainboard-listed consumer healthcare group was on Thursday issued a notice to stop collecting new cord blood and human tissue for six months after the Ministry of Health found seven of the company’s 22 cord-blood storage tanks being kept at temperatures above acceptable limits. The suspension of collecting, testing, processing and storing new cord-blood or tissue samples is to start within two weeks of the notice. Cordlife’s shares closed on Thursday at S$0.455, up 1.1 per cent or S$0.005.
Golden Agri-Resources : The palm oil producer has been added to the Straits Times Index (STI) reserve list, following a December quarterly review. Counters on the reserve list will replace constituent stocks of STI that become ineligible as a result of corporate actions before the next review. Before the news on Thursday, Golden Agri-Resources shares closed 1.9 per cent, or S$0.005 lower, at S$0.265.
