Stocks to watch: Jardine Matheson, Mandarin Oriental, mm2 Asia, Abundance International

THE following companies saw new developments that may affect the trading of their securities on Tuesday (Dec 26):

Jardine Matheson , Mandarin Oriental : Hotel operator Mandarin Oriental, which has a secondary listing in Singapore and is a member of the Jardine Matheson group, has signed an option to sell its interests in Mandarin Oriental in Paris for 205 million euros (S$298.9 million). Sale proceeds will go towards the group’s general development strategy. Shares of Jardine Matheson closed 0.1 per cent or US$0.03 higher at US$39.66, while Mandarin Oriental shares ended flat at US$1.56 on Friday, before the news.

mm2 Asia : Its chairman Melvin Ang has paid S$6.1 million to participate in the media and entertainment company’s one-for-two rights issue at S$0.02 per rights share. The transaction was approved by shareholders at an extraordinary general meeting on Friday, where a majority also voted to approve the transfer of controlling interest to two substantial shareholders, Oei Hong Leong and Sam Goi. Shares of mm2 Asia closed 3.2 per cent or S$0.001 higher at S$0.032 on Friday, before the announcement.