Stocks to watch: Jumbo Group

THE following company saw new developments that may affect trading of its securities on Wednesday (Nov 29):

Jumbo Group : The restaurant operator posted earnings of S$6.7 million for the second half of the fiscal year ended September, up 52 per cent from its net profit of S$4.4 million in the year-ago period. Its board of directors recommended a final dividend of S$0.01 per share. Separately, Jumbo said its chief financial officer Tay Peng Huat had resigned to “pursue personal interests and other opportunities”. Shares of Jumbo fell 3.6 per cent or S$0.01 to close at S$0.27 on Tuesday, before both announcements.

Trading halt: Manulife US Real Estate Investment Trust (Manulife US Reit) requested a trading halt on Wednesday morning after releasing details of its recapitalisation plan, along with additional plans to reduce the Reit’s leverage. An extraordinary general meeting will be held on Dec 14 for unitholders to approve transactions proposed under the recapitalisation plan. Units of Manulife US Reit ended Tuesday down US$0.002 or 2.2 per cent at US$0.091.