Stocks to watch: Mapletree Logistics Trust, Chip Eng Seng, Ossia International

THE following companies saw new developments that may affect trading of their securities on Wednesday (Dec 28):

Mapletree Logistics Trust (MLT): It is selling its 23-year-old cargo lift warehouse at 3 Changi South Lane to Nova Furnishing for S$22 million. This comes as the trust’s manager considers the warehouse’s specifications “outdated”, and deems the asset no longer suitable nor efficient to meet the requirements of today’s logistics users. Units of MLT closed 1.3 per cent or S$0.02 higher at S$1.58 on Tuesday, before the news.

Chip Eng Seng : Gordon and Celine Tang’s offer to take the company private at S$0.75 per share has received valid acceptances amounting to over 481.3 million shares, representing about 61.4 per cent of the total number of shares. Separately, the property player’s independent financial adviser said terms of the offer are fair “on balance” in response to Singapore Exchange’s queries. Shares of Chip Eng Seng closed flat at S$0.75 on Tuesday, before both announcements.

Ossia International : The company is seeking a third-time extension to meet the financial criteria to exit Singapore Exchange’s watch list. If granted, the deadline will be extended for another 12 months until Dec 4, 2023. Shares of the thinly traded counter closed flat at S$0.115 on Tuesday, prior to the announcement.

Trading halt: Japfa on Wednesday morning called for a trading halt with immediate effect. This comes ahead of the group’s planned listing of AustAsia Group on the Stock Exchange of Hong Kong, as well as the proposed distribution-in-specie of the group’s entire shareholding in its China-focused dairy unit. The counter ended Tuesday S$0.015 or 2.7 per cent down at S$0.535.