Stocks to watch: OCBC, Great Eastern, Wing Tai, Yoma, No Signboard

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

OCBC , Great Eastern : The bank will take its insurance arm private only if the “conditions are acceptable and in the interests of OCBC and its shareholders”. Responding to queries from the Securities Investors Association (Singapore), or Sias, OCBC said Great Eastern’s listed status does “not affect” the close relationship between the bank and its subsidiary, given their synergistic relationship. Great Eastern shares closed S$0.01 or 0.04 per cent lower at S$25.64, while OCBC was up S$0.11 or 0.8 per cent at S$14.51 on Thursday, before the response to Sias was published.

Wing Tai : Its wholly owned subsidiary was awarded a 99-year leasehold residential site in River Valley at the tender price of about S$464 million, and plans to build more than 400 apartments there. Located at the junction of River Valley Green and River Valley Road, the site has a permissible gross floor area of 32,527 square metres. Shares of Wing Tai ended Thursday S$0.01 or 0.7 per cent higher at S$1.40, before the announcement was made.

Yoma Strategic : The Myanmar-focused company and its wholly owned subsidiary, Myanmar Motors, have entered into a share exchange agreement with Tokyo Century Asia to acquire all 20 per cent of the latter’s interest in Yoma Fleet, for S$18.5 million. Some 137 million new shares will be issued to Tokyo Century Asia at an issue price of S$0.135 per consideration share, said the company on Friday. Shares of Yoma Strategic ended Thursday up 6.9 per cent or S$0.008 at S$0.124.

No Signboard : The Catalist-listed food and beverage company has applied to be renamed as Bromat Holdings and will trade under the same name from Jul 2, it announced on Thursday. This comes after the group sold its “No Signboard” trademarks. Shares of No Signboard ended S$0.011 or 7.9 per cent higher at S$0.15, before the news. 

Trading halt: Bacui Technologies International requested a trading halt on Friday morning, pending the release of an announcement. Shares of the investment holding company formerly known as Arion Entertainment Singapore closed on Thursday S$0.002 or 40 per cent lower at S$0.003.