Stocks to watch: OUE Healthcare, Healthway Medical, Keppel, ARA H-Trust, AP Strategic

THE following companies saw new developments that may affect trading of their securities on Monday (Jul 3):

OUE Healthcare, Healthway Medical : OUE Healthcare has proposed to delist Healthway Medical via a conditional exit offer at S$0.048 per offer share in cash. OUE Healthcare said the exit offer is an opportunity for it to strengthen its regional healthcare ecosystem. On Friday, OUE Healthcare shares closed 3.7 per cent or S$0.001 lower at S$0.026, while Healthway Medical shares closed flat at S$0.033.

Keppel : A claimant has filed an appeal against an earlier South Jakarta District Court ruling that his 1.72 trillion rupiah (S$154.9 million) lawsuit against the group’s wholly-owned subsidiary was inadmissible. Shares of Keppel closed 0.6 per cent or S$0.04 higher at S$6.71 on Friday, before the announcement.

ARA US Hospitality Trust (ARA H-Trust): The stapled group will divest its hotel Hyatt Place Oklahoma City Airport for US$8 million as part of efforts to optimise the trust’s portfolio, the managers said on Saturday. The transaction price represents a 7 per cent discount to the independent valuation of the hotel, which was last valued at US$8.6 million as at Dec 31, 2022. The counter closed 1.5 per cent or US$0.005 higher at US$0.34 on Friday.

Asia-Pacific Strategic Investments (AP Strategic): The hotel operator will no longer acquire Catapult Ventures, which owns personal financial marketplace MoneySmart. The acquisition would have resulted in the reverse takeover of AP Strategic and the listing of Catapult Ventures on the Singapore Exchange, subject to the bourse’s approval. The counter closed flat at S$0.002, before the announcement was made.

Sabana Industrial Real Estate Investment Trust (Sabana Reit): Its sponsor and largest unitholder ESR Group on Friday said that Quarz Capital’s plan to internalise the Reit’s manager lacks clarity on the role of the trustee. ESR also called Quarz “highly reckless and irresponsible” for not providing any plans for the management of Sabana Reit should its resolutions pass at the Reit’s extraordinary general meeting. Sabana Reit’s units closed flat at S$0.435 on Friday before ESR released its response.

Trading halts: Wilton Resources, Dasin Retail Trust, The Place Holdings and Mercurius Cap Investment separately called for trading halts on Monday morning pending the release of announcements. On Friday, Wilton Resources closed 11.8 per cent or S$0.002 lower at S$0.015; Dasin Retail Trust closed 5.9 per cent or S$0.007 higher at S$0.125; while The Place Holdings closed 11.1 per cent or S$0.001 lower at S$0.008. Mercurius last traded at S$0.016 on Jun 23.