Stocks to watch: SGX, Oxley, Thakral, Aoxin Q&M Dental, mm2 Asia
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Sep 9):
Singapore Exchange (SGX) : The bourse operator’s securities market turnover rose 17 per cent year on year to S$33.6 billion, said its market statistics report on Monday. Its securities daily average value grew 17 per cent to S$1.6 billion as derivatives traded volume climbed 11 per cent to 27.4 million contracts. Shares of SGX finished Monday S$0.12 or 0.7 per cent higher at S$16.37, before the news.
Oxley : The company announced on Monday that it has sold its remaining 18 per cent stake in Phu Thinh Land. It will receive about 240 billion dong (S$11.5 million) from the sale proceeds. Oxley’s effective stake in Phu Thinh Land was originally 80 per cent before it was reduced. The counter closed 0.9 per cent or S$0.001 down at S$0.106, before the announcement.
Thakral : The company hopes to benefit from the proposed London listing of Project Glow Topco, which is the parent of UK-based The Beauty Tech Group. Thakral holds a 9.32 per cent effective interest in The Beauty Tech Group. While Thakral has yet to receive information on the potential valuation of The Beauty Tech Group upon a successful initial public offering (IPO), its board “notes the potential of a positive uplift” to its overall financial position arising from an increase in value of its pre-IPO effective stake in The Beauty Tech Group, the company said. Its counter on the Singapore Exchange closed 1.3 per cent or S$0.02 lower at S$1.51 on Monday.
Aoxin Q&M Dental : The company’s audit committee on Monday found “reasonable evidence” that its former chief executive officer Dr Shao Yongxin obtained about 15 million yuan (S$2.7 million) for personal use from employees and minority shareholders. The findings come after four different whistle-blower reports, said the company, with the committee finding the claims credible. Dr Shao did not respond to the committee’s e-mail queries after the board first learnt of the allegations in July, and resigned shortly after. Its counter closed flat at S$0.066, before the announcement.
mm2 Asia : The Cathay Cineplexes’ parent company said on Monday that the sale and purchase agreement to sell 97.5 million shares in Vividthree to Hildrics Asia Growth Fund VVC had been mutually terminated. The shares represented about 21 per cent of the total issued and paid-up share capital of media company Vividthree. In a bourse filing, mm2 Asia said the termination came after “careful consideration” and cited recent market volatility and its current struggles as the reasons for terminating the agreement. The company’s Malaysia subsidiary also received a payment demand of around RM1.3 million (S$396,000) on Monday. Its counter closed flat at S$0.003, before the announcement.
Trading halt: Both Vividthree and building maintenance and estate upgrading company ISOteam called for trading halts on Tuesday before the market opened, pending the release of announcements.
