Stocks to watch: SingPost, Top Glove, TalkMed

THE following companies saw new developments that may affect the trading of their securities on Monday (Dec 23):

Singapore Post (SingPost): Three of its senior management staff were terminated after they were found to be negligent in the handling of internal investigations over a whistleblower’s report. On Sunday, the postal services provider said its group chief executive Vincent Phang, group chief financial officer Vincent Yik, and its international business unit’s chief executive Li Yu were terminated with immediate effect on Dec 21. Shares of SingPost closed 0.9 per cent or S$0.005 higher at S$0.56 on Friday.

Top Glove : The glove manufacturer last Friday posted a net profit of RM5.5 million (S$1.7 million) for the first fiscal quarter ended November, reversing the prior year’s Q1 net loss of RM57.7 million, amid higher sales volume and healthier margins. Shares of Top Glove on the Singapore bourse closed 4.8 per cent or S$0.02 lower at S$0.40, after the results announcement.

TalkMed Group : The tertiary healthcare services provider on Monday announced that it received a privatisation proposal from TW Troy, a special purpose vehicle managed by Tamarind Health. The offer is made by way of a scheme of arrangement and TW Troy is offering S$0.456 per scheme share in cash. The counter closed 3.3 per cent or S$0.015 lower at S$0.435 on Friday.