Stocks to watch: Thomson Medical, ValueMax, Hatten Land, CDL, GuocoLand

THE following companies saw new developments that may affect trading of their securities on Wednesday (Sep 13):

Thomson Medical : The group’s public float has dipped to 9.98 per cent, and the company said on Tuesday that it intends to apply to the Singapore Exchange for a period of three months for it to restore the public float to 10 per cent. The counter closed 1.7 per cent or S$0.001 higher at S$0.06 before the announcement.

ValueMax : The group has launched the eighth series of its three-month commercial paper (CP) in digital securities on the ADDX, through the private market exchange’s CP programme. The pawnbroking chain said on Tuesday that it expects to raise between S$20 million and S$50 million from both accredited and institutional investors. The group’s shares closed flat at S$0.315 after the announcement.

Hatten Land : Its proposed scheme of arrangement for its Malaysian subsidiary Gold Mart, for 60 per cent of liquidated ascertained damages to be waived, was approved at a creditor’s meeting. On Wednesday, the property developer said it will restart construction activities and relaunch its marketing campaign for Harbour City, once relevant approvals are obtained. Shares of Hatten Land ended Tuesday flat at S$0.016.

City Developments Limited (CDL), GuocoLand : Real estate company CDL won the bid at S$904 per square foot per plot ratio (psf ppr) for a tendered plot along Champions Way in Woodlands on Tuesday. It came in 8.3 per cent higher than the next highest bid. Meanwhile, GuocoLand won the bid for a plot at Lentor Central at S$982 psf ppr, in a joint venture with Hong Leong Holdings and China Construction (South Pacific) Development Co. Shares of CDL closed 0.2 per cent or S$0.01 lower to end at S$6.66, while GuocoLand shares closed 0.7 per cent or S$0.01 higher to end at S$1.55 on Tuesday.