Stocks to watch: Wilmar International, Dasin Retail Trust

THE following companies saw new developments that may affect the trading of their securities on Tuesday (Dec 31):

Wilmar International : The agribusiness group is acquiring Indian multinational conglomerate Adani Group’s remaining stake in Adani Wilmar, a consumer goods joint venture between both groups, at a price not exceeding 305 rupees a share. Assuming the transaction is completed at this price, the group expects to recognise a gain on deemed disposal of an associated company of about US$1.5 billion. Shares of Wilmar International closed S$0.02 or 0.7 per cent higher at S$3.09 on Monday, before the announcement.

Dasin Retail Trust : Its trustee-manager has received a requisition notice from a group of unitholders who are seeking to not only internalise Dasin’s trustee-manager function, but also to replace its current adviser, FTI Consulting (Singapore). These proposed moves would “revitalise” the trust’s restructuring talks with its creditors, said the requisitioners in a Dec 27 letter posted by the trustee-manager on Monday. Units of Dasin closed S$0.003 or 10.3 per cent higher at S$0.032, after the news.