Stocks to watch: Wilmar, Sembcorp, Keppel Infrastructure Trust, Del Monte, GSH, Tuan Sing

THE following companies saw new developments that may affect trading of their securities on Monday (Jul 1):

Wilmar International : The mainboard-listed agribusiness has raised its effective stake in Unity Foods, a Pakistan-listed edible oils and industrial fats producer, to around 42.2 per cent. The group’s subsidiary and a related company bought about US$15.4 million worth of shares, it said on Friday. Shares of Wilmar ended S$0.03 or 1 per cent lower at S$3.10 before the news.

Sembcorp Industries : The group on Friday announced the upcoming appointment of two new non-executive directors to the board. Manu Bhaskaran will be appointed as non-executive and independent director on Jul 1, while Uwe Krueger will join as non-executive, non-independent director on Oct 1. Shares of Sembcorp closed S$0.16 or 3.2 per cent lower at S$4.81 before the news.

Keppel Infrastructure Trust (KIT): Its trustee-manager, Keppel Infrastructure Fund Management, said on Friday it obtained a S$50 million loan. However, the trustee-manager did not disclose the purpose of this multi-currency revolving credit facility. Units of KIT ended 1.1 per cent or S$0.005 higher at S$0.47 before the announcement.

Del Monte Pacific : The Philippine food and beverage maker posted a net loss of US$76.7 million for the fourth quarter ended Apr 30, 2024, widening from a loss of US$11.9 million in the same period last year. On Friday, the company attributed the performance to higher variable product and waste cost, and warehousing and distribution costs related to the high inventory level of its US subsidiary. Del Monte shares closed S$0.003 or 3 per cent higher at S$0.103 before the results were announced.

GSH : The property developer officially opened its first upper-upscale hotel in Chongqing, China. The development is part of the group’s first integrated hotel and residential project in the country, it said on Friday. Shares of GSH ended 3.2 per cent or S$0.005 lower at S$0.154 before the announcement.

Tuan Sing : The property player’s indirect wholly owned subsidiary has ended its agreements to manage Hyatt Regency in Perth, Western Australia, ahead of the property’s planned repositioning and branding. On Monday, Tuan Sing said it expects to incur S$2 million in costs and expenses from the termination. Its shares ended last Friday unchanged at S$0.23.

Asia-Pacific Strategic Investments (AP Strategic): The Catalist-listed company has entered into a conditional subscription agreement with IFH Technology for an aggregate consideration of S$6.3 million. Almost half of the net proceeds will be used for general working capital, about 30 per cent will be used to defray costs and expenses arising from the company’s acquisition of data solutions provider Mobii Genius, and the reminder will be used to repay a term loan, said the company on Saturday. Shares of AP Strategic last closed flat at S$0.001 on Jun 26 before the company called for a trading halt the next day. Its shares will resume trading on Monday.