Stocks to watch: Yangzijiang Shipbuilding, Golden Energy, Ho Bee Land, EC World Reit
Jessie Lim
THE following companies saw new developments that may affect trading of their securities on Monday (Mar 20):
Yangzijiang Shipbuilding : A unit of the company that used to hold 43 subsidiaries has been ordered by Singapore’s High Court to wind up, The Business Times reported last Friday. On Sunday, Yangzijiang Shipbuilding said that even if the unit winds up, it will not materially impact the group’s operations and financial condition for FY2023. Shares of Yangzijiang Shipbuilding closed flat at S$1.22 on Friday.
Golden Energy and Resources : The energy and resources company, which is proposing to delist from the Singapore Exchange, will raise its exit offer price by 13 per cent to S$0.181 per share, from S$0.16, following criticism that previous terms were unfavourable for minority investors. The counter ended at S$0.895, down 1.1 per cent or S$0.01 last Friday, before the news.
ComfortDelGro : The transport operator announced last Friday that its subsidiary Cityfleet Networks has acquired a private hire company based in the United Kingdom for £7.25 million (S$11.8 million). Its shares closed at S$1.17 last Friday, up 0.9 per cent or S$0.01, before the announcement.
Ho Bee Land : The real estate developer on Friday said the recent sale of its industrial assets for S$115 million was not related to its debt load. This was in response to an article stating that the group was disposing of two properties as it faces a debt deadline. Ho Bee Land closed 0.5 per cent or S$0.01 lower at S$2.23, before the group’s response was released.
EC World Real Estate Investment Trust (EC World Reit): Most of the Reit’s lenders have agreed to extend the deadline for the Reit’s outstanding onshore and offshore loans to Apr 30 this year. Units of EC World Reit rose by 5.1 per cent or S$0.015 to S$0.31 on Friday, before the news.
