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Stocks to watch: AA Reit, First Sponsor, Procurri, ThaiBev, Yoma, Hatten Land, ISEC Healthcare
THE following companies saw new developments that may affect trading of their shares on Monday:
AIMS Apac Reit (AA Reit): AA Reit and its joint venture partner, Stockland, have secured a new agreement with its existing master tenant Optus Administration, for a further 12-year term at the Optus Centre property in Macquarie Park, New South Wales, Australia. Optus Administration is a wholly-owned unit of Singtel Optus, a subsidiary of Singapore Telecommunications. AA Reit closed up S$0.02 or 1.4 per cent to S$1.44 on Friday.
First Sponsor: A consortium led by mainboard-listed First Sponsor has partnered ICD Property to redevelop the iconic City Tattersalls Club project in Sydney, Australia. The tie-up comes after the City of Sydney had given the green light for plans to rejuvenate the entire clubhouse. There are also plans to develop a 49-storey tower above the historic site, comprising apartments and a hotel. First Sponsor is also providing construction funding for the project's entire delivery. Shares of First Sponsor were flat at S$1.30 at Friday's close.
Procurri Corp: The mainboard-listed firm has accepted a letter of intent from a would-be buyer of its third-party hardware maintenance business, the board said on Friday evening. Procurri will sell the business for US$115 million in cash to third-party maintenance company Park Place, and has also inked an exclusivity agreement until Dec 31, 2019, subject to three 15-day extensions. Procurri on Friday evening requested to resume trading in the wake of its latest disclosure. Its shares last traded flat at S$0.370 on Nov 7, before it initiated a trade suspension on Nov 8.
Thai Beverage (ThaiBev): Its full-year net profit swelled 29.7 per cent to 23.3 billion baht (S$1.1 billion), lifted by a stronger showing from its spirits business and its mainboard-listed units, Frasers & Neave (F&N) and Frasers Property (FPL). The board has proposed a final dividend of 0.33 baht per share. Taken with the interim dividend of 0.15 baht paid, this will give a total distribution of 0.48 baht per share for fiscal 2019, up from 0.39 baht previously. ThaiBev shares fell two cents to S$0.89 on Friday before the results were announced.
Yoma Strategic: The executive chairman of the mainboard-listed, Myanmar-focused investment holding company will still hold a stake of at least 25 per cent, even with recent investment plans by Philippine conglomerate Ayala Corp, the board disclosed on Sunday evening. This is part of the chairman's undertakings for the placement of new shares to Ayala - an issuance for which Yoma Strategic gained in-principle approval from the Singapore bourse on Nov 22. Yoma Strategic shares closed flat at S$0.375 on Friday before the latest announcement.
Hatten Land: The Catalist-listed developer's plans to raise some S$5.1 million from a share placement will take a little longer than expected, the board disclosed on Saturday. Hatten Land asked the bourse for, and was given, an extension of five market days - that is, until Nov 29 - to complete the placement of 56.5 million new shares to construction and property management businessman Yang Tse Pin's Kingpin Investment. That is because "the placee has communicated to the company that more time is required to complete the proposed placement", the board said, adding that Kingpin Investment has given an undertaking to complete the placement by the new deadline. Hatten shares last closed down 0.2 Singapore cent or 2.17 per cent to S$0.09 on Friday before the announcement.
ISEC Healthcare: The mandatory offer for Catalist-listed ISEC Healthcare is "not fair but reasonable", independent financial adviser CIMB Bank Berhad said, in an opinion released on Friday night. Still, the independent directors - in line with CIMB's advice - recommended that shareholders accept the S$0.36-a-share cash offer, unless they can get a higher price on the open market. The counter last closed flat at S$0.355 on Friday before the announcement was made.
Trading halt: RHT Health Trust on Monday morning requested for a trading halt pending the release of an announcement. Its units closed unchanged at S$0.019 on Friday.