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Stocks to watch: AsiaMedic, Imperium Crown, BM Mobililty, ESR-Reit, VIT, Sabana Reit

THE following companies saw new developments which may affect trading of their shares on Monday:

AsiaMedic: Clinical services provider AsiaMedic said on Sunday that its sales and purchase agreement to acquire LuyeEllium Healthcare Co has lapsed. AsiaMedic and the vendors - Luye Medicals Group and three individuals, two of whom are doctors - will not be proceeding with the proposed acquisition. The first announcement of the S$42.2 million proposed acquisition was made in April 2017. LuyeEllium provides management services to hospitals in South Korea and China.

Imperium Crown: Imperium Crown on Sunday said its subsidiary, Fei County Wonder Stone Characteristic Town Development, has signed a non-binding memorandum of understanding (MOU) with Sim Leisure Group to collaborate to build Escape Theme Park at its Wonder Stone Park in Shandong, China. As part of the terms of the MOU, Fei County Wonder Stone will provide the land area and other basic infrastructure for the smooth operation of the theme park. In addition, Fei County Wonder Stone will help to procure the business licence for the operations of the theme park and other planning and government approvals.

BM Mobility: The mainboard-listed firm on Saturday said it expects to recognise a gain of 60 million yuan (S$12 million) from the planned disposal of two wholly-owned subsidiaries in China involved in its legacy business of producing and trading synthetic yarns and foamed materials. The sale of Zhihe (Fujian) Technology and Ziwo (Fujian) Import & Export Trading will significantly bolster its balance sheet and expedite its return to profitability, which it expects to achieve with its green energy business in Malaysia and China, it said.

ESR-Reit, Viva Industrial Trust (VIT): ESR-Reit requested a lift of its trading halt on Monday morning before trading hours began, days after unitholders approved a merger with Viva Industrial Trust that brings the real estate investment trust (Reit) closer towards becoming Singapore's fourth-largest industrial property trust. VIT also requested a lift of its trading halt on Monday morning.

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Sabana Reit: Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) announced it had issued a notice of termination on Aug 31 to Adviva Distribution, the tenant at 10 Changi South Street 2, due to the tenant's "failure to pay rent and other sums payable" under the lease agreement. In a late Friday filing after the market had closed, Sabana Reit said that the tenant owes S$2.14 million in rental arrears.

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