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Stocks to watch: Biolidics, Frasers Property, Sembcorp, GuocoLand, Sri Trang Agro
THE following companies saw new developments that may affect trading of their securities on Wednesday:
Biolidics: The Catalist-listed firm on Tuesday night said it has inked a five-year licence agreement with the commercialisation arm of the Agency for Science, Technology and Research. Biolidics plans to develop new Covid-19 serology tests using the agency’s technology. Shares of Biolidics traded at S$0.52 on Monday before it called for a trading halt during the midday break. It lifted the halt on Wednesday morning.
Frasers Property: Frasers Property has brought in a strategic capital partner for Northpoint City (South Wing). TCC Prosperity has subscribed for 50 per cent of units of North Gem Trust, which owns the property. The transaction allows the Frasers Property group to recognise a gain of S$50 million over the asset's last audited book value. The counter closed at S$1.21 on Tuesday, down S$0.02 or 1.6 per cent, before the announcement.
Sembcorp Industries, Sembcorp Marine (Sembmarine): The Securities Investors Association (Singapore) is seeking answers from Sembcorp and Sembmarine on why they are undertaking a S$2.1 billion recapitalisation and divorce amid poor economic conditions. Sembcorp shares ended S$0.02 or 1.1 per cent lower at S$1.80 on Tuesday, while Sembmarine shares shed one Singapore cent or 2.2 per cent to 44.5 cents.
GuocoLand: The property developer’s group chief financial officer Lim Yoke Tuan has resigned after two years on the job, to "pursue other career opportunities", GuocoLand said on Tuesday after trading hours. GuocoLand shares finished at S$1.46, down S$0.03 or 2 per cent.
Sri Trang Agro-Industry: The euphoria over rubber-glove makers this year has sent rubber supplier Sri Trang Agro-Industry’s share price to a record high of S$1.75 this month; the counter fell S$0.04 or 2.9 per cent to close at S$1.36 on Tuesday. However, analysts said the demand for gloves has overshadowed the overall pain for the rubber industry.
Yeo Hiap Seng: William Adamopoulos, chief executive of Forbes Media Asia, has been named a non-independent and non-executive director of Singapore beverage company Yeo Hiap Seng. Shares of the mainboard-listed firm gained two Singapore cents or 2.4 per cent to finish at 85.5 cents on Tuesday, before the announcement.
OCBC Bank, Great Eastern: OCBC may be facing the prospects of a digital banking licence in Malaysia, if a deal made by its insurance arm in late June is anything to go by. Great Eastern, among the largest insurers in Malaysia, has moved to invest US$70 million in Axiata Digital's financial services business. Shares of the bank dropped S$0.03 or 0.3 per cent to close at S$9.16 on Tuesday, while Great Eastern lost S$0.19 or 1 per cent to S$19.59.
Hyphens Pharma International: The Catalist-listed stock climbed 50 per cent or S$0.16 to finish at S$0.48 on Tuesday, after announcing that its patent for Ceradan Advanced has been granted in the UK. Some 55.8 million shares changed hands during the day.