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Stocks to watch: Broadway Industrial, Top Glove, Sembmarine, Starburst
THE following companies saw new developments that may affect trading of their securities on Tuesday:
Broadway Industrial Group: The mainboard-listed company on Tuesday said Seksun Technology (Suzhou) Co has made an offer to buy Broadway Industrial's hard disk drive business for US$50 million. Broadway Industrial's stock advanced 0.3 Singapore cent or 2.5 per cent to end at 12.4 cents on Monday.
Top Glove Corp: The Malaysian glove maker will suspend operations at its manufacturing facilities in Meru, Klang. This comes as 2,453 of its workers have tested positive for Covid-19, a Malaysian senior minister revealed on Monday. Shares of Top Glove rose S$0.01 or 0.4 per cent to close at S$2.39 before the news.
Sembcorp Marine (Sembmarine): Its shares rallied on Monday on relatively robust turnover, with analysts attributing the surge to "beaten down cyclicals", a rise in crude prices and broader vaccine optimism. Some think the latest leadership shifts at Keppel Corp may also be another factor pushing the stock up. Sembmarine shares gained 12.8 per cent or 1.7 Singapore cents to close at 15 cents.
Starburst Holdings: Its executive chairman Edward Lim has surrendered his travel documents to the Corrupt Practices Investigation Bureau (CPIB) as a condition of his bail, Starburst said on Monday after market close. CPIB is investigating Mr Lim and Starburst managing director Yap Tin Foo in relation to "corrupt transactions with agents", Starburst announced last week. Shares of the Catalist-listed firm lost 0.5 Singapore cent or 2.4 per cent to finish Monday at 20.5 cents.
Sing Holdings: The property developer has been awarded the executive-condominium site at Yishun Avenue 9, after it submitted the top bid of S$373.5 million, which works out to S$576 per square foot per plot ratio. The counter moved up by 1.4 per cent or 0.5 Singapore cent to 36.5 cents at Monday's close, before Sing Holdings' bourse filing.
SPH Reit: In a filing on Monday evening, its manager defended its decision not to disclose the salaries of its key management personnel in the real estate investment trust's latest annual report, in response to a query from the Singapore Exchange. SPH Reit units ended trading at S$0.82, up 0.5 cent or 0.6 per cent.
The Trendlines Group: The medtech startup incubator's wholly-owned subsidiary Trendlines Medical Singapore has renewed and expanded a memorandum of understanding with the National Healthcare Group to co-develop innovative healthcare solutions. Catalist-listed Trendlines' shares rose 3.3 per cent or 0.3 Singapore cent to close at 9.3 cents on Monday, before the announcement.