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Stocks to watch: CapitaLand, CRCT, Sarine Tech, JEP, UMS, Aoxin Q&M Dental, Eneco Energy

Photo 2_CapitaMall Aidemengdun.jpg
CapitaLand’s subsidiary and associated companies have entered into an agreement with CRCT to divest their interests in the three companies that hold three malls in China – CapitaMall Xuefu and CapitaMall Aidemengdun (pictured) in Harbin, and CapitaMall Yuhuating in Changsha.

THE following companies saw new developments that may affect trading of their shares on Tuesday:

CapitaLand and CapitaLand Retail China Trust (CRCT): CapitaLand announced on Tuesday morning that it will sell three shopping malls in China for 2.96 billion yuan (S$589.2 million) to CRCT. CapitaLand’s subsidiary and associated companies have entered into an agreement with CRCT to divest their interests in the three companies that hold three malls in China – CapitaMall Xuefu and CapitaMall Aidemengdun in Harbin, and CapitaMall Yuhuating in Changsha. The sale will generate for CapitaLand proceeds of around S$239.9 million and a net gain of about S$37.6 million. Meanwhile, to acquire the three companies, CRCT will spend around S$505.4 million, subject to post-completion adjustments. Shares of CapitaLand closed up four Singapore cents at S$3.31 on Monday, while units of CRCT closed flat at S$1.56.


Sarine Technologies: The mainboard-listed diamond technologies firm has launched a Sarine Diamond Journey Official Partners' programme which allows retailers to source from a certified group of suppliers and trace a diamond's journey in the supply chain online. The programme is based on verifiable imagery and information rather than declarative statements, and will have an initial group of 15 approved supplier partners. Sarine's shares closed down 1.56 per cent or S$0.005 at S$0.315 on Monday.


JEP Holdings and UMS Holdings: The independent financial adviser (IFA) for Catalist-listed JEP Holdings said on Monday after trading hours that the financial terms of the S$0.15 per share offer and the S$0.074 warrants offer by mainboard-listed precision engineering firm UMS Holdings’ are “not fair and not reasonable”. In a circular to JEP Holdings’ shareholders, IFA Provenance Capital advised independent directors to recommend that shareholders reject the offer and for warrant holders to take no action and let the warrants offer lapse. JEP shares closed up 0.67 per cent or S$0.001 at S$0.15, and UMS shares closed up 3.23 per cent or S$0.02 at S$0.64 on Monday.

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Aoxin Q&M Dental Group: The Catalist-listed group, which was spun off from Q&M Dental Group and listed in April 2017, said on Monday that it is intending to enter into revised non-compete agreements to allow Q&M Singapore Group to participate in projects in the Northern PRC Region and the group to participate in projects in the Southern PRC Region. Aoxin shares closed flat at S$0.19 on Monday.


Eneco Energy: Formerly known as Ramba Energy, the group on Monday appointed an independent external reviewer to investigate the circumstances around a payment made by a subsidiary of the company to an Indonesian broker. The identity of the independent investigator and the scope of the investigation will be decided by the company’s audit committee to be announced at a later date. Eneco shares closed down 5.56 per cent or S$0.004 at S$0.068 on Monday.