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Stocks to watch: CapitaLand, Japfa, Accordia Golf Trust, Q&M Dental, UnUsUaL
THE following companies saw new developments that may affect trading of their securities on Monday:
CapitaLand: CapitaLand on Monday said it expects the group's total profit after tax and minority interests for the six months ended June 30, 2020 to be "materially and adversely" affected, based on preliminary estimates. The counter closed at S$3.04 on Friday, up S$0.03 or 1 per cent on a cum-dividend basis.
Japfa: Agri-food company Japfa on Friday closed the sale of a 25 per cent stake in AustAsia Investment Holdings, which operates the group's dairy farming business in China, to Japan's Meiji. Japfa shares fell one Singapore cent or 1.5 per cent to close at 66.5 cents on Friday, before the announcement.
Accordia Golf Trust (AGT): The price offered by AGT's sponsor to buy over the trust's golf courses is too low, as these assets generate "significantly attractive cash flow", AGT's largest minority unitholder, Hibiki Path Advisors, argued in an open letter. AGT units closed unchanged at S$0.69 on Friday.
Q&M Dental Group: A wholly-owned subsidiary of Q&M Dental Group on Friday completed its acquisition of Covid-19 test kits and related business from biotech company Acumen Research Laboratories, Q&M said in a bourse filing late on Sunday. Q&M shares ended Friday at 44 Singapore cents, down 0.5 cent or 1.1 per cent.
UnUsUaL: Although the event producer's revenue stream has faltered, its costs are down and it has not had to worry about layoffs or cash concerns so far, UnUsUaL's chief executive told The Business Times. The counter closed flat at 13.2 Singapore cents on Friday.
Biolidics: Catalist-listed Biolidics issued a statement on Friday to explain why its deal with Aytu BioScience to distribute its novel coronavirus antibody test kits in the US has now been scrapped. The counter closed at 32 Singapore cents on Friday, up 0.5 cent or 1.6 per cent, before this announcement.
Miyoshi: Components manufacturer Miyoshi expects to report a loss for the third quarter of FY2020, compared to a profit in the year-ago period. Shares of Miyoshi ended at 3.7 Singapore cents on Friday, up 0.1 cent or 2.8 per cent, before its profit guidance statement was issued.
Darco Water Technologies: Darco's audit committee has recommended that its deputy chairman consider abstaining from deliberations and decisions on a controversial Indonesian waste-management project that he has reportedly been pushing for Darco to invest in. Shares of Darco ended flat at S$0.16 on Friday before this announcement.
Trading halt: Mainboard-listed engineering firm Tee International requested a trading halt on Monday morning before the market opened, pending the release of announcements. The counter closed flat at S$0.03 on Friday.