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Stocks to watch: CapitaLand, MCT, Perennial, Frasers Property, UOL, Top Glove
THE following companies saw new developments that may affect trading of their shares on Tuesday:
CapitaLand, Mapletree Commercial Trust (MCT), Perennial Real Estate Holdings, Frasers Property, UOL: Commercial landlords and their tenants are at odds over the property tax rebate intended for landlords to pass on to renters. The Restaurant Association of Singapore fired the first salvo on Monday, calling out landlords for not delivering on their publicly announced rental rebates for food and beverage operators. CapitaLand shares closed at S$3.54 on Monday, up S$0.01 or 0.3 per cent; MCT closed at S$2.14, up S$0.04 or 1.9 per cent; Perennial finished at S$0.50, up S$0.01 or 2 per cent; Frasers Property closed flat at S$1.53; while UOL shares ended unchanged at S$7.37.
Top Glove: Malaysia-based Top Glove, which is listed on both Malaysian and Singapore stock exchanges, has settled legal actions that it was embroiled in with Adventa Capital on both sides of the Causeway. Top Glove closed unchanged at S$1.85 on Monday, before the settlement announcement was made.
Keppel Corporation: Keppel Corp on Tuesday said its subsidiary, Keppel Capital Senior Living, has completed the acquisition of a 50 per cent stake in US senior housing operator Watermark Retirement Communities. The counter closed at S$6.41 on Monday, up S$0.07 or 1.1 per cent.
Aoxin Q&M Dental Group, Luzhou Bio-Chem Technology: Chinese authorities have granted approval to two Singapore-listed companies to resume their operations which had been put on hold last month amid the coronavirus outbreak. Catalist-listed Aoxin Q&M Dental Group has reopened eight of its 17 dental centres in Liaoning province. Shares of Aoxin Q&M last traded at S$0.15 on Feb 27. Meanwhile, mainboard-listed corn refiner Luzhou Bio-Chem Technology will restart production across its manufacturing plants from March 5. Shares of watch-listed Luzhou Bio-Chem last changed hands on Jan 20 at 1.5 Singapore cents.
Nam Cheong: Malaysian offshore vessel builder Nam Cheong has won chartering contracts for six offshore support vessels worth RM116.4 million (S$38.5 million), inclusive of options to extend. Shares of Nam Cheong closed up 0.1 Singapore cent or 16.7 per cent to 0.7 cent on Monday.
Accrelist, Jubilee Industries Holdings: The executive chairman of Accrelist and Jubilee, along with two Jubilee senior management were requested to assist with Corrupt Practices Investigation Bureau investigations on Feb 25, the Catalist-listed companies announced separately on Tuesday. Accrelist shares last traded at 4.6 Singapore cents on Feb 28, while Jubilee shares last traded at five Singapore cents on Feb 27.