Stocks to watch: CapitaLand, Qian Hu, Interra

Jeanette Tan

Published Mon, Jul 19, 2021 · 08:40 AM

THE following companies saw new developments that may affect trading of their securities on Monday:

CapitaLand Limited C31: The property giant's proposed split of its investment arm (and privatisation of its property arm) received an endorsement from an independent financial adviser, Evercore Asia, which said the value of the deal is "fair and reasonable" from a financial point of view. Should shareholders and regulators give the go-ahead, Capitaland is expected to complete the deal around mid-September 2021. The counter last closed at S$3.81 on July 16.

Qian Hu Corporation BCV: The mainboard-listed fish service provider announced on Friday it had returned to profitability in H1 2021 with a net profit of S$856,500, versus a more than S$500,000 loss over the same period last year. This came on the back of a 19.5 per cent rise in revenue to S$39.7 million, with a sustained recovery in its ornamental fish and aquaculture business, as well as sales of aquarium and pet accessories returning to pre-pandemic levels. Qian Hu shares closed up two Singapore cents or 9.8 per cent at 22.5 cents on Friday before the results release.

Interra Resources 5GI : The petroleum exploration company said on Friday night that it has reached an agreement with the Myanma Oil and Gas Enterprise - Myanmar's national oil and gas company - to resume operations at Myanmar's Chauk and Yenangyaung fields amid civil disobedience in the country. Its shares closed 0.1 Singapore cent or 2.4 per cent down at Friday's market close at 4.1 cents.