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Stocks to watch: CapitaLand, ST Engg, Soilbuild Reit, Q&M Dental, Tee International
THE following companies saw new developments that may affect trading of their securities on Wednesday:
CapitaLand: The property giant said on Wednesday that it has obtained two green loans amounting to S$400 million. Proceeds from these green loans will be used for financing or refinancing of the development, investment and acquisition of certified green buildings. CapitaLand shares were trading at S$2.95 as at 9.14am on Wednesday, down S$0.03 or 1 per cent.
ST Engineering: Economic Development Board chairman Beh Swan Gin will step down as ST Engineering's independent non-executive director due to "other commitments", the company said in a bourse filing on Tuesday. He will do so at the company's upcoming annual general meeting, which has been postponed to a future date to be determined due to the Covid-19 situation. Shares of ST Engineering closed at S$3.38 on Tuesday, up S$0.14 or 4.32 per cent before the announcement.
Soilbuild Business Space Reit (Soilbuild Reit): The Reit on Tuesday said it had completed the divestment of its property at 72 Loyang Way and the mechanical and electrical equipment within, for about S$33.1 million. As at 9.19am on Wednesday, units in Soilbuild Reit were trading at S$0.38, up S$0.01 or 2.7 per cent.
Q&M Dental Group: The mainboard-listed company is reclassifying the special dividend and final dividend to be paid out to shareholders for the 2019 financial year into a second interim dividend. Doing so provides certainty to its dividend payment's date, as its annual general meeting date for FY2019 remains uncertain. Q&M shares closed flat at S$0.38 on Tuesday before the announcement.
Tee International: The engineering group sunk into the red with a net loss of S$4.1 million for its third quarter ended Feb 29, 2020, compared with a net profit of S$435,000 a year ago. Cost of sales increased by S$5.1 million in the infrastructure businesses and engineering projects, resulting in an overall gross loss position, the company said in a bourse filing late Tuesday evening. Shares of Tee International closed up 0.1 Singapore cent or 4.3 per cent to 2.4 cents on Tuesday before the announcement.
Manulife US Reit: The Reit is reverting to a group structure largely similar to the one it adopted at the time of its listing in 2016 after ascertaining it will suffer no meaningful adverse impact stemming from changes in the US tax regulations, it said on Tuesday. The impact of this reversion would be negligible for this fiscal year due to the compliance and restructuring costs already incurred. Units of Manulife US Reit rose 1.5 US cents or 2.1 per cent to 73 cents at Tuesday's close.
Singapore Airlines (SIA): The airline's extraordinary general meeting for shareholders to vote on its proposed rights issue will be convened on April 30 at 11.30am, it said on Wednesday. SIA shares rose S$0.12 or 2 per cent to end trading at S$6.25 on Tuesday.
Nam Cheong: The Malaysian offshore vessel builder's financial statements have been given a disclaimer of opinion by its independent auditors over the company's liabilities and ability to continue as a going concern. In March, the group had said that it had sufficient resources to meet its obligations for at least 12 months from the end of the financial year. Shares of Nam Cheong traded flat at 0.5 Singapore cent at Tuesday's close. before the announcement
DLF Holdings: The catalist-listed engineering firm said its provisional financial controller quit less than three months into the job only because the demands of the role were "not within his expectations". There were no disagreements between the provisional financial controller and the board, DLF said on Tuesday, in response to queries from the Singapore Exchange. The counter traded flat at 18.5 Singapore cents at Tuesday's close before the announcement.
Trading halt: Sim Leisure and Japfa both called for trading halts on Wednesday morning, citing upcoming announcements. Sim Leisure shares traded at 22 Singapore cents before the halt, while shares of Japfa traded at 51 Singapore cents.