Stocks to watch: CDL, Parkway Life Reit, Golden Energy, No Signboard, Top Glove

THE following companies saw new developments that may affect trading of their securities on Monday (Dec 13):

City Developments Limited (CDL): C09 : C09 0%The property group plans to sell the Millennium Hilton Seoul and its adjoining land plot in South Korea for 1.1 trillion won (S$1.26 billion). CDL said on Monday that the proposed divestment is "in line with the acceleration of the CDL group's capital recycling strategy to unlock latent value from its long-held assets". Shares of the counter closed down 0.6 per cent or S$0.04 at S$6.99 on Friday (Dec 10) before the announcement.

Parkway Life Real Estate Investment Trust (Parkway Life Reit): C2PU The Reit is buying a nursing home in Japan's Greater Tokyo Region for 3.2 billion yen (S$38.4 million), the manager announced on Friday. The counter closed on Friday at S$5.07, up by S$0.03 or 0.6 per cent, before the announcement.

Golden Energy and Resources (Gear): AUE The mainboard-listed miner plans to consolidate its stake in the majority owner of a key Australian subsidiary, for US$30 million. Gear shares closed on Friday at S$0.31, down by half a Singapore cent or 1.6 per cent, before the announcement.

No Signboard: 1G6 The Catalist-listed restaurant operator has reiterated that litigation over beer deliveries will not materially affect its financial position and ability to do business.The counter closed flat on Friday at 3.5 Singapore cents, before the latest update.

Top Glove Corporation: BVA The glovemaker posted a net profit of RM185.7 million (S$60.1 million) for the first quarter of fiscal year 2022 ended November, down from earnings of RM2.4 billion in the corresponding quarter last year. Shares of Top Glove ended Friday at S$0.705, down 9.6 per cent or S$0.075.

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United Global: 43P The Catalist-listed lubricant manufacturer is facing a privatisation bid that values the company at some S$142.3 million, according to an offer announcement on Friday. The offer price marks a premium of 12.5 per cent to the last traded price of S$0.40, before United Global called a trading halt on Dec 9, and a premium of 16.2 per cent over the 6-month volume-weighted average price of the stock.