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Stocks to watch: CDL, Yangzijiang, Casa, Riverstone, Chip Eng Seng, Geo Energy
THE following companies saw new developments that may affect trading of their shares on Tuesday:
City Developments Limited (CDL): CDL Investments New Zealand, the 66 per cent-owned subsidiary of City Developments Limited, said that sales at its development in South Auckland have "exceeded expectations". The first 44 lots of 45 in Stage 1 are already under contract, it said in a statement on Monday after market close. CDL shares closed at S$10.96 on Monday, down 0.3 per cent, or three Singapore cents.
Yangzijiang Shipbuilding: China's largest non-state owned shipbuilder's shares received a much needed boost on Monday, with executive chairman Ren Yuanlin's return to office after a four-month absence. The counter closed seven Singapore cents or 6.5 per cent higher at S$1.14 on a volume of 70.7 million, making it the Straits Times Index's most active counter in an otherwise ho-hum session.
Casa Holdings: Mainboard-listed Casa Holdings, which distributes home appliances and develops properties in Malaysia, said on Monday night that "there is nothing much the company can do" about the qualified audit opinion issued by auditor Nexia TS. Shares of Casa last traded at 5.6 Singapore cents on Dec 16.
Riverstone Holdings: The mainboard-listed firm, which manufactures cleanroom and healthcare gloves, has acquired a piece of industrial land in the state of Perak, Malaysia. Riverstone will pay RM4.2 million (S$1.37 million) for the plot, which measures about 165,692 sq ft. The counter fell 1.5 Singapore cents or 1.6 per cent to S$0.92 on Monday, before the announcement.
Chip Eng Seng: Chip Eng Seng has agreed to extend a US$4.95 million convertible loan to Israel's Cybint Group, it said on Monday evening. Chip Eng Seng will provide the loan to Cybint International, a newly-incorporated company in Singapore, on an interest-free basis. Its shares rose half a Singapore cent or 0.82 per cent to S$0.615 on Monday.
Geo Energy Resources: The Indonesian coal miner has repurchased US$16.1 million in principal amount of the 8 per cent senior notes issued by its wholly-owned unit Geo Coal International. The notes were repurchased in a series of open-market transactions from Dec 5 to Dec 20 for a sum of US$10.7 million, including accrued interests. The counter closed flat at S$0.145 on Monday.
Mercurius Capital Investment: The Catalist-listed company has secured a S$1 million convertible loan from existing investor Teo Soon Seng, it said in a filing late on Monday night. The loan is convertible into shares at a conversion price of S$0.10 apiece, subject to adjustments. Mercurius shares closed at S$0.049 on Monday, up 0.4 Singapore cent or 8.9 per cent.
LHN Limited: Catalist-listed LHN Limited has successfully re-tendered for the tenancy at the 1557 Keppel Road property, it said on Monday after trading hours. This will allow LHN Properties to continue its space optimisation business at the site upon expiration of its existing tenancy on Dec 31. LHN shares last traded at S$0.126 on Dec 18, up 0.8 per cent or 0.1 Singapore cent.
IEV Holdings: Catalist-listed IEV Holdings, which provides engineering solutions to the oil and gas sector, plans to raise gross proceeds of S$3.8 million by issuing 76 million new shares to three parties at S$0.05 apiece, it said on Monday. Trading in shares of IEV will resume on Tuesday morning. Trading had been halted after its shares closed 5.66 per cent lower at S$0.05 last Friday.