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Stocks to watch: C&G, Soilbuild Business Space Reit, QAF

THE following companies saw new developments that may affect trading of their shares on Friday:

C&G Environmental Protection Holdings: The mainboard-listed company has entered into a S$400 million proposed deal with Param Mitra Coal Resources that will result in a reverse takeover of the former by India's Sainik-Aryan Group. The Sindhu family owns leading India-based coal, logistics and power player Sainik-Aryan Group that backs and manage Param Mitra Coal Resources.

In a post-market announcement on Thursday, C&G, now a cash company, said it "believes that the proposed transaction will provide an opportunity for the company to remain listed and to acquire a new business that has potential for growth".

Soilbuild Business Space Reit: The trustee of the Reit has signed a put and call option agreement to divest to SB (Pioneer) Investment its Tuas property, commonly known as KTL Offshore after its tenant, for S$55 million. The buyer is a wholly owned subsidiary of Soilbuild Group Holdings, which is the sponsor of Soilbuild Reit.

QAF: Breadmaker QAF has decided to cease its bakery operations in China as they continue to be loss-making. The Chinese bakery operations are undertaken through a 55 per cent held subsidiary of the group, with the remaining 45 per cent held by a company in which controlling shareholder Lin Kejian has an interest.

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Separately, QAF announced that its group financial controller, Derrick Lum, will resign with effect from Dec 29, 2017, "to attend to personal commitments". Mr Goh Kiat Chiang, a former financial controller at M&L Hospitality, will replace Mr Lum.

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