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Stocks to watch: China Environment, Keppel, Healthway Medical, Datapulse, Alpha Energy
THE following companies saw new developments which may affect trading of their shares on Monday:
China Environment: China Environment has given authorisation to a creditor of its wholly owned unit Anhui Dongyuan Environmental Protection Co to take over management of Anhui and to collect rental income at its property. In a filing with the Singapore Exchange on Monday, China Environment said that it has given Lin Qun Bin - who allegedly is owed a working capital loan of 6.47 million yuan (about S$1.28 million) - an authorisation letter to act on behalf of China Environment's legal representative in removing Anhui's current management and taking over management of Anhui.
Keppel Corp, Keppel Land: Keppel Corporation's property arm Keppel Land has entered into a joint venture with Indian property developer Puravankara Limited to buy a 3.09 hectare site in Bangalore and develop Keppel's first commercial development in India, the group announced on Monday morning. The two have entered into agreements through Keppel Puravankara Development (KPDL) to acquire the prime site in Yeshwantpur, Bangalore from Metro Cash and Carry India Private Limited (MCCIN) for about 4.05 billion rupees (S$81 million).
Healthway Medical Corporation: Healthway Medical Corporation is divesting its entire stake in the loss-making CLAAS Medical Centre in Singapore for S$150,000. Healthway's wholly owned subsidiary Unimedic has entered into a sale and purchase agreement on Sept 30 with Liew Kou Chuen to sell 499,993 shares in CLAAS, which represents Unimedic's entire 99.9 per cent stake.
Datapulse Technology: Datapulse Technology, a former media storage business now diversifying into haircare, announced a net profit of S$34.48 million for the full year ended July 31, 2018, up significantly from S$3.03 million a year ago. This surge was largely thanks to the S$44.55 million gain recognised from the disposal of its leasehold property, which gave a boost to the group’s other income.
Alpha Energy: Catalist-listed oil and gas firm Alpha Energy announced on Sunday that it is placing out 46 million new shares for S$0.1125 apiece to PrimePartners Corporate Finance to raise up to S$5.175 million. The issue price of S$0.1125 represents a discount of 10 per cent to the volume-weighted average price of S$0.125 for trades on Alpha Energy’s shares on Sept 12, which is the last full market day which the shares were traded prior to its trading halt.