Stocks to watch: ComfortDelGro, EC World Reit, SPH Reit, mm2 Asia

THE following companies saw new developments that may affect trading of their securities on Monday (Jan 10):

ComfortDelGro C52: The transport operator announced in a bourse filing on Monday that its subsidiary ComfortDelGro MedCare (CDG MedCare) is acquiring a 90 per cent stake in wheelchair transport service provider Ming Chuan Transportation for S$8.5 million. The acquisition will allow CDG MedCare to expand its specialised medical escort and transport services for the elderly and persons with mobility needs, said ComfortDelGro. Its shares closed at S$1.36, down S$0.03 or 2.2 per cent on Friday before the announcement.

EC World Real Estate Investment Trust (EC World Reit) BWCU: The Chinese government is planning to expropriate Fu Zhuo Industrial, EC World Reit's port property located in Hangzhou, China, to develop the Grand Canal National Cultural Park in Hangzhou, the manager of the Reit said on Monday. The Reit is entitled to receive compensation based on the expropriation valuation of the property, according to the notice of expropriation. Units of EC World Reit closed flat at S$0.76 on Friday.

SPH Reit SK6U: Its manager disclosed in a quarterly update on Friday that the real estate investment trust recorded an occupancy rate of 98.8 per cent as at end-November. This marks an improvement from its 97.9 per cent occupancy rate a year ago. Units of SPH Reit closed at S$0.98 on Friday, down 0.5 per cent, before the announcement.

mm2 Asia 1B0: The owner of Cathay announced in a bourse filing on Friday (Jan 7) that the long-stop date of the agreement for the possible merger of the Cathay Cineplexes and Golden Village cinema businesses had lapsed on Dec 31. The update comes days after mm2 announced that its planned sale of the cinema business to local investment firm Kingsmead Properties had fallen through. The counter closed at S$0.051 on Friday, down 1.9 per cent, before the announcement.

Trading halt: Wealth management platform iFast Corporation AIY has called for a trading halt on Monday morning, pending an announcement. The counter closed at S$7.85, down 3.9 per cent or S$0.32, on Friday after announcing that it was looking to acquire an 85 per cent stake in a UK digital bank.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Mainboard-listed investment firm GK Goh G41 : G41 0% has also called for a trading halt on Monday morning, pending an announcement. The counter last closed flat at S$1.17.