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Stocks to watch: DBS, Eu Yan Sang, China Sky Chemical Fibre, International Healthway
DBS Group: DBS reported on Monday that its net profit for the second quarter of 2016 was S$1.05 billion, down 6 per cent from a year ago due to a net allowance charge of S$150 million for DBS' exposure to the Swiber group.
Eu Yan Sang: Eu Yan Sang on Monday warned that the offeror is not entitled to compulsorily exercise shares still held by minority shareholders, and shareholders who have not accepted the offer are likewise not entitled to exercise any rights to require the offeror to acquire their shares. All acceptances of the offer must be received no later than 5:30pm on Aug 15, 2016.
With the public float of its shares having fallen below the minimum free float requirements of 10 per cent, the Singapore Exchange may suspend the trading of the shares after the close of the offer, it said.
China Sky Chemical Fibre: The firm on Monday requested a trading halt with immediate effect. In a filing to the Singapore Exchange (SGX), under "reasons for trading halt", the chemical fibres manufacturer said: "Pending company's response to SGX's queries on whether there are any unannounced lawsuits. The board of directors of the company is in the process of ascertaining the state of affairs of the company and whether the company is able to operate as a going concern."
International Healthway Corporation: IHC on Monday said that its receivers have tried to remove Jong Hee Sen and Lim Beng Choo as directors of the troubled company's affected subsidiaries, but these removals have been resisted.