Stocks to watch: EC World Reit, SGX, ComfortDelGro, CDL, Digilife Tech

THE following companies saw new developments that may affect trading of their securities on Wednesday (Dec 29):

EC World Real Estate Investment Trust (EC World Reit): BWCU The Reit's potential purchasers have backed out of talks to potentially buy all of its properties, it's manager announced in a bourse filing on Tuesday night. When the potential deal was announced in May, at least 1 brokerage had upgraded its call on the stock to "trading buy" with a higher target price of S$0.83. Units of EC World Reit closed at S$0.80, down 0.6 per cent or S$0.005 before the announcement was made.

Singapore Exchange (SGX): S68 The local bourse operator announced on Tuesday that it has signed a memorandum of understanding (MOU) with its Chinese counterpart, the Shenzhen Stock Exchange (SZSE), to establish an exchange-traded fund (ETF) link. Under the MOU, SGX and SZSE will look to list feeder ETFs which link locally-listed ETFs to ones listed on the other exchange. SGX shares closed at S$9.38, up 0.9 per cent or S$0.08 on Tuesday before the announcement.

ComfortDelGro: C52 The transport operator announced that it will divest its 70 per cent shareholding in Vietnam Taxi Co to Helios Service and Investment Joint Stock Company. The company will receive 55 billion dong (S$3.3 million) for the transaction, which was arrived at on a "willing buyer willing seller" basis. Shares of ComfortDelGro closed at S$1.40, up S$0.02 or 1.5 per cent on Tuesday before the announcement.

City Developments Limited (CDL): C09 The property developer announced that it has appointed its current group chief strategy officer Kwek Eik Sheng to be the group's chief operating officer from Jan 1, 2022. CDL also announced that Philip Yeo Liat Kok will be redesignated as a non-independent director from Jan 1, 2022, having served more than 9 years on the board. CDL shares closed at S$6.78, up 0.9 per cent or S$0.06 before the announcements were made.

Digilife Technologies: BAI The Catalist-listed company announced in a bourse filing on Wednesday that it has entered into a sale and purchase agreement to acquire a 71 per cent stake in Stradbroke Investments, a Singapore company engaged in multiple industries including gold trading, fisheries, timber trading and property. Digilife Tech said it will fund the consideration amount of S$7.6 million by issuing 5.5 million shares to the seller, TG Holdings HK. The counter closed flat at S$1.39 on Tuesday before the announcement.

Trading halt: Koufu Group VL6 has called for a trading halt on Wednesday morning, pending the release of an announcement. Its shares closed at S$0.665, down S$0.01 or 1.5 per cent on Tuesday.