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Stocks to watch: Eu Yan Sang, Cordlife, Lum Chang, firms linked to 2013 penny-stock crash
THE following stocks have had news or developments that may influence their trading on Tuesday.
Eu Yan Sang: A consortium led by a UOB-backed fund, a Temasek Holdings unit and Eu Yan Sang's group chief executive officer Richard Eu has launched a takeover bid with the goal of delisting the traditional Chinese medicine retailer, offering S$0.60 per share. Eu Yan Sang's shares fell three Singapore cents to S$0.615 on Monday after its trading halt was lifted.
Cordlife Group: More discord at Cordlife could be on the cards. Ending weeks of silence, Jeremy Yee, who abruptly vacated his seat in March as chief executive of the group, has claimed he decided to step down as he was faced with two options set by the private cord-blood banking firm - to leave or be removed. He claimed he had not been offered the opportunity to renegotiate his employment contract, contrary to Cordlife board's remarks a week ago at a shareholder dialogue organised by the Securities Investors Association (Singapore).
Lum Chang Holdings: The construction company has tied up with Bursa-listed Tien Wah Press Holdings Berhad (TWPH) through a joint venture (JV) to undertake a mixed-use development in Malaysia. The JV has agreed to acquire a piece of land from a TWPH unit for RM63.75 million (S$21.7 million) and will own, manage and develop the mixed-use project.
Stocks linked to 2013 penny crash: The shares of several companies linked to the 2013 penny-stock crash jumped on Monday amid heavy volumes, leaving traders mystified about who was doing the buying. These included Attilan Group, the investment company formerly known as Asiasons Capital; mining and resources company Blumont Group; Magnus Energy, an energy equipment and production company; and investment firm ISR Capital.