Stocks to watch: First Reit, Nordic Group, Tuan Sing, SP Corp

THE following companies saw new developments that may affect trading of their securities on Monday (Aug 22):

First Real Estate Investment Trust (First Reit) : On Monday it launched a tender offer to buy back S$60 million in Series 002 subordinated perpetual securities in cash, at 70 per cent of the principal amount. On top of this, First Reit will also pay the accrued - but unpaid - distribution on all securities accepted for sale. The counter ended Friday unchanged at S$0.28. Nordic Group : The systems integrations solutions provider on Friday reported a 49 per cent increase in H1 net profit to S$11.6 million from the S$7.8 million recorded in the previous corresponding financial period. Its revenue also jumped – rising 62 per cent to S$79.8 million from S$49.8 million previously, the mainboard-listed group reported in its business update for the first fiscal half ended Jun 30. Shares of the counter closed down 1.18 per cent or S$0.005 to S$0.420 on Friday, before the announcement was made.

Tuan Sing Holdings , SP Corporation : The investment holding company has proposed to acquire and privatise commodities trading group, SP Corporation via a scheme of arrangement. Tuan Sing believes that the proposed privatisation will allow its company and SP’s management to consolidate and optimise the use of their capital and management resources. Tuan Sing closed S$0.005 or 1.4 per cent down at S$0.365 and SP Corporation ended flat at S$0.59 on Thursday, before both counters called for trading halts on Friday morning. They resume trading on Monday.