Stocks to watch: First Reit, SLB Development, Lian Beng

Paige Lim

Published Fri, Jan 7, 2022 · 08:51 AM

THE following companies saw new developments that may affect trading of their securities on Friday (Jan 7):

First Real Estate Invest Trust (First Reit): AW9U The independent directors of First Reit's manager have recommended unitholders to vote in favour of the proposed acquisition of 12 Japan nursing homes from OUE Lippo Healthcare, as well as a separate S$30.6 million settlement for cancelled works. This comes after independent financial adviser Stirling Coleman Capital advised First Reit's independent directors, and the audit and risk committee to recommend that unitholders approve the transactions, on the basis that the acquisition and settlement are both on normal commercial terms. First Reit's units closed flat at S$0.315 before the announcement on Thursday.

SLB Development, Lian Beng Group: 1J0 L03 Catalist-listed property developer SLB announced in a Thursday bourse filing that it anticipates a "significant" year-on-year increase in net profit for H1 2022 ended November. This is mainly due to substantial sales of units in its projects, with contributions recognised as construction progressed, SLB said. However, parent company Lian Beng said it still expects its overall performance for the half-year to be lower than for the previous year, as a result of continued challenges amid the pandemic. Lian Beng Group will release its financial results on or before Jan 14. SLB's shares closed flat at S$0.12, while Lian Beng's shares closed at S$0.545, up S$0.005 or 0.9 per cent on Thursday, before the announcement.

Trading halts:

iFast Corporation AIY, Advanced Holdings BLZ and Nordic Group MR7 separately called for trading halts on Friday, pending announcements. On Thursday, iFast closed 1.1 per cent or S$0.09 lower at S$8.17, Advanced Holdings ended 2.3 per cent or S$0.002 higher at S$0.09, while Nordic Group finished 1.2 per cent or S$0.005 higher at S$0.415.Corporation AIY, Advanced Holdings BLZ and Nordic Group MR7 separately called for trading halts on Friday, pending announcements. On Thursday, iFast closed 1.1 per cent or S$0.09 lower at S$8.17, Advanced Holdings ended 2.3 per cent or S$0.002 higher at S$0.09, while Nordic Group finished 1.2 per cent or S$0.005 higher at S$0.415.Corporation AIY, Advanced Holdings BLZ and Nordic Group MR7 separately called for trading halts on Friday, pending announcements. On Thursday, iFast closed 1.1 per cent or S$0.09 lower at S$8.17, Advanced Holdings ended 2.3 per cent or S$0.002 higher at S$0.09, while Nordic Group finished 1.2 per cent or S$0.005 higher at S$0.415LZ and Nordic Group MR7 separately called for trading halts on Friday, pending announcements. On Thursday, iFast closed 1.1 per cent or S$0.09 lower at S$8.17, Advanced Holdings ended 2.3 per cent or S$0.002 higher at S$0.09, while Nordic Group finished 1.2 per cent or S$0.005 higher at S$0.415.

Catalist-listed engineering group Starburst Holdings has also requested a trading halt. Its shares closed flat at S$0.235 on Thursday.