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Stocks to watch: Frasers Property, The Hour Glass, FSL Trust, BlackGold
THE following companies saw new developments that may affect trading of their securities on Thursday:
Frasers Property: The property developer will be redeeming S$700 million of 5 per cent subordinated perpetual securities on March 9, which is the first coupon reset date, it said on Thursday. Frasers Property shares closed flat at S$1.65 on Thursday on an ex-dividend basis, before the announcement.
The Hour Glass: The luxury watch retailer is expanding to New Zealand through the acquisition of Auckland-based Mansors Jewellers and two freehold Auckland properties for more than NZ$80 million (S$70.9 million), it said on Thursday. Shares of The Hour Glass closed up S$0.01 or 1.3 per cent to S$0.765 on Wednesday.
First Ship Lease (FSL) Trust: The business trust swung back into the black with a net profit of US$3.5 million for the fourth quarter, versus a US$18.5 million loss previously, on the back of improved charter rates. FSL Trust leases ocean-going vessels to the international shipping industry. The counter closed at S$0.059 on Wednesday, down 1.5 Singapore cents or 20.3 per cent before the announcement.
BlackGold Natural Resources: The Catalist-listed coal mining company said on Wednesday that it is looking to raise up to S$25 million by issuing interest-free convertible bonds to three investors, to finance new plans for the business. The company had on Feb 3 requested to suspend trading in its shares. It will resume trading on Thursday at 9am. BlackGold shares last traded at S$0.015 on Jan 28.
Renaissance United: The group on Wednesday said its operations based in the Hubei province have been temporarily disrupted due to the lockdown imposed by the Chinese government on cities within Hubei and numerous other provinces since Jan 23. The counter last traded at S$0.001 on Feb 4.
Debao Property Development: The mainboard-listed property developer on Wednesday said it has applied for more time to release its financial results as some of its employees in the finance team have been affected by travel restrictions within China amid the virus outbreak. The group's shares closed flat at S$0.07 on Wednesday before the announcement.
LifeBrandz: The company disclosed on Wednesday in response to queries from the Singapore Exchange that some 282 shareholders will end up with nothing under the company's proposed 50-to-1 share consolidation as they currently own fewer than 50 shares. LifeBrandz had proposed the share consolidation last week, in hopes of reducing the volatility of its share price and fluctuations in its market capitalisation. LifeBrandz shares closed at S$0.004 on Wednesday, up 0.1 Singapore cent or 33.3 per cent.