Stocks to watch: Koufu, Hatten Land, Yoma, Biolidics, Lippo Malls Indonesia Retail Trust

Paige Lim

Published Thu, Dec 30, 2021 · 08:36 AM

THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 30):

Koufu Group: VL6 The food and beverage giant’s founding shareholders on Wednesday proposed to privatise the company at S$0.77 per share in cash through a voluntary conditional offer. The offer values the food court operator at S$425.8 million, which is 15 times Koufu’s pre-pandemic FY2019 earnings and 43 times its FY2020 earnings. Its shares resume trading on Thursday after it called for a trading halt on Wednesday morning.

Hatten Land: PH0 : PH0 0%The Malaysian property developer said in response to queries from the Securities Investors Association (Singapore) that it will only commence crypto mining activities in January 2022 as supply chain disruptions have led to a delay in the delivery of crypto mining rigs. The recent tightening of border control measures due to Covid-19 has also led to a hold-up in the deployment of technical personnel from Singapore to Melaka, said the Catalist-listed company in a bourse filing on Thursday. The counter closed down S$0.001 or 1.9 per cent to S$0.053 on Wednesday, before the announcement.

Yoma Strategic: Z59 Philippine conglomerate Ayala Corp will take up a 20.2 per cent stake in Myanmar-focused Yoma Strategic, after the latter's second tranche of placement shares was restructured into a perpetual loan which can only be redeemed by way of allotment and issuance of ordinary shares in the capital of Yoma. The redemption shares will be issued at S$0.45 per share, with the restructured loan having a principal amount of US$49.1 million. Shares of Yoma Strategic closed up S$0.001 or 0.8 per cent at S$0.132 on Wednesday, before the announcement.

Biolidics: 8YY The Catalist-listed medtech firm announced on Wednesday that its wholly-owned subsidiary, Biomedics Laboratory, has been granted approval by the Ministry of Health to provide medical microbiology services, including Covid-19 polymerase chain reaction (PCR) tests. Its shares closed up S$0.006 or 3.5 per cent at S$0.1790 on Wednesday, before the announcement.

Lippo Malls Indonesia Retail Trust: D5IU The manager announced on Wednesday in a bourse filing that it was granted a waiver of the requirement to maintain the ratio of consolidated net property income to consolidated interest expense of not less than 2.5 to 1, under 3 of its loan facilities. Units of the trust closed flat at S$0.055 on Wednesday before the announcement was made.