Stocks to watch: Hotel Grand Central, Singapore Medical Group

Michelle Zhu

Published Fri, Aug 20, 2021 · 08:15 AM

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

Hotel Grand Central H18: Through its wholly owned unit, it has sold Hotel Grand Chancellor in Australia for A$10.9 million (S$10.6 million) in cash to a third party. In a regulatory filing on Thursday evening, the group said this allows it to realise its investment in this property which "had not been performing well and had a challenging outlook". Prior to its announcement, shares of Hotel Grand Central closed up S$0.01 or 1 per cent at S$1.03.

Singapore Medical Group 5OT (SMG): It has proposed to acquire the 50 per cent stake it does not own in its joint-venture company, SMG International Vietnam, for S$3.04 million as part of plans to expand in Vietnam amid rising private healthcare demand. This will entitle the Catalist-listed group to an effective ownership of 42 per cent in CityClinic Asia Investments which operates three medical centres in Ho Chi Minh City, said SMG in a bourse filing on Thursday. SMG shares ended the day down S$0.01 or 3.1 per cent at S$0.31, before the announcement.