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Stocks to watch: HRnetGroup, Cache Logistics Trust, China Everbright, OUELH
THE following companies saw new developments which may affect trading of their shares on Tuesday:
HRnetGroup: Mainboard-listed recruitment firm HRnetGroup disclosed on Monday that it owns a 2 per cent stake in Harvey Nash, a professional recruitment and information technology (IT) outsourcing company listed on the London Stock Exchange that has received a takeover offer from entities controlled by asset management firm DBAY Advisors. As at Aug 7, when the takeover offer was announced, HRnetGroup owned a 2 per cent stake in Harvey Nash.
Cache Logistics Trust: ARA Asset Management, the manager of Cache Logistics Trust, has raised its stake in the warehouse owner to 9.21 per cent through a married deal with Cache's sponsor CWT. CWT, which was acquired by the Chinese HNA Group last year, sold all its 43.66 million units in Cache to ARA for S$0.74 per unit on Aug 30, according to an exchange filing on Monday. The sale lifts ARA's stake in Cache from 5.14 per cent to 9.21 per cent.
China Everbright Water: Singapore-listed China Everbright Water said on Monday that three of its projects have recently commenced operation. The Ji'nan Huashan Waste Water Treatment Project in Ji’nan City, the group's first full-underground waste water treatment project, commenced operation in August, eight days ahead of the contracted commencement date, it said. The Ji’nan Sludge Treatment Project has also recently commenced operation, 46 days ahead of the contracted commencement date.
OUE Lippo Healthcare: OUE Lippo Healthcare has been served with court documents by its former executive director, Lim Beng Choo, following Ms Lim's commencement of court proceedings against the company on Aug 15, 2018, over unpaid dues. According to OUE Lippo's filing before Tuesday's market open, Ms Lim is claiming for a sum of S$90,000, being the alleged aggregate of her three months' salary in lieu of notice, a sum of S$72,000 being the alleged encashment of her unconsumed leave, and further damages to be assessed in respect of her alleged constructive dismissal by OUE Lippo.
Pine Capital Group has requested a trading halt pending the release of an announcement.