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Stocks to watch: iFast, Trendlines, AGT, CDLHT, Creative, ISEC Healthcare, GS Holdings
THE following companies saw new developments that may affect trading of their securities on Friday:
iFast Corporation: The mainboard-listed fintech firm on Friday said it has led a consortium with two China partners Yillion Group and Hande Group to apply for a Singapore digital wholesale bank licence. iFast shares last traded at S$1.040 on Dec 30, 2019, up one Singapore cent or 1 per cent before the announcement.
The Trendlines Group: The startup incubator on Thursday said that it is currently in discussions "relative to potential exits for multiple portfolio companies", and that the talks are "at various stages" with no agreements signed yet. This was in response to queries from the Singapore Exchange on its unusual price movements. The stock price jumped 27 per cent to hit a one-year high of S$0.122 on Thursday on an abnormally high volume of 46.3 million shares before the announcement.
Accordia Golf Trust (AGT): Its trustee-manager will commission a valuer to assess the value of its golf courses and the golf courses' holding company, AGT said in response to queries from the Singapore Exchange on Thursday. SGX noted that the 63.17 billion yen (S$783 million) offer from AGT's parent company, Accordia Golf Co, was lower than the net asset value of 65.53 billion yen indicated in AGT's results for the second quarter ended Sept 30, 2019. Units of AGT closed up S$0.015 or 2.2 per cent to S$0.685 on Thursday.
CDL Hospitality Trusts (CDLHT): The stapled group's two proposed hotel transactions are on normal commercial terms and "not prejudicial" to its securityholders' interests, according to the independent financial adviser on Friday morning. The independent directors of CDLHT's managers have also recommended that the securityholders vote in favour of both deals at the upcoming extraordinary general meetings on Jan 23. The counter was trading flat at S$1.63 as at 9.02am on Friday.
Creative Technology: The multimedia company on Thursday said it will be launching its new Super X-Fi Gen2, an improved version of the Super X-Fi audio profile which caused its stock price to spike in 2018, at consumer technology trade show CES 2020 from Jan 7 to 10, 2020. Creative shares ended at S$3.24 on Thursday, up seven Singapore cents or 2.2 per cent before the announcement.
ISEC Healthcare: The Catalist-listed firm's chief financial officer, Macy Thong, has quit with effect from Jan 31 this year. ISEC Healthcare ended flat at 35.5 Singapore cents on Thursday before the announcement.
GS Holdings: The dishware washing firm on Thursday night said its executive chairman Pang Pok has been redesignated as chief executive officer and executive director, effective Jan 1, 2020. GS Holdings closed at 74 Singapore cents on Thursday, up 0.7 per cent, or 0.5 Singapore cent, before the announcement.
Cheung Woh Technologies: The hard disk drive manufacturer on Thursday evening said that it expects to report a loss after taxation for its third quarter ended Nov 30, 2019, mainly due to low turnover and the fact that there was no significant other operating income recorded during the quarter. The counter closed at S$0.152 on Thursday, up 0.1 Singapore cent or 0.7 per cent.
Willas-Array Electronics (Holdings): The electronic components distributor on Thursday said it expects to record a consolidated net loss for the period ended Dec 31, 2019 compared to a year ago, based on a preliminary assessment of its unaudited consolidated management accounts for the nine months ended Dec 31, 2019. Wills-Array shares closed at S$0.49 on Thursday, up three Singapore cents or 6.5 per cent before the announcement.
MeGroup: The Malaysian-based automotive company on Thursday said it has accepted a letter of offer from Mitsubishi Motors Malaysia, the official distributor of the Mitsubishi Motors brand of cars in Malaysia, to set up and run a 3S automobile dealership under the brand. MeGroup shares last traded on Dec 23 at S$0.22, up 0.5 Singapore cent or 2.3 per cent.
Alliance Healthcare Group: The group on Thursday said it is one of two successful applicants which has been awarded a contract via a public tender to provide managed healthcare solutions to 38 companies, including major healthcare institutions such as Changi General Hospital, KK Women's and Children's Hospital, Singapore General Hospital and National Health Group Polyclinics. The counter last closed at S$0.14 on Dec 6, down three Singapore cents or 17.7 per cent.