Stocks to watch: Jardine Matheson, Oxley, mm2 Asia, Golden Energy

THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 9):

Jardine Matheson Holdings: C07 The blue-chip conglomerate plans to double the size of its share-buyback scheme to US$500 million, it said on Wednesday (Dec 8). The counter closed on Wednesday at US$54.14, down by US$0.48 or 0.9 per cent, before the announcement.

Oxley Holdings: 5UX A wholly-owned subsidiary of the mainboard-listed developer will cough up as much as A$14.3 million (S$14 million) to cover costs related to subsidiaries under voluntary administration in Australia, the board said in an update on Wednesday. The counter closed flat at S$0.188 on Wednesday, before the announcement was made.

mm2 Asia: 1B0 The mainboard-listed group on Wednesday said it will pause the spin-off and listing of its cinema business on the Catalist board of the Singapore Exchange (SGX) as it likely does not comply with chain listing requirements. SGX will normally not approve the listing of a listed issuer's subsidiary if its assets and operations are substantially the same as that of the listed issuer. Shares of mm2 closed at S$0.052 on Dec 8, up S$0.001 or 2 per cent, before the announcement.

Golden Energy and Resources (Gear): AUE The mainboard-listed coal miner is seeking note holders' approval to modify the terms governing its 8.5 per cent senior secured notes due 2026. Gear shares closed unchanged on Wednesday at S$0.305, before the announcement.

QT Vascular: 5I0 The Catalist-listed medtech company on Thursday said it has entered into an agreement to repay US$1 million of debt owed to its former chief executive officer Eitan Konstantino and 2 companies, MDIE and Emerald Apex, through a new share issue. This comes after the creditors expressed "concerns and reservations arising from the unexpected requisitions'' of late. Shares of QT Vascular last ended at S$0.007 on Dec 3 before the company called for a trading halt on the morning of Dec 6. The counter resumes trading on Thursday.

Biolidics: 8YY The Catalist-listed medtech company expects to start commercial production of a new Covid-19 rapid test kit by year-end, the board announced on Wednesday. Biolidics shares added half a Singapore cent or 3 per cent to S$0.172 on Wednesday before its latest announcement.

Sunpower Group: (5GD) The mainboard-listed industrial steam provider is investing in a steam-production joint venture in China, which will supply a guaranteed portion of the output on a wholesale basis to a Suzhou-based subsidiary. Sunpower shares closed on Wednesday at S$0.47, up by half a Singapore cent or 1.1 per cent, before the announcement.