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Stocks to watch: M1, Mandarin Oriental, BreadTalk
THE following companies saw new developments that may affect trading of their shares on Wednesday:
M1: Chairman of M1, Choo Chiau Beng will step down from the board with effect from Jan 1, 2018. M1's board of directors has appointed Danny Teoh Leong Kay as a non-executive, non-independent director and chairman designate of the board with effect from Tuesday. M1 closed 0.83 per cent down at S$1.795 a share on Tuesday.
Mandarin Oriental International: Mandarin Oriental said that none of the proposals received recently for the sale of The Excelsior, Hong Kong, had met fully its expectations or transaction requirements. In a Singapore Exchange filing on Wednesday, the company said it will continue to review its options, including those that may result in redevelopment of the property into a commercial building. Mandarin Oriental International closed at US$2.79 a share on Tuesday.
BreadTalk Group: BreadTalk said on Tuesday evening it has been granted an option to purchase a corner freehold shophouse in Holland Village at a consideration of about S$16.2 million. The option for the property located at 22 and 22A Lorong Mambong shall remain valid until 4pm on Oct 9, 2017. BreadTalk Group last traded at S$1.56 a share on Tuesday.