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Stocks to watch: Mapletree Logistics Trust, Del Monte, Sasseur Reit, Global Invacom, Mary Chia
THE following companies saw new developments that may affect trading of their securities on Tuesday:
Mapletree Logistics Trust (MLT): The trust is looking to acquire an effective interest of 98.47 per cent in a freehold logistics property in Kobe, Japan, for some 22.2 billion yen (S$272.5 million), MLT’s manager said on Tuesday morning. MLT units closed at S$1.83 on Friday, up S$0.01 or 0.5 per cent.
Del Monte Pacific: The mainboard-listed food and beverage company on Friday evening said it has entered into an agreement for the proposed sale of a 13 per cent stake in its indirect wholly-owned subsidiary Del Monte Philippines Inc for US$130 million. Shares of Del Monte Pacific were down 0.3 Singapore cent or 2.1 per cent at 14.1 cents at Friday’s close.
Sasseur Real Estate Investment Trust (Sasseur Reit): In response to the coronavirus spread in China, Sasseur Reit’s manager has temporarily shuttered four outlet malls in the country, it announced on Tuesday. Two of them, in Chongqing and Bishan, have been closed from Jan 26, while the other two malls, in Hefei and Kunming, have been closed from Jan 27. Units of Sasseur Reit ended trading at 87.5 Singapore cents on Friday, down 2.5 cents or 2.8 per cent.
Global Invacom: The mainboard-listed company on Tuesday morning said it expects to recognise non-recurring losses of between US$9.5 million and US$10.5 million in relation to the closure of its Shanghai operations, for fiscal 2019. Global Invacom was responding to the Singapore Exchange’s query. The counter closed unchanged at 10.9 Singapore cents on Friday.
Mary Chia Holdings: The Catalist-listed beauty and slimming group on Friday proposed a private placement of up to 26.67 million new shares at 7.5 Singapore cents each, amounting to S$2 million in total. Mary Chia had requested a trading halt before market open on Thursday, and lifted the halt on Friday night after the announcement. Its shares last traded flat at 7.5 Singapore cents on Nov 27, 2019.
Advancer Global: The Catalist-listed firm on Monday said that miscommunication was the reason for its failure to disclose that its recently appointed chairman is also a director at taxi firm Trans-Cab Holdings. Advancer Global was responding to a query from the Singapore Exchange about why it did not disclose that information in its Dec 30 filing. Shares of Advancer closed flat at S$0.165 on Friday.