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Stocks to watch: Mapletree NAC Trust, Ascendas India Trust, Aspial, Willas-Array, GS

THE following companies saw new developments that may affect trading of their shares on Wednesday:

Mapletree North Asia Commercial Trust (MNACT): The manager of MNACT on Tuesday night said its Festival Walk shopping mall in Hong Kong remains closed until further notice. Due to extensive damage suffered last week in the city’s unrest, recovery works at the property including the cleaning up of debris and the assessment of repair works required are ongoing, it said. MNACT units closed down one Singapore cent or 0.86 per cent at S$1.15 on Tuesday, before the announcement was made.

Ascendas India Trust (a-iTrust): a-iTrust on Wednesday said it has raised S$150 million in gross proceeds from its upsized private placement, which was 4.1 times subscribed. The issue price was fixed at S$1.508 per new unit, the top end of the S$1.465 to S$1.508 range announced on Tuesday. The counter closed at S$1.54 on Monday, and the manager has called for the lifting of a trade halt requested on Tuesday morning.

Aspial Corporation: Aspial's mega Australia 108 project is expected to realise A$400 million (S$370 million) over the next 12 months as units are completed and handed over to buyers. Going forward, the company will disclose "unbilled contracts", which refers to contracts signed with buyers. Aspial shares on Tuesday rose 0.2 Singapore cent, or 1.3 per cent, to 15.8 cents. 

Willas-Array Electronics (Holdings): Hong Kong-based electronics distributor Willas-Array Electronics saw its second quarter net loss widen to HK$31.25 million (S$5.44 million) from HK$230,000 a year earlier. The counter closed flat at 45.5 Singapore cents on Tuesday before the results were announced. 

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GS Holdings: Catalist-listed GS Holdings has sold all 6.5 million shares in its dishwashing and cleaning services subsidiary to GSG Capital for S$2 million, citing that the unit had been loss-making for the past three financial years. Shares in GS Holdings closed flat at 75 Singapore cents on Nov 18, and the company has since requested for the lifting of its trading halt. 

Karin Technology Holdings: Mainboard-listed Karin Technology will sell its Shanghai property to an individual, Chen Chen, for 3.2 million yuan (S$620,000). Shares of the electronics component distributor closed unchanged at 31.5 Singapore cents on Tuesday.

Malaysia Smelting Corporation (MSC): MSC said Rahman Hydraulic Tin (RHT), a wholly-owned subsidiary of the tin miner and metal producer, has received approval from the Perak government in Malaysia for the issuance of new mining leases. The leases - for several parcels of land spanning more than 700 ha located at Klian Intan in Perak - are for the RHT tin mine, which is the largest hard-rock open pit tin mine in Malaysia. Shares of MSC closed unchanged at S$0.245 on Tuesday.

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