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Stocks to watch: Mary Chia, Frasers Centrepoint, Wing Tai, Creative Technology
THE following companies saw new developments that may affect trading of their shares on Friday:
Mary Chia Holdings Limited: Beauty specialist Mary Chia Holdings has received a mandatory cash takeover bid at 11.1 Singapore cents apiece from Suki Sushi - operator of Japanese and fusion-concept cuisine restaurants in Singapore. The offer price represents a 68.2 per cent premium over Mary Chia's last traded price of 6.6 Singapore cents on Wednesday, prior to the trading halt pending the announcement.
Frasers Centrepoint Limited: The real estate company said it is in discussions with "certain vendors" for acquisition opportunities in the United Kingdom, but there is no certainty that a transaction could materialise. The mainboard-listed firm said this on Friday in reference to an article published in the UK that the company was in talks to acquire a business park portfolio located there. Frasers Centrepoint closed at S$1.95 on Thursday.
Wing Tai Holdings: The property and retail group controlled by the Cheng family posted a net profit of S$9.49 million for Q4 FY2017, up from a profit of S$1.88 million for the same year-ago period. Shareholders will receive a first and final dividend of three Singapore cents and a special dividend of the same quantum. The counter closed one Singapore cent higher at S$2.13 on Thursday.
Creative Technology Limited: Creative swung into a net loss of US$5.54 million for the fourth quarter ended June 30, from a net profit of US$535,000 a year ago as sales sank and expenses rose. The group attributed the lower sales to the uncertain and difficult market conditions, which continued to affect the sales of its products. Creative closed at S$1.225 on Thursday.