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Stocks to watch: MLT, Yongnam, SPH, ISOTeam, Broadway Industrial, Straits Trading
THE following companies saw new developments that may affect trading of their securities on Wednesday:
Mapletree Logistics Trust (MLT): The Reit (real estate investment trust) has refinanced seven of its properties in Malaysia through the issuance of new seven-year medium-term notes, the manager said on Tuesday. Special-purpose vehicle Semangkuk issued about RM250 million (S$81.9 million) in unrated senior medium-term notes to external investors, and RM195 million in junior medium-term notes to MLT through its trustee. MLT units shed S$0.01 or 0.6 per cent to S$1.67 on Tuesday before the announcement.
Yongnam Holdings: The mainboard-listed steelmaker on Tuesday said it has bagged five civil engineering contracts worth S$101.3 million for infrastructure projects. The contracts are for developments in Singapore and Hong Kong. Yongnam shares closed up 0.1 Singapore cent or 0.69 per cent to S$0.146 before the announcement.
Singapore Press Holdings (SPH): Target Media Culcreative (TMCC), a joint venture between SPH and Chinese digital advertising company Focus Media, has won the tender to install, operate and manage 6,000 digital display screens at HDB estates for the housing board's pilot. TMCC is 21 per cent-owned by SPH. SPH, which publishes The Business Times, closed up S$0.02 or 1.0 per cent to S$2.12 on Tuesday before the announcement.
ISOTeam: The Catalist-listed building maintenance company on Tuesday said it is working to raise some S$28.9 million in a share placement, and the issuance of warrants and shares to a Japanese investor. It added it would place out 84 million new shares at S$0.24 each - a discount of some 1.72 per cent to the latest volume-weighted average price. ISOTeam shares closed flat at S$0.24 on Tuesday before the announcement.
Broadway Industrial Group: The mainboard-listed precision manufacturer was hit with a query over trading activity on Tuesday by the bourse regulator. The board said in an update later that night that the activity might be due to ongoing talks on potential merger and acquisition deals, which were first disclosed in November. Some 60 million of its shares changed hands on Tuesday, with the counter closing up 3.1 Singapore cents or 48.4 per cent to 9.5 Singapore cents.
The Straits Trading Company: The group on Tuesday said it has joined a consortium to buy a shopping centre in Shanghai for 2.42 billion yuan (S$468.9 million). Its unit SRE Venture 16 will be joining forces with a unit of a fund managed by ICBC International Investment Management and a subsidiary of ARA Asset Management, a real assets fund manager in which Straits Trading owns a 20.95 per cent stake. Straits Trading shares closed flat at S$2.09 on Tuesday before the announcement.
Mencast Holdings: The group on Tuesday said that its subsidiary has won a three-year contract worth S$24 million. Under the deal, the unit will sell "certain goods and services" from its waste treatment business to an unnamed oil supermajor. Mencast shares shed 0.3 Singapore cent or 4.0 per cent to 7.3 Singapore cents before the announcement.
NGSC: The mainboard-listed group, which is facing a mandatory delisting by the bourse operator, inked a pact on Tuesday to deal in telecom-related supply-chain management services. The joint-venture agreement will see NGSC taking a 51 per cent stake in the tie-up with businessman Charlie In. NGSC shares closed flat at 0.1 Singapore cent on Tuesday before the announcement.
Trading halt: Accordia Golf Trust has called for a trading halt pending the release of an announcement. Its units closed at S$0.675 on Tuesday, down 0.5 Singapore cent or 0.7 per cent.