Stocks to watch: OCBC, HC Surgical, Medinex, CDL, Frasers Centrepoint Trust

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

OCBC: The participation rate in OCBC's scrip dividend scheme comprised three-quarters or 75.2 per cent of shareholdings, with nearly 67.5 million new ordinary shares allotted and issued to shareholders, the bank said. OCBC shares ended flat at S$8.62 on Wednesday, before this announcement.

HC Surgical Specialists (HCSS), Medinex: The two Catalist-listed firms have separately proposed to each buy a 20 per cent stake in a medical good retailer.

Meanwhile, HCSS on Wednesday night said its minority shareholder Serene Tiong has lodged a summons for leave to appeal against the High Court decision that was in favour of surgeon Julian Ong's defamation suit against her.

HCSS shares closed flat at S$0.30 on Wednesday, while Medinex shares last traded at 19.6 Singapore cents on Monday.

City Developments Limited (CDL): The property developer has named insurance veteran Colin Ong as its non-executive independent director. Mr Ong was most recently the executive senior director of Great Eastern Financial Advisers and has 28 years of experience in the insurance industry. CDL shares closed on Wednesday at S$7.80, up S$0.07 or 0.9 per cent, before the news.

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Frasers Centrepoint Trust (FCT): Over half of FCT's gross proceeds raised from its private placement has been allocated to temporarily pare down its revolving credit facilities, its manager said. FCT units closed on Wednesday at S$2.36, down S$0.02 or 0.8 per cent, before the news.

Hong Leong Finance: Customers representing 20 per cent of Hong Leong Finance's loan portfolio have opted for deferred repayments amid the pandemic, The Business Times reported on Thursday. But all such loans, except the government-assisted Enterprise Singapore loans, are secured. Hong Leong Finance shares closed at S$2.30 on Wednesday, up S$0.04 or 1.8 per cent.

Raffles Medical Group: The mainboard-listed company has appointed Kenneth Wu and Chong Ee Rong as co-deputy managing directors of operations and commercial respectively. Shares of Raffles Medical closed flat at S$0.80 on Wednesday, after this announcement.

Fortress Minerals: The Catalist-listed firm saw its net profit for the second quarter ended Aug 31 double to nearly US$5.7 million, from US$2.5 million a year ago. This came on the back of higher sales volume of iron ore, the company said. Fortress Minerals shares closed flat at S$0.20 on Wednesday, before its results announcement.