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Stocks to watch: Olam, Thai Beverage, Asti Holdings, Hatten Land
THE following companies saw new developments that may affect trading of their shares on Monday:
Olam International: Mitr Phol Sugar Corporation, the world's fourth-largest and Asia's largest sugar producer, will invest US$100 million in a 50 per cent stake in Olam International's wholly owned subsidiary, Far East Agri. According to agribusiness Olam's announcement on Monday, this is to capitalise on the "attractive growth opportunities" for sugar milling and refining in Indonesia.
Thai Beverage (ThaiBev): ThaiBev's Vietnamese drinks unit has registered to bid for a 53.59 per cent stake in Saigon Beer-Alcohol-Beverage Joint Stock Corp (Sabeco), and will price its bid by 3pm on Monday, Singapore time, the food and drink group announced before today's market opening. ThaiBev's associated company, Vietnam Beverage, had earlier indicated its interest in acquiring a stake in Sabeco. Other companies that have expressed interest in bidding for Sabeco include Anheuser-Busch InBev and Asahi Group Holdings.
Asti Holdings: Mainboard-listed Asti Holdings Limited's two-month exclusivity period in relation to a non-binding term sheet that it entered with China Fortune-Tech Capital Co (CFTC) to divest the STI Group has expired. In a Singapore Exchange filing on Sunday, the manufacturer of semiconductor equipment said on Sunday that the exclusivity period granted by the company under the term sheet that was further extended had expired on Dec 15.
Hatten Land: Malaysian property developer Hatten Land Limited's wholly owned subsidiary is planning to acquire the remaining minority interests in two development sites in Malacca for about RM28.9 million (S$9.6 million). The Catalist-listed firm said in a late Singapore Exchange filing on Dec 15 that subsidiary Sky Win Management Consultancy Pte Ltd had entered into two sale and purchase agreements with Tan Ping Huang Edwin, Hatten's executive director and deputy managing director, and the holder of the minority interests in Rico Development Sdn Bhd (RDSB) and Rico Ventures Sdn Bhd (RVSB), on Dec 15.