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Stocks to watch: OUE Lippo Healthcare, Creative, Second Chance, Manulife US Reit, Keppel-KBS US Reit
THE following companies saw new developments which may affect trading of their shares on Friday:
OUE Lippo Healthcare: The firm said on Thursday night that the hearing for the Crest entities' civil appeal has been fixed for a date between Aug 5 and 23 next year before the Court of Appeal. As well, at a hearing on Dec 24, the Court dismissed the Crest entities’ application to strike out the company’s action against it. As such, the company’s claim in that suit against the Crest entities and the Crest receivers to set aside the sale of the charged shares will continue to proceed.
Creative Technology: Creative was queried by the Singapore Exchange (SGX) on unusual share price movement on Thursday, after its shares tumbled in the afternoon. The stock was down 52 Singapore cents or about 13 per cent to S$3.42 by 3.40pm, with SGX's query coming in at 3.45pm. Responding at 7.08pm, Creative said that it was not aware of anything that might explain the unusual price movements, and confirmed its compliance with the listing rules.
Second Chance Properties: The mainboard-listed firm saw its first-quarter net profit plummet 90 per cent to S$218,000 for the three months ended Nov 30, 2018, compared to S$2.23 million for the year-ago period. Contributing the most to the loss was the securities segment, which reported a S$0.95 million loss for Q1 2019, compared to a S$0.97 million profit for Q1 2018.
Manulife US Reit: Manulife US Reit said on Thursday that it expects that the proposed new United States tax regulations will not have any material impact on its consolidated net tangible assets or distribution per unit (DPU), based on advice from its US tax advisers. It also expects additional tax expense to be no more than 1 per cent of distributable income before income tax.
Keppel-KBS US Reit: Keppel-KBS US Reit also said it expects that the proposed US regulations - as well as upcoming tax changes in Barbados where it has entities - will not have any material impact on its respective consolidated net tangible assets or DPU.