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Stocks to watch: OUE Lippo Healthcare, OUE H-Trust, Cromwell E-Reit, Thomson Medical Group
THE following companies saw new developments that may affect trading of their shares on Wednesday:
OUE Lippo Healthcare (OUELH): OUELH announced on Wednesday morning that it received from the solicitors of the company’s former CEO and major shareholder Fan How Kin, demanding payment for about S$3.4 million in total for alleged loans owed. This is carried out through corporate vehicle Golden Cliff International, which is wholly owned by Mr Fan. The counter closed at 6.7 Singapore cents apiece on Tuesday, up 1.5 per cent, or 0.1 Singapore cent.
OUE Hospitality Trust (OUE H-Trust): OUE H-Trust distribution per stapled security (DPS) for the fourth quarter ended Dec 31, 2018 rose to 1.28 Singapore cents, up 0.8 per cent from 1.27 Singapore cents. The increase was due to lower interest expense and higher contribution from the retail segment, partially offset by lower income received from the hospitality segment. Gross revenue fell 2.2 per cent to S$33.1 million on the back of lower contributions from both the hospitality and retail segments. Net property income was down 1 per cent to S$28.9 million due to lower gross revenue from the properties, partially mitigated by lower property expenses. Income available for distribution climbed 1.3 per cent to S$23.3 million. Units in the trust closed flat at S$0.695 per unit on Tuesday.
Cromwell European Real Estate Investment Trust (Cromwell E-Reit): Units of the Reit shed some 5 per cent on Tuesday after a nearly 10 per cent stake in the Reit changed hands in the morning, with wealthy Singaporean couple Gordon and Celine Tang getting a bite of it. Cerberus Singapore Investor, one of the Reit's five largest unitholders, sold its entire 9.98 per cent stake in the Reit for 99.08 million euros (S$153 million) on Tuesday. The Tangs bought over units amounting to a 2.98 per cent stake, raising their interest in the Reit to 16.78 per cent. They remain the Reit's second largest unitholder. Units of the Reit closed at S$0.465 per unit on Tuesday, down 5.1 per cent, or 2.5 Singapore cents.
Thomson Medical Group (TMG): Independent directors of RSP Holdings - a wholly owned subsidiary of mainboard-listed TMG - are recommending that shareholders accept the pre-conditional voluntary general offer for all of the shares of RSP Holdings made by RSP TopCo. This is based on the opinion of the independent financial adviser, Provenance Capital, that the financial terms of the offer are "fair and reasonable". RSP TopCo is offering about 0.6 Singapore cent in cash for each RSP Holdings share. TMG shares ended at 7.5 Singapore cents apiece on Tuesday, down 1.3 per cent, or 0.1 Singapore cent.
Trading halt: Fintech firm Ayondo requested a trading halt on Wednesday morning before the market opened. The counter last traded at 4.8 Singapore cents apiece on Tuesday, down 20 per cent, or 1.2 Singapore cents.