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Stocks to watch: Oxley Holdings, Acromec, LionGold, Frasers Property

THE following companies saw new developments which may affect trading of their shares on Friday:

Oxley Holdings: Executives at property developer Oxley Holdings have been on a buying spree this week, with chairman and chief executive Ching Chiat Kwong buying more than 11 million company shares on the open market from Tuesday to Thursday for S$3.9 million, and deputy chief executive Eric Low purchasing 2.97 million shares on the open market on Tuesday and Wednesday for S$1.05 million. Their purchases came after the introduction of higher buyer's stamp duties and tighter loan-to-value limits sent Oxley's shares to their steepest ever one-day decline last Friday.


Acromec: Engineering services provider Acromec has secured a S$2.9 million contract in the healthcare sector that it expects to complete by the quarter ending Dec 31, 2018, the company said in a Singapore Exchange (SGX) filing on Friday morning. The contract, the third healthcare project secured in the last month, is for the outfitting of an established private-sector day surgery centre. Acromec's order book now stands at S$21 million, and this contract is expected to contribute positively to the earnings per share and net tangible assets per share of the group for the current financial year ending September 2018.


LionGold Corp: Catalist-listed LionGold Corp has entered into a loan agreement with its chief executive officer and executive director Tan Soo Khoon Raymond for an unsecured, interest-free loan of up to S$3.5 million, the company said in a SGX announcement on Friday morning. The company has also extended the maturity date of its 2.5 per cent redeemable convertible bonds issued in 2015 to Premier Equity Fund Sub Fund E, managed by Value Capital Asset Management. The bonds, which have an aggregate principal amount of up to S$100 million, were previously due 2018. The maturity date has been extended from three years to 4 1/2 years from the closing date of the first sub-tranche of Tranche 1 Bonds, and will now be March 16, 2020.

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Frasers Property: Multinational property company Frasers Property said on Thursday that it will be spending 799 billion dong (S$47.3 million) for a majority stake in Phu An Dien Real Estate Joint Stock Company (PAD), which will undertake the development of a residential-cum-commercial project in Vietnam. The project will be on a mixed-use development plot in Linh Trung Ward, Thu Duc District, in Ho Chi Minh City. Frasers Property is entering into the deal via its subsidiary, Frasers Property Investments (Vietnam) 2 Pte Ltd, which has signed a conditional share purchase agreement with Tran Thai Lands Company Limited to acquire the 45 million shares, or 75 per cent stake, in PAD.