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Stocks to watch: Parkway Life Reit, OCBC, Thakral, Accrelist, Yanlord, UE, Mirach
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Parkway Life Reit: It is buying three nursing rehabilitation facilities in Japan for a total of 3.7 billion yen (approximately S$46.3 million) from KK Habitation, Fuyo Shoji Kabushiki Kaisha and Medical Corporation Shojinkai. Its units closed down S$0.04 or 1.2 per cent to S$3.22 on Tuesday.
OCBC Bank: Singapore's second-largest bank is using more data analytics to take a bigger chunk of the mass affluent market. OCBC is using data to improve underwriting decisions for insurance policies, and has employed more personalised data analytics to target "lazy money" sitting idle in customers' bank accounts, Pranav Seth, head of digital and innovation at OCBC, told The Business Times in an interview. OCBC shares closed at S$10.69 on Tuesday, down six cents.
Thakral Corporation: The mainboard-listed firm is acquiring 46.4 hectares of land in Queensland, Australia to expand its development of "resort-style" retirement housing, with A$20 million (S$18.7 million) committed to developing the property. The acquisition, subject to regulatory approval, is made through its GemLife joint venture for over-50s lifestyle resorts. Thakral shares last traded down S$0.005 or 1.1 per cent to S$0.455 on Nov 29.
Accrelist Ltd: Its wholly-owned subsidiary Accrelist Medical Aesthetics is intending to buy 49 per cent of Malaysia's Ozhean Accrelist Aesthetics for RM490,000 (S$161,535). Ozhean's net asset value as at Aug 31 was approximately RM860,646. Accrelist's shares last traded up S$0.005 or 6.3 per cent to S$0.085 on Monday.
Yanlord Land Group, United Engineers (UE): WBL Corporation, of which UE owns 69.14 per cent, has appointed SAC Capital as the independent financial adviser to advise and make a recommendation to shareholders in respect of the mandatory offer by Chinese real estate player Yanlord Land Group. A circular containing the advice and recommendation of the IFA will be despatched by the company to shareholders within 14 days from Dec 2. Yanlord's shares closed up S$0.01 or 0.8 per cent to S$1.19 on Tuesday while UE closed unchanged at S$2.69.
Mirach Energy: It will not be able to exit the Singapore Exchange's (SGX) watch list under the minimum trading price (MTP) criteria, following two Trade with Caution (TWC) alerts as well as unusual activities in the shares of the company that resulted in what appears to be artificial valuations. Mirach's shares closed up S$0.054 or 35.8 per cent to S$0.205 on Tuesday.
Watch list: In separate filings on Wednesday morning and Tuesday evening, seven mainboard-listed companies have announced their inclusion on the SGX watch list with effect from Dec 4. They are AEI Corporation, Debao Property Development, USP Group, Singapore Myanmar Investco, Reenova Investment Holding, XMH Holdings and ASL Marine Holdings. They are joining the watch list under the bourse's financial entry criteria.