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Stocks to watch: Pavillon Holdings, ISR Capital, mm2 Asia
THE following companies saw new developments that may affect trading of their shares on Monday:
Pavillon Holdings Limited: Singapore-listed Pavillon Holdings on Monday said its subsidiary Fengchi Real Estate Sdn Bhd had on Sept 16 entered into a conditional sale and purchase agreement for the acquisition of units in a commercial complex and adjoining vacant lands in Johor Bahru, Malaysia, for RM52 million (S$16.7 million). Pavillon said 70 million new shares would be issued as part payment of the purchase price of the properties. Pavillon last traded at S$0.049 on Friday.
ISR Capital Limited: ISR Capital's subsidiary, Infiniti Advantage, has entered into an agreement to invest up to S$2.68 million in Straits Hi-Rel (SHR) in a move to expand into the high reliability (Hi-Rel) engineering services business. The investment will be done in four stages by subscribing for 16,667 shares in SHR, representing an equity stake of 25 per cent on an enlarged basis. ISR Capital closed trading at S$0.006 on Friday.
mm2 Asia Limited: Mainboard-listed mm2 Asia completed the acquisition of 13 Lotus Fivestar Cinemas on Friday, bringing the number of screens it owns from 43 to 133. The firm has to fork out RM98 million (S$37.8 million) to Lotus Fivestar Cinemas for the deal. Also, a payment of RM20 million will be subject to profit targets and made in the next two years. mm2 Asia last traded at S$0.50 on Friday.