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Stocks to watch: Perennial, Enviro-Hub, Sunpower, MSCI revisions
THE following companies saw new developments which may affect trading of their shares on Friday:
Perennial Real Estate Holdings: Mainboard-listed Perennial Real Estate Holdings on Thursday night said its wholly owned subsidiary Perennial SL has acquired Sanctuary City Pte Ltd from an unrelated party for US$15.6 million. With the sale, Perennial will hold Sanctuary City's 60 per cent stake in PT Bhakti Bangun Harmoni (BBH), of which the latter wholly owns a 246,982 square metre land parcel in large-scale master-planned township Sentul City, in the greater Jakarta area.
Enviro-Hub Holdings: Enviro-Hub filed a notice of three consecutive years' losses on Thursday, after financial results for the year to Dec 31, 2017 saw the company go into the red. The company, which has a diverse portfolio that includes recycling and refining of metals, property investments and management, as well as plastics to fuel refining, said that it was worth an average of S$42.14 million over six months as at May 31, above SGX's S$40 million watch list threshold.
Sunpower Group: Sunpower has secured a 105.2 million yuan (S$22 million) contract with Xinjiang Xinte, its second with the subsidiary of TBEA Pte Ltd within a month. This brings Sunpower's contract value with Xinjiang Xinte to 185.2 million yuan.
In addition, a further five Singapore Exchange (SGX)-listed stocks will be impacted by revisions to the MSCI, as earlier announced by the Singapore Exchange.