Stocks to watch: Procurri, Nordic Group, Sasseur Reit, Vibrant Group, Natural Cool

THE following companies saw new developments that may affect trading of their shares on Tuesday:

Procurri Corporation: The enterprise hardware supplier on Tuesday said a proposed investor New State Capital Partners has withdrawn its acquisition offer. No specific reasons were provided for the withdrawal of the letter of intent by New State - with the deal first announced on Feb 3. New State, a private investment firm which operates in the US and focuses on investments in business, healthcare and industrial services industries, had then proposed to acquire all the shares of the company, other than treasury shares and shares held by substantial shareholder Irrucorp, via a scheme of arrangement. Shares of Procurri last traded on Feb 15 at S$0.31.

Nordic Group: Nordic Group on Monday night said it expects a "substantially lower" net profit for its fourth quarter from a year ago, based on a preliminary review of its unaudited results for the three months ended Dec 31. Full-year results for fiscal 2018 remains profitable, said the company, a precision engineering and systems integration solutions provider serving mainly the marine and offshore industry. The company will announce its fourth-quarter results on Feb 22. Nordic shares closed flat at S$0.38 apiece on Monday.

Sasseur Reit: Sasseur Reit (real estate investment trust) has posted a fourth-quarter distribution per unit (DPU) of 1.999 Singapore cents, 28.1 per cent higher than the forecast DPU of 1.561 Singapore cents. For the three months ended Dec 31, distributable income was S$23.6 million, also 28.1 per cent above forecast. Sasseur Reit's net property income, listed as entrusted management agreements rental income, was S$31.2 million, 1.6 per cent above forecast despite a softening Chinese yuan. DPU for the full year ended 2018 was 5.128 Singapore cents, 12.6 per cent above the 4.554 Singapore cents DPU forecast. The Reit's annualised distribution yield based on the full-year DPU was 9.4 per cent at the closing unit price of S$0.71 on Feb 18, as well as 8.4 per cent at the IPO offering price of S$0.80.

Vibrant Group: Vibrant Group's 60 per cent-owned subsidiary, Vibrant Properties, has agreed to sell its entire 60 per cent equity interest in DP-Master-Vibrant (Jiangyin) Real Estate Development Co (DPMV) to Jiangsu Yingshi Real Estate for a consideration of S$28.1 million. For its 60 per cent indirect equity interest in Vibrant Properties, Vibrant Group will be indirectly entitled to up to S$16.8 million upon completion of the sale. The sale is expected to take place no later than Feb 28, and will allow Vibrant Group to realise a profit over its investment in DPMV. Shares of Vibrant closed at 14 Singapore cents apiece on Monday, down 2.78 per cent, or 0.4 Singapore cent.

Natural Cool Holdings: Air-conditioning company Natural Cool Holdings is moving into the food and beverage business through a deal to acquire two snack manufacturing businesses for S$980,000 in cash, via a new 80 per cent subsidiary, the company announced on Tuesday before the market opened. The counter last traded flat at six Singapore cents apiece on Jan 25.