Stocks to watch: Property developers, Isetan, Starhill Global Reit, Q&M

THE following companies saw new developments that may affect the trading of their securities on Thursday (Dec 16):

CapitaLand Investment, City Developments Limited (CDL), UOL: 9CI C09 U14 The Singapore government, with effect on Thursday, is raising additional buyer's stamp duty rates and tightening the total debt servicing ratio threshold to 55 per cent from 60 per cent, as part of housing market cooling measures.

All 3 property counters closed lower on Wednesday, prior to the government's announcement on Wednesday (Dec 15). CapitaLand Investment shares were down 0.3 per cent or S$0.01 to S$3.44, CDL fell 0.4 per cent or S$0.03 to S$7.07 and UOL ended the day 0.7 per cent or S$0.05 lower at S$7.10.

Isetan (Singapore), Starhill Global Reit: I15 P40UThe department store operator on Wednesday said it had not gathered enough interest from investors for the purchase of its space at the Wisma Atria shopping mall on Orchard Road. Meanwhile, YTL Starhill Global Reit, which owns about 74 per cent of the total share value of strata lots in Wisma Atria, on Thursday said it remains open to exploring acquisition opportunities with Isetan. Shares of Isetan closed flat at S$4.12 on Wednesday, before the announcement, while units of Starhill Global Reit closed up S$0.005 or 0.8 per cent at S$0.64.

Q&M Dental Group (Singapore), Aoxin Q & M Dental Group: QC71D4 : 1D4 0%  Acumen Diagnostics, which is 51-49 owned by Q&M and Aoxin Q&M, has been granted a licence by the Ministry of Health to provide offsite swabbing and Covid-19 polymerase chain reaction (PCR) tests services at Q&M's network of clinics and Acumen's headquarters. Shares of Aoxin Q&M closed at S$0.24, down S$0.005 or 2.1 per cent, while shares of Q&M closed at S$0.59, down S$0.005 or 0.8 per cent, before the announcement.

Del Monte Pacific: D03 Philippines food and beverage manufacturer posted earnings of US$35.8 million for the second quarter to October, 63.8 per cent higher year-on-year, as its United States unit more than doubled profits. Its shares closed flat at S$0.38 on Wednesday, before the announcement.

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QT Vascular: 5I0 Its shareholders voted on Wednesday to remove the company's incumbent directors at an extraordinary general meeting, although the result will be contentious given that an earlier announcement, dated Dec 11, had questioned the validity of the resolutions. Shares of QT Vascular slipped S$0.001 or 16.7 per cent to close at S$0.005 on Wednesday.