Stocks to watch: Prudential, Top Glove, EC World Reit, Singapore SPACs

THE following companies saw new developments that may affect trading of their securities on Thursday (Mar 10):

Prudential: K6S The Asia-focused insurer posted a total adjusted operating profit before tax of US$3.2 billion on Wednesday, up 16 per cent from US$2.8 billion in the year-ago period. The group's board has declared a second interim ordinary dividend of US$0.1186 per share. Shares of Prudential ended Wednesday flat at US$14.70 on the Singapore Exchange (SGX), after the news.

Top Glove: BVA The glove manufacturer on Wednesday reported a net profit of RM87.5 million (S$28.5 million) for the second fiscal quarter which ended in February, down from earnings of RM2.9 billion in the corresponding year-ago quarter. No dividend was declared for the quarter under review. Shares of Top Glove ended Wednesday at S$0.555, down 6.7 per cent or S$0.04, after the results were announced.

EC World Real Estate Investment Trust (Reit): BWCU Its manager on Wednesday announced the Reit's entry into an expropriation and compensation agreement with Chinese authorities in relation to Fu Zhou Industrial. Under the agreement, the Chinese authorities will provide a compensation package of 108.5 million yuan (S$23.4 million) for the compulsory expropriation of the Hangzhou port property. EC World Reit units closed at S$0.74 on Wednesday, up 0.7 per cent or S$0.005, before the announcement.

Vertex Technology Acquisition Corp (VTAC), Pegasus: VT1 PGS The 2 special-purpose acquisition companies (SPACs) have begun trading separately as shares and warrants on the Singapore Exchange SGX). Shares of VTAC closed at S$4.95 on Wednesday, down 4.4 per cent from Friday's close, when it was still trading as a unit; 22,100 shares changed hands. VTAC's warrants closed at S$0.39 on Wednesday, with 4,350 warrants traded.