You are here
Stocks to watch: Rex, Noble, Q&M Dental, Centurion, M Development, AnAn, Sinostar
THE following companies saw new developments which may affect trading of their shares on Monday:
Rex International Holding: Rex International said on Monday that it has received unsolicited, non-binding indications of interest in the portfolio of licences held by its 90 per cent owned subsidiary Lime Petroleum AS (LPA) from unrelated third parties. The company said that it is carefully considering the interest, but there is no guarantee that it will lead to a formal, binding proposal for the divestment of LPA’s portfolio of assets or LPA itself.
Noble Group: A key group of Noble's senior creditors said that they will focus the post-restructuring company on a limited number of market segments, and that they are assembling a board of directors committed to "the highest levels of ethical comportment". The restructuring proposal will transfer Noble's business to a new entity that will be controlled by the old Noble's creditors and management. The commodity trading company said that it plans to launch the schemes by Sept 21, 2018.
Q&M Dental Group: Q&M announced on Monday that its associated company Aidite (Qinhuangdao) Technology Co has proposed on Sept 14 to make an application to delist its shares from the National Equities Exchange and Quotations of the People’s Republic of China (New Third Board) to “explore certain strategic business development opportunities”.
Centurion Corp: Dormitory developer Centurion Corp has agreed to buy a 133-bed student housing asset in the British city of Nottingham for £10.2 million (S$18.25 million). The asset, dwell Castle Gate Haus, sits on the even-number lots of 32 to 44 Castle Gate near Nottingham Trent University and within driving distance of the University of Nottingham. The accommodation, which Centurion will manage under its dwell brand, comprises 69 studios and 64 en-suite rooms. The properties posted six-month profit before tax, minority interests and extraordinary items of £0.31 million for the period ended June 30, 2018.
M Development: Investment holding firm M Development has been granted a time extension to March 7, 2019, by the Singapore Exchange (SGX) to meet the requirements for a new listing. M Development announced on Sept 7 last year that it was deemed a cash company as it had no revenue from operations, and the company's assets consisted substantially of cash or short-dated securities.
AnAn International: Fuel oil trader AnAn International said on Friday evening that its controlling shareholder AnAn Group (Singapore) was handed a High Court order on Sept 7 for the group to be wound up and for liquidators to be appointed for the group. The order follows a winding up application by VTB Bank against AnAn Group for a claim of about US$170.4 million. The claim by VTB is related to a global master repurchase agreement and a repurchase transaction that both parties entered into in November last year.
Sinostar PEC Holdings: The board of directors of Sinostar PEC Holdings has approved a 1.2 billion yuan (S$239.8 million) investment by the group's subsidiary in the construction of a polypropylene production plant in Shandong province, China. The plant is expected to have an estimated production capacity of processing 200,000 tonnes of polypropylene per annum.