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Stocks to watch: Roxy-Pacific, APAC Realty, shopper360
THE following companies saw new developments that may affect trading of their shares on Thursday:
Roxy-Pacific Holdings: The property and hospitality group had refuted media reports that it demolished much of the historic facade of an inner-city building without approval from the City of Sydney Council while constructing The Hensley in Potts Point and that it was ordered to reinstate the wall. It said that since receiving development approval on the development, which followed the project's sales launch in June 2016, it has been working closely with the city council to ensure that "certain original building elements such as the facade are successfully retained or rebuilt", in line with the development approval.
APAC Realty: APAC Realty, under which property agency ERA Realty Network has launched its initial public offering, will debut at the Singapore bourse on Thursday. The premiere is ahead of a perceived property upcycle in the horizon in Singapore. APAC has received interest for 597.6 million placement shares worth about S$394.4 million and said the placement was about 13.4 times oversubscribed.
shopper360 Limited: Malaysia-based shopper360 signed a non-binding agreement with Pahtama Group on Tuesday to incorporate a new joint venture company in Myanmar to provide marketing services in the retail and consumer goods industries in the country. Under the MOU (memorandum of understanding), shopper360 will hold a 60 per cent stake in the joint venture (JV) firm, while Pahtama Group has the remaining 40 per cent. The JV will also allow the company to seize opportunities in Myanmar by providing marketing services in the retail and consumer goods industries there.