Stocks to watch: Chip Eng Seng, Sabana Reit, Medtecs, QAF, Sinjia Land, Japan Foods

THE following companies saw new developments that may affect trading of their securities on Thursday (Jul 21):

Chip Eng Seng : C29 0%: The property developer is terminating all sale contracts under its planned mixed-use development, 28 Lyall South Perth, as it has been unable to engage a builder “on terms which are financially viable” in view of rising costs. In a bourse filing on Thursday, Chip Eng Seng noted incremental execution and financial risks to complete the project – and therefore has decided to “allow the purchasers a timely exit” by terminating the sale contracts. The counter ended Wednesday 0.8 per cent or S$0.005 lower at S$0.64.

Sabana Industrial Reit : M1GU 0%: The mainboard-listed real estate investment trust posted a distribution per unit of S$0.0159 for the first half of its fiscal year ended June, up 7.4 per cent from S$0.0148 in the corresponding year-ago period. Units of Sabana Reit closed on Wednesday at S$0.445, up 2.3 per cent or S$0.01, prior to the results announcement.