Stocks to watch: Sembcorp, Cromwell E-Reit, Hatten Land, QAF, NutryFarm, Asti

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jan 5):

Sembcorp Industries: U96 The company announced on Wednesday that its wholly-owned subsidiary has signed a long-term power purchase agreement to supply 625 megawatts of power to power distribution companies in the Indian state of Andhra Pradesh. The 12-year agreement is expected to commence in 2023, said Sembcorp in a bourse filing. The counter last closed at S$2.06 on Tuesday (Jan 4), up S$0.05 or 2.5 per cent.

Cromwell European Real Estate Investment Trust (Cromwell E-Reit): CWBU The Reit has entered into 3 separate sale and purchase agreements to acquire logistic properties in the UK and the Netherlands, for an aggregate purchase price of 57.8 million euros (S$88.4 million), the Reit manager said on Wednesday. Units of Cromwell E-Reit closed flat at 2.53 euros on Tuesday.

Hatten Land: PH0 The property developer announced on Wednesday that an associate company, which it has 19.3 per cent equity interest in, was granted a recognised market operator (RMO) licence by the Monetary Authority of Singapore. The licence recognises ECXX Global as an RMO in respect of operating an organised market for securities and collective investment schemes from Jan 1. Shares of Hatten Land closed up S$0.001 or 2 per cent at S$0.051 on Tuesday.

QAF: Q01 The mainboard-listed food supplier and maker of Gardenia bread said in a Tuesday bourse filing that Gardenia Malaysia has shut down one of its bakery factories in the country for an undetermined period, as severe flooding from the recent torrential rains ravage the country. This is expected to affect about 10 per cent of Gardenia Malaysia's total supply for FY2022, until the affected production lines have been replaced or repaired. Shares of QAF closed flat at S$0.88 on Tuesday, before the announcement.

NutryFarm International: AZT The mainboard-listed durian and health foods distributor said on Tuesday that its non-executive director Xu Hai Min stepped down from the company since Dec 30, 2021 to focus on other business interests. Xu will also be stepping down from his positions as the legal representative of NutryFarm's indirect wholly-owned subsidiary, WiVision Network Digital Video Technology, and First Linkage's subsidiary, Beijing Zhonglian Shengtong Internet Technology, as well as the legal representative of Xinjiang Zhongtong Internet Science and Technology Development. Shares of NutryFarm closed at S$0.28 on Tuesday, down S$0.015 or 5.2 per cent, after the announcement.

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Asti: 575 The semiconductor manufacturing services company said it will put in place internal processes to ensure the future accuracy of its remuneration disclosures, following public scrutiny over its S$1.4 million payout to retrenched chief executive Michael Loh Soon Gnee. Asti disclosed in a Tuesday bourse filing that the Singapore Exchange had questioned whether the company's internal controls were adequate and effective, to which it pointed out the discrepancy was due to an inadvertent oversight by HR on the clauses in Loh's latest employment contract. Shares of Asti closed at S$0.028 on Tuesday, down S$0.001 or 3.5 per cent, before the announcement.