Stocks to watch: Sembmarine, Great Eastern, Livingstone, SPH, SPH Reit, Yangzijiang, PropNex, Ascendas Reit

THE following companies saw new developments that may affect trading of their securities on Tuesday (Nov 2):

Sembcorp Marine: S51 Temasek's mandatory general offer for the offshore and marine player turned unconditional as it garnered acceptances equalling to 4 per cent of Sembmarine's total shares, said the group in a bourse filing on Tuesday (Nov 2) before trading began. Shares that Temasek owns, controls or agreed to acquire totals 50.6 per cent of total shares as of Monday (Nov 1). Shareholders have till Nov 3, 5.30 pm to accept the offer. Sembcorp Marine shares closed flat at S$0.079 at the end of Nov 1.

Great Eastern: G07 The insurance arm of OCBC on Tuesday (Nov 2) posted a 26 per cent fall in net profit to S$213.3 million for the third quarter ended Sept 30, from S$287.9 million a year ago. The group said this was mainly because the financial market conditions were not as favourable for Q3 2021 and it resulted in mark-to-market losses. Shares of the counter closed up 1.8 per cent or S$0.39 at S$21.91 on Nov 1.

Livingstone Health: PRH The specialist healthcare group on Tuesday (Nov 2) posted a 56 per cent rise in net profit to S$2.1 million for its first half ended Sep 30, from S$1.3 million a year ago. This was mainly due to improved contributions from its existing business segments, as well as maiden contributions from new initiatives and the sale and administration of Sinovac vaccines. Shares of Livingstone Health closed at S$0.153 on Nov 1, down S$0.001 or 0.7 per cent.

Singapore Press Holdings (SPH), SPH Reit: T39 SK6U Rival offeror Cuscaden on Monday (Nov 1) night said its minimum chain offer price for each SPH real estate investment trust (Reit) unit - should its acquisition bid for SPH succeed - is S$0.964, fully in cash. The Securities Industry Council (SIC) had confirmed this in an earlier ruling, said Cuscaden. SPH shares closed up S$0.13 or 6.53 per cent at S$2.12, while SPH Reit units ended S$0.065 or 6.67 per cent higher at S$1.04 on Nov 1, before the announcement.

Yangzijiang Shipbuilding: BS6 Its gross profit fell 20.8 per cent in the third quarter to 1 billion yuan (S$210.9 million) from 1.26 billion yuan in the year-ago period. This was despite a 25 per cent rise in revenue as higher raw material costs squeezed shipbuilding margins, the mainboard-listed shipbuilder said in a Singapore Exchange update on Monday (Nov 1) evening after market close. Prior to the news, Yangzijiang shares closed S$0.02 or 1.41 per cent lower at S$1.40.

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PropNex: OYY The mainboard-listed real estate agency has terminated its master franchise agreement with its Vietnam franchisee and is disposing of its entire stake in that business, it said in a Nov 1 announcement after the market closed. PropNex will however retain a presence in Vietnam under a new unit franchise agreement as of Sep 1. PropNex shares closed up S$0.02 or 1.05 per cent at S$1.93 on Nov 1, before the news.

Ascendas Reit: A17U It has issued HKD 950,000,000 (S$164.8 million) notes with a fixed interest rate of 2.63 per cent per annum due to mature on Oct 24, 2031. In a bourse filing on Monday (Nov 1), its manager said net proceeds will be used for general working capital purposes and the Reit's subsidiaries, if any. Shares of Ascendas Reit closed 0.65 per cent or S$0.02 higher at S$3.11 on Nov 1, before the announcement.