Stocks to watch: SGX, CapitaLand, Jumbo, USP Group, FJ Benjamin, Fu Yu

THE following companies saw new developments that may affect trading of their shares on Monday.

Singapore Exchange (SGX): The bourse on Friday posted a net profit of S$239.8 million for the half year ended Dec 31, 2020, up 12.4 per cent from S$213.3 million a year ago. It separately announced on the same day that it has entered into a joint venture with Temasek to advance digital asset infrastructure in capital markets. Shares of SGX ended at S$10.09 on Friday, down S$0.15 or 1.5 per cent, before the announcements.

CapitaLand: The property giant announced in its profit guidance on Friday that it is expecting to report a loss for FY2020 on Feb 24 as a result of the impact from revaluations and impairments. Notwithstanding the expected full-year loss, CapitaLand's overall business and financial position remains resilient, it said. The counter ended Friday down S$0.05 or 1.5 per cent at S$3.40, before the announcement.

Jumbo Group: Its indirect wholly-owned subsidiary has entered into a joint venture (JV) agreement with The Art of Mee Pok to run outlets selling Teochew fishball and minced meat noodles, said the food and beverage play on Sunday. Jumbo will hold a 60 per cent stake in the JV company, JLL F&B Services, while The Art of Mee Pok will hold the remaining 40 per cent. Shares of Jumbo ended Friday at 37 Singapore cents, up half a cent or 1.4 per cent.

USP Group: It is seeking US$11 million in damages from five parties including two former board members, said the watch-listed company on Sunday. The claims are in relation to the acquisition of three eco fuel production plants, and will be made for alleged offences including a breach of fiduciary duties, dishonest assistance, fraudulent misrepresentation and deceit, among others. Shares of USP ended last Friday at 6.8 Singapore cents, up one cent or 17.2 per cent.

FJ Benjamin Holdings: The mainboard-listed retailer on Sunday announced that it has obtained an in-principle approval from the SGX to transfer to the Catalist board. This is subject to certain conditions, including obtaining shareholders' approval. Shares of FJ Benjamin ended last Friday at 1.6 Singapore cents, down 0.1 cent or 5.9 per cent.

Fu Yu Corp: Its co-founders had "deliberated at length" before giving up their 29.8 per cent stake to a buyer who would "appreciate the value and strengths" of the group's business, said the firm in a bourse filing on Friday. This was in response to questions raised by shareholders and the investment community regarding the recent announcement that the co-founders had stepped down. Shares of Fu Yu closed Friday up half a Singapore cent or 1.8 per cent at S$0.29, before the regulatory update was issued.

Sabana Shari'ah Compliant Industrial Reit (Sabana Reit): Donald Han, chief executive of the manager, said he wants to leave behind the failed merger with ESR-Reit and work on improving Sabana Reit's portfolio and performance. Lim & Tan Securities in a Friday note said that the Reit is trading cheaply and is still at a hefty discount from the consensus 12-month target price of 48 Singapore cents. Units of Sabana Reit last closed at 39.5 Singapore cents on Friday, up two Singapore cents or 5.3 per cent.

Citicode, Artivision Technologies: Shareholders of both companies have voted in support of reverse takeover deals, said the firms in separate regulatory filings on Friday. Citicode's reverse takeover of healthcare specialist Livingstone Health will transfer its listing status from the mainboard to the Catalist board on the SGX, while Artivision is acquiring electronic payment and online retail business Mobile Credit Payment. Both Citicode and Artivision closed flat at 0.1 Singapore cent and 1.1 Singapore cents respectively, after the announcements.

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