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Stocks to watch: SingPost, Biolidics, Keppel DC Reit, DBS, SATS, Metech
THE following companies saw new developments that may affect trading of their shares on Monday:
Singapore Post (SingPost): The postal service provider on Monday said it plans to buy a 38 per cent stake in Freight Management Holdings, a fourth-party logistics service company incorporated in Victoria, Australia for A$85 million (S$84.1 million) in cash. SingPost shares closed at 67.5 Singapore cents on Friday, down 0.5 cent or 0.7 per cent.
Biolidics: The medical technology company has issued a letter of demand to Japan-based healthcare group Sysmex Corporation. Biolidics claimed Sysmex breached intellectual property-related obligations under a collaboration agreement for the joint development of biochips. Shares of Catalist-listed Biolidics closed flat at 32.5 Singapore cents on Friday, before the announcement.
Keppel DC Reit: The real estate investment trust joined the benchmark Straits Times Index on Monday. Its units closed up S$0.05 or 1.7 per cent to S$3.04 on Friday.
DBS: The bank is launching a new tranche of a structured product with an environmental, social and governance theme. DBS shares closed up S$0.32 or 1.5 per cent to S$21.39 on Friday.
SATS: A blow to the travel sector during the Covid-19 pandemic has validated and accelerated SATS' plans to diversify its revenue streams out of both aviation as well as its domestic market of Singapore. Shares of the ground handling and in-flight catering firm closed down S$0.04 or 1.3 per cent to S$3.03 on Friday.
Metech International: The Catalist-listed metal dealer's executive director and chief executive Clement Tay Ming Liang has resigned with effect from Oct 16, to "pursue his personal interests". Metech shares closed up 0.2 Singapore cent or 1.7 per cent at 12.2 cents on Friday, before the announcement.
UnUsUaL: The Catalist-listed entertainment company said it expects to report a net loss for the first half of its financial year to September, as it was hit by the impact of the pandemic. Shares of UnUsUaL closed down 0.1 Singapore cent or 0.7 per cent to 13.6 cents on Friday, before the announcement.
Olam International, Food Empire Holdings: A relatively inelastic demand for coffee, combined with the expected over-supply of coffee beans, may brew a stronger margin for coffee retailers and processors. Olam International shares closed flat at S$1.29, while Food Empire Holdings closed up 1.5 Singapore cents or 2.6 per cent at 60 cents on Friday.
Acesian Partners: The High Court has granted the application of the judicial managers and ordered that the company's wholly-owned subsidiary, Acesian Star (S), be wound up. Acesian Partners shares closed flat at 1.1 Singapore cents on Friday, before the announcement.
Trading halt: UK-focused Elite Commercial Reit requested a trading halt on Monday morning. Its units closed up £0.01 or 1.6 per cent to £0.64 on Friday.