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Stocks to watch: Spackman, Halcyon Agri, Serial System
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Spackman Entertainment Group: Catalist-listed Spackman on Tuesday said that distribution rights to its thriller film "Golden Slumber" has been sold to various markets including Asia, Australia, New Zealand and the US. The film is produced by the South Korean entertainment production company's subsidiary Zip Cinema, and distributed by CJ Entertainment. Among other regions, the film has been sold to Clover Films in Singapore, Malaysia and Brunei; Movie Cloud in Taiwan; and Megaton in Hong Kong. Shares in Spackman traded 3.1 per cent, or 0.3 Singapore cent higher, to close at S$0.10 apiece on Monday.
Halcyon Agri: Natural rubber supplier Halcyon Agri said it has increased its stake in Ivory Coast rubber producer Tropical Rubber Côte d'Ivoire SA (TRCI) by 18.8 percentage points. It now owns 70 per cent in TRCI, from 51.2 per cent previously. Halcyon paid US$5.1 million in cash for the stake, a premium over the US$3.3 million represented by the unaudited net asset value of the shares at end-Sep 2017. Halcyon Agri last traded at S$0.64, up a cent or 1.6 per cent, before the announcement.
Serial System: Electronic components distributor Serial System announced that its 91 per cent-owned Hong Kong unit, Serial Microelectronics (HK), has invested HK$805,000 (S$135,103) in two subsidiaries. Serial System shares ended up S$0.004 or 2.4 per cent at S$0.171 on Monday before the announcement.