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Stocks to watch: SPH, Accordia Golf Trust, Boustead, CSE Global, ASL Marine
THE following companies saw new developments that may affect trading of their securities on Wednesday:
Singapore Press Holdings (SPH): The media and property group said on Tuesday that it has filed an amended defence as well as a counterclaim for a lawsuit against it by Samuel Cranage Baker and Jeremy Lee Chuen Yang. The two plaintiffs have commenced legal proceedings against SPH and its wholly-owned subsidiary SPH Interactive for alleged minority oppression. SPH shares closed at S$1.30 on Tuesday, down S$0.01 or 0.8 per cent, before the announcement.
Accordia Golf Trust: The trustee-manager on Tuesday evening urged unitholders to carefully review the trust's circular before deciding how they will vote for the proposed divestment. This was in response to an open letter by the trust's largest minority unitholder, Hibiki Path Advisors, which said the price offered by sponsor Accordia Golf is too low. Units of Accordia Golf Trust closed flat at S$0.69, before the announcement.
Boustead Singapore: The mainboard-listed firm on Tuesday saw its revenue rise 61 per cent year on year to S$434.5 million for the second half of the year ended March 31. Its net profit climbed at a slower pace of 11 per cent to S$18.5 million. Shares of Boustead Singapore closed at 64.5 Singapore cents on Tuesday, down 0.5 cent or 0.8 per cent, before the announcement.
CSE Global: THe mainboard-listed global technology solutions provider on Tuesday said that Heliconia Capital Management, an investment firm owned by Temasek Holdings, has emerged as its substantial shareholder following the acquisition of a 25.03 per cent stake through a married deal with Serba Dinamik International. Shares of CSE Global closed at 46 Singapore cents on Tuesday, up 1.5 cents or 3.4 per cent, before the announcement.
ASL Marine Holdings: The mainboard-listed offshore and marine group said on Tuesday that its wholly-owned unit has secured shipbuilding contracts from the Aquaculture Centre of Excellence for the construction of two Eco-Ark fish farms. It did not disclose the deal amount. Shares of watch-listed ASL Marine closed at 3.8 Singapore cents on Tuesday, down 0.1 Singapore cent or 2.6 per cent, before the announcement.
Tee International: The Singapore Exchange (SGX) rejected the mainboard-listed engineering firm's application for an extension of time to announce its year-end results, but gave the company an extra month to hold its annual general meeting. Tee International on Wednesday requested to lift a trade halt called on Monday. Its counter last traded at S$0.03 on July 3.