Stocks to watch: SPH, Keppel, HPL, Chuan Hup, Intraco, Asti, QT Vascular

THE following companies saw new developments that may affect trading of their securities on Thursday (Dec 23):

Keppel Corporation BN4, Singapore Press Holdings (SPH) T39, Hotel Properties Limited (HPL) H15: The Securities Industry Council has thrown out a clause in Keppel's offer that restricts SPH from holding a scheme meeting for a rival offer within 8 weeks from the Keppel scheme meeting. This marks the latest development in a keen takeover battle for SPH by Keppel and Cuscaden Peak, a consortium comprising HPL, businessman Ong Beng Seng, and 2 Temasek-linked entities, CLA and Mapletree. Before the announcement on Wednesday (Dec 22), shares of SPH closed up S$0.02 or 0.9 per cent at S$2.34, while Keppel shares closed down S$0.03 or 0.6 per cent at S$5.08, and HPL shares closed down S$0.01 or 0.3 per cent at S$3.23.

Chuan Hup C33: The company's subsidiary Ventrade Australia will enter into a joint venture (JV) to acquire a 964 square metre land site located in Queensland for A$7.6 million (S$7.4 million) and develop it. Ventrade will take a 50 per cent stake in the JV company, making the JV company an associate of Chuan Hup. Shares of Chuan Hup closed at S$0.235 before the announcement on Wednesday, up S$0.015 or 6.8 per cent.

Intraco I06: The mainboard-listed trading company has entered into an amended binding heads of agreement to invest in digital asset platform MHC Singapore. MHC Singapore, to be incorporated in Singapore by Australian entrepreneurs Mark Carnegie and Sergei Sergienko with equal shareholdings, will take over the relevant businesses and assets of Australian digital asset platform MHC Digital Group. Shares of Intraco jumped 10.6 per cent, or S$0.045, on Wednesday before the announcement to close at S$0.47.

Asti Holdings 575: The semiconductor manufacturing services provider has dismissed its chief executive officer Michael Loh Soon Gnee after more than 8 years as chief, amid an ongoing retrenchment exercise. The exercise comes as the group looks to exit the Singapore Exchange financial watch list and remain afloat "during this difficult period", Asti said in a bourse filing. Shares of Asti closed up S$0.001 or 3.6 per cent to S$0.029 on Wednesday before the announcement.

QT Vascular 5I0: The Catalist-listed medtech company said that its requisitioning shareholders have dropped the attempt to call for a third extraordinary general meeting to appoint new directors, the latest development in an ongoing boardroom tussle. Shares of the counter closed flat at S$0.005 on Wednesday before the announcement.