Stocks to watch: ST Engg, Keppel Reit, SGX, OCBC, Roxy-Pacific, Aspen

THE following companies saw new developments that may affect trading of their securities on Friday:

ST Engineering: The group on Friday posted a 14 per cent fall in net profit for its half year ended Dec 31 to S$264.4 million, from S$308.6 million a year ago. Revenue also slipped 18 per cent to S$3.6 billion as a result of Covid-19, which led to lower demand, supply chain challenges and workforce disruptions. Shares of ST Engineering ended at S$3.74 on Thursday, down 0.8 per cent or S$0.03.

Keppel Reit: The Reit's private placement has been priced at S$1.13 per new unit, about midway of its indicative range. The placement was approximately 4.6 times covered, and gross proceeds raised will amount to about S$270 million. Following this announcement, Keppel Reit on Thursday night requested the lifting of the trading halt it called earlier in the day before the market open. Its units last traded at S$1.19 on Wednesday, up S$0.01 or 0.9 per cent.

Singapore Exchange (SGX): The bourse is collaborating with Euroclear Bank to launch a new Orchid bond structure in Singapore, combining domestic bond issuance with global distribution channels. Through the initiative, international investors will be able to purchase bonds issued by Singapore-based issuers directly on The Central Depository (CDP) via Euroclear. Shares of SGX closed at S$9.91 on Thursday, down S$0.04 or 0.4 per cent, before the announcement.

OCBC: A wholly-owned unit of the bank has acquired the remaining 51 per cent stake it did not already own in Malaysia-incorporated Horizon Asset Management for RM2.55 million (S$837,650) in cash. This makes Horizon a fully-owned unit of OCBC, said the bank in a Thursday filing after markets closed. OCBC shares ended flat at S$10.65 on Thursday.

Roxy-Pacific Holdings: Its new associate Mequity Hills has entered an agreement to acquire a 999-year leasehold residential site at 10A and 10B Institution Hill for S$33.6 million. In its filing on Thursday, Roxy-Pacific also disclosed that its unit RP Ventures has subscribed a 42 per cent stake in Mequity Hills for S$840,000. Shares of Roxy-Pacific closed flat at S$0.35 on Thursday, before the announcement.

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Aspen Holdings: A unit of the mainboard-listed firm has incorporated a new subsidiary for the research and development (R&D) of medical engineering technology and supply-chain management. Aspen is also in talks with key partners and exploring collaborations with universities and research institutes both overseas and at home. Aspen shares closed flat at S$0.22 on Thursday, prior to the announcement.

Katrina Group: The Catalist-listed dining group anticipates a loss for FY2020 ended December, due to lower revenue amid the Covid-19 pandemic, as well as impairment losses on some non-current assets. It will announce its full-year results on or before March 1. Before the profit guidance was issued, shares of Katrina closed flat at 13.4 Singapore cents on Thursday.

Thomson Medical: Its shares rallied on Thursday to hit an intraday high of 9.9 Singapore cents, surpassing its 52-week high of 9.5 cents. Trading in Thomson Medical's warrants picked up as well, with 21.5 million warrants changing hands over the day. Thomson Medical shares finished at 9.7 Singapore cents on Thursday, up 0.9 cent or 10.2 per cent.

GL Limited: Guoco Group's offer to take the company private at S$0.70 has been deemed "not fair but reasonable" by GL's appointed independent financial adviser W Capital Markets. In a Thursday after-market filing, GL's independent directors recommended - based on W Capital's advice - that its shareholders accept the offer. GL shares closed half a Singapore cent or 0.7 per cent lower at 71 cents on Thursday.

Trading halt: Sunningdale Tech requested a trading halt on Friday morning pending the release of details of its Feb 19 scheme meeting for investors to vote on the private equity buyout of the precision plastic components maker.