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Stocks to watch: ST Engineering, Del Monte, Oxley, OUE Lippo, MCT, Soilbuild, China Haida
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Singapore Technologies Engineering (ST Engineering): The group on Tuesday said it has divested its pilot training business in Australia for S$9.3 million on a cash-free and debt-free basis to Regional Express Holdings. This was done through the sale of its entire stake in Aviation Training Academy Australia and ST Aerospace Academy (Australia), which will cease to be subsidiaries of the group. The counter closed at S$4.20 on Monday, down one Singapore cent or 0.2 per cent.
Del Monte Pacific: The food and beverage player on Tuesday morning said it is evaluating options to refinance its US subsidiary’s loan facilities of about US$1.4 billion. Separately, it also gave an update on the subsidiary's asset divestments, with the Wisconsin operations successfully sold and transitioned. Shares of Del Monte closed at 14.3 Singapore cents on Monday, up 0.2 cent or 1.4 per cent.
Oxley Holdings: Oxley has pared its stake in United Engineers (UE) to below 10 per cent after selling some 62 million shares, representing a 9.73 per cent interest, in the open market. The bulk of the shares were scooped up by Yanlord Investments, whose general offer for UE turned unconditional after it crossed the 50 per cent threshold last Friday. In a bourse filing on Monday, UE announced that Oxley has reduced its stake in the company to 9.19 per cent. Oxley shares closed up 1.5 cents to S$0.36 on Monday.
OUE Lippo Healthcare: The Catalist-listed firm on Monday night announced that its chief operating officer has resigned to "pursue other opportunities". The counter closed at six Singapore cents on Monday, down 1.6 per cent, or 0.1 cent.
Mapletree Commercial Trust (MCT): MCT has issued S$250 million in principal amount of notes at a fixed rate of 3.05 per cent. The notes will mature on Nov 22, 2029 and are being issued under the S$3 billion multicurrency medium-term note programme established on Aug 8, 2012 and last updated on June 29 last year. The proceeds arising from the issue of the notes will be used by MCT and its subsidiaries to refinance existing borrowings and general corporate purposes. MCT units closed unchanged at S$2.310 on Monday.
Soilbuild Construction Group: Soilbuild has won a S$162.5 million contract to build an industrial factory development at Tai Seng Avenue, lifting its order book to S$551 million, it said on Monday. Its latest project, awarded by SB (Ipark) Investment, will see the construction of four blocks of eight- and nine-storey multiple-user, general industrial factory development that includes a carpark, industrial canteen and other ancillary facilities. Its shares last traded down S$0.006 or 9.7 per cent to S$0.056 on Nov 12.
Olam International: Its joint venture with the Republic of Gabon has received a Roundtable on Sustainable Palm Oil (RSPO) certification for its Makouke plantation, said the mainboard-listed food and agri-business firm in a statement on Monday. The 18,707 hectare (ha) plantation - managed by Olam Palm Gabon (OPG) - is the fourth Olam plantation to be RSPO-certified, bringing the firm's total RSPO certified area to 112,455 ha, or 78 per cent of its total palm concessions. Olam shares closed up three Singapore cents to S$1.86 on Monday.
China Haida: Its proposal to transfer the listing of the group from the mainboard to the Catalist board has been rejected by the Singapore Exchange (SGX). SGX is of the view that China Haida's plans to turn the business around are "preliminary at this stage", and hence, there are "no compelling reasons" to allow the proposed transfer. China Haida had proposed the transfer back in June, following its struggle to meet the S$0.20 minimum trading price requirement of listing rules. Its shares last traded down S$0.001 or 20 per cent to S$0.004 on Nov 4.
Trading halts: Tritech Group and Ascendas India Trust have both requested for trading halts pending announcements. Tritech Group's shares jumped up S$0.011 or 34.4 per cent to S$0.043 on Monday while Ascendas India Trust units traded down S$0.02 or 1.3 per cent to S$1.54.