Stocks to watch: Straits Trading, Top Glove, Goodland, Chip Eng Seng, LHN, MC Payment

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

S20 : The Straits Trading Company on Thursday announced that its subsidiary, Malaysia Smelting Corporation (MSC), has temporarily suspended its tin mining and smelting operations in Malaysia from June 4 to 14 pursuant the country's Movement Control Order 3.0. This is expected to impact MSC's operations and financial performance for the fiscal year ending Dec 31, 2021. As at 9.13am on Thursday, Straits Trading was up S$0.01 or 0.4 per cent at S$2.86, while shares of MSC on the Singapore Exchange were flat at S$0.65.

BVA: On Wednesday the glove maker posted a net profit of RM2.04 billion (S$654.7 million) for the third quarter ended May 31, 2021, which is almost six times the net profit of RM347.9 million the previous year. Separately on the same day, it said the US ban on its Malaysian-made gloves will delay its share sale plan in Hong Kong by a few months. Shares of Top Glove listed on the Singapore Exchange closed at S$1.60 on Wednesday after its results were announced, up S$0.03 or 1.9 per cent.

5PC, C29: Both property players announced acquisition deals on Wednesday. Goodland's unit PEG East has agreed to acquire a row of four freehold double-storey shophouses on Serangoon Road for S$16 million. Chip Eng Seng's wholly-owned unit CES Grosvenor (SA) is acquiring a two-storey commercial building in Adelaide, Australia, for A$2.5 million (S$2.6 million). Before their respective announcements, shares of Goodland closed at 13.7 Singapore cents on Wednesday, down 0.2 cent or 1.4 per cent, while shares of Chip Eng Seng closed flat at 45.5 Singapore cents.

41O: The property player on Wednesday announced it was "aggressively looking to acquire" properties to purchase for its co-living business, Coliwoo. It made this comment as part of a disclosure announcing that its unit, Coliwoo Holdings, has contributed an additional S$499,999 to the issued and paid-up ordinary share capital of a joint venture. Before that, shares of LHN closed S$0.01 or 2.6 per cent lower at S$0.38.

TVV: The digital payments company on Wednesday said it will not move the resolution by controlling shareholder Ching Chiat Kwong to remove most of its directors at its upcoming extraordinary general meeting (EGM) on June 30. Instead, it will hold another EGM by Aug 1 to vote on the overhaul, which Mr Ching had mooted in a second requisition notice to the company. Shares of MC Payment closed at 34.5 Singapore cents on Wednesday prior to announcement, up half a cent or 1.5 per cent.

5TY : On Wednesday evening the Catalist-listed company said it was proposing acquire Excelgames Interactive Asia Holdings for S$120 million. Completion of the acquisition will result in a reverse takeover of Advanced Systems Automation, which the company said is in line with its plan to enhance profitability through the "acquisition of a business with good growth potential in the thriving gaming industry". Shares of Advanced Systems ended Wednesday flat at 0.1 Singapore cent, before the announcement.