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Stocks to watch: Suntec Reit, SPH, Ho Bee Land, Oxley, UG Healthcare
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Suntec Real Estate Investment Trust (Suntec Reit): Suntec Reit on Tuesday launched and priced its S$200 million five-year notes at 2.6 per cent. The notes are expected to be issued at par on May 27, 2020 and will mature on May 27, 2025. Units in Suntec Reit were up S$0.03 or 2.2 per cent to S$1.42 on Tuesday, before this announcement.
Singapore Press Holdings (SPH): SPH, which publishes The Business Times, said in a business update on Tuesday that its "resilient finances" will withstand the impact of Covid-19. Separately, the group also announced that its subsidiaries StreetSine Technology Group and StreetSine Singapore have each applied to be placed under judicial management. However, SPH said that there will be no material impact on the group's operations for FY2020, given that the subsidiaries are non-core investments. Shares in SPH closed at S$1.47 on Tuesday, down S$0.01 or 0.7 per cent, before these announcements.
Ho Bee Land: Mainboard-listed developer Ho Bee Land said on Tuesday that the firm is "not as badly affected" by the virus outbreak thanks to its strategic and resilient portfolio. Shares of Ho Bee Land closed on Tuesday at S$2.13, up S$0.02 or 1 per cent before this announcement.
Oxley Holdings: A buyer has entered into an expression of interest with Oxley Beryl, which owns the former Chevron House, to acquire the retail and banking units in the Raffles Place development for S$315 million. Shares of Oxley Holdings gained 0.5 Singapore cent or 2.3 per cent to finish Tuesday at 22.5 cents, before the announcement.
UG Healthcare Corporation: The Catalist-listed manufacturer of disposable gloves said in a regulatory update on Tuesday that its facilities are operating at "optimum production efficiency", with the production capacity of 2.9 billion gloves per annum amid higher demand. Shares of UG Healthcare closed on Tuesday at 32 Singapore cents, down 2.5 cents or 7.2 per cent.
Trading halt: Catalist-listed Kitchen Culture called for a trading halt on Wednesday morning before the market opened, pending the release of an announcement. The counter closed at 20 Singapore cents on Tuesday, up 0.8 cent or 4.2 per cent.