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Stocks to watch: Tianjin Zhongxin, Moya Holdings Asia, Mercurius Capital Investment, JCG
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Tianjin Zhongxin Pharmaceutical Group: Tianjin Zhongxin said on Monday that the Anhui Medical Products Administration has recently awarded its wholly-owned subsidiary a certificate of good manufacturing practices (drug GMP certification) for its pharmaceutical products. The subsidiary, Tianjin Darentang (Bozhou) Chinese Herbal Medicinal Slices, develops, manufactures and sells traditional Chinese herbal medicinal slices. It has also obtained approval for the manufacture of 500 different products, which the company believes can meet market demand. The counter last traded at US$0.92 on May 17, down 1.1 per cent, or one US cent.
Moya Holdings Asia: The water treatment company said on Monday that its subsidiary, Air Semarang Barat, had entered into a credit agreement on April 29 with a lender for banking facilities of up to 265 billion rupiah (S$25.2 million), secured by a corporate guarantee from Moya. On May 17, the loan covenant was amended, requiring Air Semarang Barat to immediately prepay any outstanding amounts under the credit agreement in the event of a change of ownership of Moya. Moya shares last traded at 7.8 Singapore cents, down 2.5 per cent, or 0.2 cent.
Mercurius Capital Investment: Mercurius said on Monday that it is currently "in an advanced stage of negotiation" for a joint venture and business investment, and will update shareholders when there are material developments. On March 28, the company had applied to the Singapore Exchange to seek an extension of the deadline of March 31 to demonstrate that it has a viable business to maintain its listing status. The company noted on Monday that there is no certainty yet that the Exchange will approve its application. Mercurius has called for its trading halt to be lifted. Its shares will resume trading on Tuesday. The counter last traded at 2.7 Singapore cents on May 9.
JCG Investment Holdings: Catalist-listed JCG Investment Holdings is proposing to acquire 51 per cent of the shares in Beverly Wilshire Medical Centre, a Malaysia-based medical aesthetics group, for a minimum of RM13.77 million (S$4.59 million) and up to RM15.3 million. JCG said on Tuesday that it entered into sale and purchase agreements with the shareholders of the Beverly Wilshire Medical Centre Group on May 16. Upon completion of the acquisition, the chairman of Beverly Wilshire Medical Centre, Ng Tian Sang, will be appointed as non-executive chairman of JCG. Mr Ng has also committed to subscribe for a private placement of up to S$1 million into JCG. The company on Tuesday also called for a lifting of its trading halt, which it requested on May 16. The counter last traded flat at 0.2 Singapore cent on May 15.