Companies & Markets

Stocks to watch: Top Glove, Wilmar, Olam, SPH Reit, Centurion

Published Wed, Oct 7, 2020 · 12:46 AM

THE following companies saw new developments that may affect trading of their shares on Wednesday:

Top Glove Corp: The Malaysian glove maker will pay a revised sum of RM136 million (S$44.5 million) in remediation fees to migrant workers who joined the company before it implemented a new standard for ethical recruitment in January 2019. This sum exceeds the RM53 million announced in August, following recommendations by Top Glove's independent consultant. Top Glove shares closed down S$0.08 or 2.8 per cent to S$2.83 on Tuesday.

Wilmar International: Proceeds from the listing of Wilmar's China unit, Yihai Kerry Arawana, will go towards the partial funding of 19 investment projects in China, The Business Times reported on Wednesday. Wilmar shares closed at S$4.54 on Tuesday, up S$0.03 or 0.7 per cent.

Olam International: The agri-food giant has upsized its flagship debt facility by US$300 million to US$1.98 billion and will use it to refinance existing loans. Olam shares closed at S$1.30 on Tuesday, up S$0.03 or 2.4 per cent, before the news.

SPH Reit: The real estate investment trust (Reit) has posted a distribution per unit (DPU) of 1.04 Singapore cents for the half-year ended Aug 31, 2020, compared to 2.85 cents a year ago. The lower DPU was mainly due to rent waivers and capital retention, the manager said. Units of SPH Reit added 0.5 Singapore cent or 0.6 per cent to close at 88.5 cents on Tuesday, before its results announcement.

Centurion Corp: The worker and student accommodation provider has priced S$9.8 million in fixed-rate notes due 2024. Shares of mainboard-listed Centurion closed flat at 33.5 Singapore cents on Tuesday, before this announcement.