Stocks to watch: Trek 2000, Tee International, QT Vascular, SIA

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

Trek 200 International: Legal proceedings against Trek 2000 founder Henn Tan have "no impact on the company's operations and businesses", the mainboard-listed firm said in a Singapore Exchange (SGX) filing on Tuesday after the market closed. Tan stepped down from his position as chairman emeritus from June 29, and is no longer part of the company. Shares in Trek 2000 last closed at S$0.09 on July 30.

Tee International: Investment holding company Tramore Global's mandatory conditional cash offer for Tee International has closed, with valid acceptances of 24.66 per cent as at 5.30pm on Tuesday. The counter closed at 3.4 Singapore cents on Tuesday, up 0.1 cent or 3 per cent.

QT Vascular: Shares of the medtech firm surged 112.5 per cent or 0.9 Singapore cent to close at 1.7 cents on Tuesday, after the company announced plans to acquire a Mongolian mining and energy company called Tengri Coal and Energy for S$1 billion in cash and new shares. If completed, the transaction is expected to result in a reverse takeover of QT Vascular.

Singapore Airlines (SIA): SIA's budget arm Scoot on Tuesday clarified that an email meant for passengers booked on flight TR100 from Singapore to Guangzhou was mistakenly sent to other customers who were not on the flight. Scoot said there was no data breach or leak of personal information. SIA shares closed at S$3.80 on Tuesday, up S$0.12 or 3.3 per cent.

Spackman Entertainment Group: Spackman's sponsor said it is up to the SGX to decide whether the South Korean media player's proposed divestment of an associate is an interested person transaction, and that the shareholders who will vote on the deal are independent. Spackman shares closed at 0.8 Singapore cent on Tuesday, up 0.1 cent or 14.3 per cent.

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Mirach Energy: Mirach has been given further deadline extensions for its annual general meeting and financial statements, subject to certain conditions, the watch-listed firm announced in a regulatory filing on Tuesday night. Mirach shares last closed at 6.5 Singapore cents on Aug 19.

Trading halts: SBI Offshore and Axington Inc separately requested trading halts on Wednesday before the market opened, pending the release of announcements. Shares in SBI Offshore last closed at 3.5 Singapore cents on Aug 19, while shares in Axington closed at S$0.19 on Tuesday, down S$0.03 or 13.6 per cent.

Bellagraph Nova Group (BN Group), which is linked to Catalist-listed Axington, has withdrawn a press statement issued last month relating to a purported private meeting with former US president Barack Obama. The retraction came shortly after BN Group admitted to doctoring photos of Mr Obama in marketing materials used to publicise the group.