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Stocks to watch: Trendlines, China Jishan, Lafe, SUTL
THE following companies saw new developments that may affect trading of their shares on Wednesday:
Trendlines Group: Innovation commercialisation company Trendlines Group, on Tuesday, proposed a S$14.03 million placement of new shares, and to undertake a strategic review to cut cost and possibly implement a dividend policy. This move could significantly boost value for its shareholders and startups, it said in a filing with the Singapore Exchange (SGX). Catalist-listed Trendlines said that it has entered into an agreement with PrimePartners Corporate Finance to undertake a placement of up to 100 million new ordinary shares at 14.03 Singapore cents each, in an allotment that could raise total proceeds of some S$14.03 million.
China Jishan Holdings: China Jishan Holdings has called off a proposed disposal of a real estate unit, a move that may prevent the SGX from regarding the company as a cash business and suspending the stock. China Jishan announced on Wednesday before the market opened that it was terminating a planned sale of wholly owned subsidiary Shao Xing Yue Sheng Real Estate Property Development Co after the buyer did not agree to raising the purchase price.
Lafe Corporation: A general offer by Lafe Corp chairman Christopher Ho for all the shares he does not own is now unconditional after he received enough acceptances to cross a lowered hurdle. Mr Ho, through vehicle Sino Capital Resources, obtained acceptances for his 90 Singapore cent-per-share offer that lifted his deemed control to 74.98 per cent of the property groups shares at Tuesday's market close.
SUTL Enterprise: Owner of the ONE°15 brand SUTL Enterprise has secured its second management contract in China for an upcoming integrated marina, located at Sanshan Island in Taihu Lake, Suzhou. The 10-year contract was awarded by the master developer for the project Suzhou Taihu SanShan Island Marina, which holds the land and water rights for the upcoming waterfront development, which will comprise a private marina, yacht membership club and marina facilities. There are also plans for a clubhouse, the mainboard-listed company said in an SGX filing on Tuesday.