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Stocks to watch: Yamada Green Resources, DBS, Fragrance Group
THE following companies saw new developments that may affect trading of their shares on Tuesday:
Yamada Green Resources Limited: The company has applied for time extension to release its full-year financial results ended June 30, 2017 and to hold its annual general meeting for FY2017, due to a fire incident. The supplier of edible fungi operating mushroom cultivation bases in Fujian province, China, said on Monday that a transport vehicle ferrying certain finance documents and IT/computer hardware had gone up in flames on Aug 30, 2017 at 2.30pm. The group requested a trading halt on Aug 31 and last traded at S$0.33 on Aug 30.
DBS Group Holdings Limited: DBS Bank India (DBS India), part of Asia's leading financial services group, DBS Group Holdings, has received in-principle approval from the Reserve Bank of India (RBI) to convert its existing India franchise to a locally incorporated wholly owned subsidiary (WOS) in India. Announcing this on Monday, DBS said it will leverage its strengths and resources through the WOS, to build a scalable business through a multi-channel strategy. DBS edged 1.31 per cent lower to close at S$20.35 on Monday.
Fragrance Group Limited: Mainboard-listed property company Fragrance Group has acquired the 300-year old Crown Hotel in Britain for £7.2 million (S$12.7 million). The group said the acquisition of the hotel is not expected to have a material impact on the net tangible assets of the company and the hotel is expected to contribute positively to its results for the current financial year ending Dec 31, 2017. Fragrance Group shares were last traded at S$0.161 on Monday.