Stocks to watch: Yangzijiang, Medtecs, Sunningdale Tech, First Reit, Lian Beng

THE following companies saw new developments that may affect trading of their securities on Friday:

Yangzijiang Shipbuilding (Holdings): The mainboard-listed group has inked a deal to set up a liquefied natural gas supply chain joint venture. Its wholly-owned subsidiary will cough up six million yuan (S$1.23 million) for a 30 per cent stake in the three-way joint venture. Shares of Yangzijiang shed S$0.02, or 1.84 per cent, to S$1.07 on Thursday, before the news.

Medtecs International Corp: The Catalist-listed medical equipment supplier intends to distribute a Taiwanese biologics firm's Covid-19 rapid tests in the Philippines. The counter closed on Thursday at S$1.10, down by S$0.02 or 1.79 per cent, before the announcement.

Sunningdale Tech: Quarz Capital Management said on Thursday that the proposed takeover price for Sunningdale Tech at S$1.55 per share is "too low" and "significantly undervalues" the precision plastic components manufacturer. Shares of mainboard-listed Sunningdale Tech closed S$0.01 or 0.6 per cent lower at S$1.54 on Thursday.

First Reit: Its FY2020 distribution per unit (DPU) has more than halved to 4.15 Singapore cents from 8.6 cents the previous year due to lower distributable income. The decline in full-year DPU comes as the Reit extended rental reliefs to its tenants and incurred higher project expenses versus FY2019. Units in First Reit closed flat at 24.5 cents on Thursday, before the results were announced.

Lian Beng Group: The mainboard-listed property player's net profit fell 5.2 per cent year on year to S$17.6 million for the six months to Nov 30, 2020, as Covid-19 disrupted construction activity. The counter closed flat at S$0.44, before the results were announced.

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SLB Development: The property developer's earnings held steady in the first half-year on profit contributions from its associates, according to unaudited results on Thursday. Net profit ticked up by 0.9 per cent year on year, to S$5.54 million for the six months to Nov 30, 2020. Catalist-listed SLB Development's shares closed flat at S$0.11 on Thursday, before the results were released.