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Stocks to watch: Yanlord, Cheung Woh, Tee Int'l, Trek 2000, Accrelist
THE following companies saw new developments that may affect trading of their securities on Thursday:
Yanlord Land Group: The group disclosed that the 166 per cent surge in its other operating income and other gains for FY2019 was partly due to a 1.52 billion yuan (S$303.6 million) gain on bargain purchase. Yanlord was responding to queries from the Singapore Exchange about its latest financial results. Yanlord shares fell S$0.03 to close at S$1.13 on Wednesday, before the announcement.
Cheung Woh Technologies: The mainboard-listed firm, which makes hard disk drives and precision metal-stamping parts, on Wednesday evening said it has signed a confirmation letter to sell its Tuas property for S$6 million. Shares of Cheung Woh last traded at 12.1 Singapore cents on Feb 20.
Tee International: A day after the firm's external investigator said laws might have been broken, Tee International said it has been asked to furnish documents to the Commercial Affairs Department and also provide assistance in investigations into an offence. The counter fell 0.3 Singapore cent or 7 per cent to close at four cents on Wednesday, before the announcement.
Trek 2000 International: Poo Teng Pin, a former executive director in the mainboard-listed company renowned for its revolutionary thumbdrive, pleaded guilty on Wednesday to four charges including having abetted in the conspiracy to inflate revenue and profit. Shares of Trek were up 1.8 Singapore cents to end trading at nine cents on Wednesday.
Accrelist, Jubilee Industries Holdings: Both Catalist-listed firms on Thursday morning said that they have no relationship with the individuals who own the remaining 30 per cent stake in Honfoong Plastic Industries, which is linked to an ongoing probe by the Corrupt Practices Investigation Bureau. Accrelist shares closed at 4.2 Singapore cents on Wednesday, down 0.3 cent or 6.7 per cent, while Jubilee shares closed flat at five Singapore cents.
Fragrance Group: Property magnate Koh Wee Meng, who is founder, executive chairman and chief executive officer of Fragrance Group, is understood to be in the early stages of selling a bungalow in Sentosa Cove for S$24 million. Shares of Fragrance finished flat at 13.6 Singapore cents on Wednesday.