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Stocks to watch: Yanlord, Wing Tai, Chip Eng Seng, World Class Global, IPC Corp
THE following companies saw new developments that may affect trading of their shares on Thursday:
Yanlord Land Group: The Chinese property developer recorded 18.92 billion yuan (S$3.71 billion) in total contracted presales from residential units, commercial units and car parks for the first five months of the year, a 68.4 per cent increase over last year, it said in a bourse filing late on Wednesday. Shares of Yanlord ended Wednesday at S$1.15, up S$0.01 or 0.9 per cent, on a cum-dividend basis.
Wing Tai Holdings: Wing Tai Properties, the Hong Kong associate of mainboard-listed Wing Tai Holdings, on Wednesday guided for a first-half consolidated loss for the six months ending June 30. In the year-ago period, Wing Tai Properties had a consolidated profit of HK$245.4 million (S$43.9 million). Shares of Wing Tai Holdings closed up three Singapore cents or 1.6 per cent at S$1.88 on Wednesday, before this announcement.
Chip Eng Seng: Property and construction player Chip Eng Seng on Wednesday announced that its subsidiary CES-Precast will acquire the remaining unexpired leasehold estate in an industrial building in Tuas. The S$25 million acquisition comes as part of the group's plans to diversify its businesses amid the Covid-19 fallout. Shares of Chip Eng Seng closed up 0.5 Singapore cent or 0.9 per cent at 57.5 cents on Wednesday, before this announcement.
World Class Global: The property developer on Wednesday said it has not seen any "significant" impact of the Covid-19 fallout on the settlement rates of its residential development in Australia. Shares of World Class Global last traded at S$0.12 on June 3.
IPC Corporation: Property investment firm IPC Corp on Wednesday confirmed that two of its independent directors are under investigation over troubled treatment water firm Hyflux's Tuaspring project. IPC said the matter is unrelated to the group's business, and that its operations are not affected by the investigation and will continue as normal. Shares in IPC Corp last traded at S$0.20 on June 9.