Singapore stock watch: Yangzijiang, SPH, Accordia Golf, SingPost, The Hour Glass, ISEC

The Singapore Exchange Centre in Shenton Way. PHOTO: ST FILE

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday (Dec 23):

Yangzijiang Shipbuilding: Its executive chairman Ren Yuanlin has returned after being on leave for more than four months to assist in a confidential probe in Beijing. Mr Ren returned to his home on Friday evening, reported Chinese financial news outlet Caixin, citing sources. The company later announced in a Singapore Exchange filing on Sunday night that its chairman will return to office and resume his duties on Monday. Shares in the group last closed at $1.07 on Friday, down 0.93 per cent or one Singapore cent.

Singapore Press Holdings (SPH): The media group on Monday said it has acquired seven purpose-built student accommodation assets in the UK for £411 million (S$724.4 million). SPH shares closed at $2.16 on Friday, down three Singapore cents or 1.4 per cent.

Accordia Golf Trust: The Japan-based business trust, which last month saw units surge on the potential sale of all 89 golf courses in its portfolio, revealed on Friday that the offer to buy up the assets came from its own parent. Accordia Golf Co, which has a controlling stake of 28.9 per cent in the trust, was behind the non-binding proposal disclosed on Nov 28, the manager has said. Accordia Golf Trust units, which had traded at $0.60 before the proposal was first disclosed, spiked to a high of $0.76 on Dec 2. The counter most lately changed hands at $0.675.

SingPost: It is eyeing a 50 to 60 per cent slice of the domestic e-commerce delivery pie, after seeing its share improve from 20 to about 46 per cent in the last two years. In an interview with The Business Times published on Monday, Paul Coutts, chief executive officer of the mainboard-listed postal service provider, did not specify a time frame to reach the target. But he sounded confident of hitting the bull's eye, buoyed by the success of SingPost's strategy to win the home market first. Shares of SingPost closed unchanged at $0.925 on Friday.

The Hour Glass: The mainboard-listed luxury watch dealer has transferred its stake in a Vietnam-based company to an associate in Thailand, the board said on Friday. The Hour Glass's effective interest in the watch-selling THG S&S group has been cut from 50 per cent to 25 per cent, in a move that the board said took into account factors such as "the risks associated with the venture in Vietnam and the growth potential of the restructured group". Its shares closed flat at $0.805 on Friday before the announcement.

ISEC Healthcare: Chinese healthcare player Aier Eye Hospital Group now holds 56.53 per cent of Catalist-listed ISEC Healthcare as at the close of its mandatory offer on Friday. Bid vehicle Aier Eye International eventually nabbed acceptances representing 21.53 per cent of all shares, after triggering the offer by buying a 35 per cent stake in an agreement in August. ISEC shares ended Friday at $0.37, up $0.01 or 2.78 per cent, before the offer closed.

The Straits Trading Company: Its unit has subscribed to A$36 million (S$33.7 million) in secured notes to fund an Australian developer's 600-unit Melbourne home project, the board said on Friday, after market close. The subscription, funded by internal resources and bank borrowings, backs a development by an ICD Property-led consortium that is slated for end-2022. Its shares closed unchanged at $2.10 on Friday.

GYP Properties: Its plan to buy a freehold plot in New Zealand fell through with the agreement terminated on Friday after a condition precedent could not be met. It will now get a refund of its NZ$150,000 (S$134.1 million) deposit for the site in Pauanui, where it had planned to build holiday housing. Its shares closed down $0.001 or 0.9 per cent to $0.11 on Friday.

Ocean Sky International: The Catalist-listed civil engineering firm inked a deal on Friday to buy an office block in Melbourne for A$21.83 million (S$20.4 million), to be funded by a mix of internal resources and bank borrowings. Its shares last changed hands at $0.05 on Dec 11.

AsiaPhos: A group of former staff from phosphate miner AsiaPhos has withdrawn all their court claims for severance pay, but are taking their fight to arbitration instead, the board disclosed on Friday. Sichuan Mianzhu Norwest Phosphate Chemical, a subsidiary of Catalist-listed AsiaPhos, has been locked since March in a legal tussle with 20 former employees, who left in 2018, claiming some 1.84 million yuan (S$356,600) in the Chinese courts. AsiaPhos shares closed flat at $0.01 on Friday before the announcement.

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