SINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday (April 1):
Tianjin Zhong Xin Pharmaceutical Group: Tianjin Zhong Xin Pharmaceutical Group has posted a net profit of 567.8 million yuan (S$114.7 million) for FY2018, up 20 per cent from 473.3 million yuan a year ago, lifted by interest income and gains from associated companies Sino-American Tianjin Smithkline & French Lab and Tianjin Hong Ren Tang Pharmaceutical Co. Revenue for the full year stood at 6.4 billion yuan, up 12 per cent from 5.7 billion yuan previously, on the back of newly introduced products such as Qingyan Pills, Huoxiang Zhengqi Capsule and Tezacef. Share of the company closed at $1.239 apiece on Friday, up 1.1 cent.
Frasers Logistics & Industrial Trust: Frasers Logistics & Industrial Trust's (FLT) manager announced on Friday that it will be divesting its property at 63-79 South Park Drive, Dandenong South, Victoria, Australia for A$17.25 million (S$16.6 million). The sum is at a 13.1 per cent premium to the property's book value of A$15.25 million as at Sept 30 2018, and a 4.5 per cent premium to the original purchase price of A$16.5 million at FLT's initial public offering in 2016. The counter last traded at $1.16 apiece, down one Singapore cent.
CapitaLand Retail China Trust: CapitaLand Retail China Trust (CRCT) announced on Friday that it will be divesting its 51 per cent interest in a company that owns CapitaMall Wuhu to an unrelated third party for 92.7 million yuan (S$18.3 million). CapitaLand, which holds the remaining 49 per cent interest in the company, will also be divesting its stake for an undisclosed sum. The transaction is based on the company's adjusted net asset value, including its interest in CapitaMall Wuhu of 210 million yuan. The counter last traded at $1.57 a piece, down one cent.
RHT Health Trust: RHT Health Trust announced on Sunday that Paul Hoahing will be appointed as the CEO of the trustee-manager with effect from April 1, 2019. He takes over from Gurpreet Dhillon who is resigning with effect from March 31, 2019. The reason for Mr Dhillon's resignation was not disclosed. Mr Hoahing has been engaged as a consultant for the treasury and finance functions at Parkway Pantai Limited, an indirect wholly owned subsidiary of IHH Healthcare Bhd, since October 2018. He will now take on the additional role of heading RHT Health Trust's trustee manager. Units of the company last tradedn unchanged at $0.016 apiece on Friday.
SLB Development: Matthew Ong, executive director and CEO of SLB Development Limited, was elected the second president of the Association of Catalist Companies (ACC), a non-profit association which draws its membership primarily from companies listed on the Catalist board of the Singapore Exchange. He is replacing founding president Phil Rickard, who had relinquished his position due to personal reasons. Shares of SLB Development last traded flat at $0.145 apiece.
