Stocks to watch: Top Glove,, Addvalue Technologies, Gaylin Holdings

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

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday (July 9):

Top Glove: Malaysian rubber glove manufacturer Top Glove said on Friday that it has sued Adventa Capital and two directors of a recently acquired firm - Low Chin Guan and Wong Chin Toh - for up to RM715 million (S$240 million) over an alleged "conspiracy" to defraud Top Glove and its unit over the acquisition of Aspion earlier this year. Catalist-listed Holdings suspended trading with immediate effect on Friday evening, after it said it has received queries from its creditors, suppliers and stakeholders on its financial position. This comes after its controlling shareholder missed a critical payment at end-June.

Addvalue Technologies: Addvalue Technologies has reported a wider loss of US$12.8 million for the financial year ended March 31, compared to US$11.1 million as announced on May 30, after its financial results for FY2018 were audited, it announced before the market opened on Monday. As a result of the reduction in total equity, Addvalue's net asset value per share as at March 31, 2018 fell to 0.42 US cent from 0.52 US cent.

Gaylin Holdings: Oil and gas contractor Gaylin Holdings has entered into an agreement to acquire industry peer Amos International Holdings, valued at $48.6 million, in an all-shares deal, it announced on Monday before the market opened.