UPDATE: Singapore stocks to watch Thursday: OUE Lippo Healthcare, China Environment, Jumbo, AHT

The skyline in Singapore’s central business district.The skyline in Singapore’s central business district.

These are Singapore stocks which may be in focus on Thursday 13 December 2018:

OUE Lippo Healthcare

OUE Lippo Healthcare said on Wednesday that it entered a non-binding letter of intent with Shenzhen-listed China Merchants Shekou Industrial Zone Holdings, or CMSK, to develop and operate a high-end international hospital in Prince Bay, Shenzhen, in China.

Read more: OUE Lippo Healthcare enters tie-up with China Merchants Group to develop Shenzhen hospital

China Environment

China Environment said on Thursday that its directors had received a letter from Singapore’s Accounting and Corporate Regulatory Authority (ACRA) saying the authority was investigating possible offences under the Companies Act.

Read more: China Environment: Singapore authorities investigating possible Companies Act offences

Ascendas Hospitality Trust

Ascendas Hospitality Trust has completed the acquisition of 98.8 percent in Trust No.1, which owns all of Ibis Ambassador Seoul Insadong, located in Seoul, South Korea, the trust manager said in a filing to SGX after the market close on Wednesday.

Hong Leong Asia

Hong Leong Asia said on Wednesday that its wholly owned subsidiary Well Summit Investments purchased 76,056 shares, or a 0.19 percent stake, of New York Stock Exchange-listed CYI at US$0.10 each between 3 and 11 December. The total consideration was US$988,676, it said in a filing to SGX after the market close on Wednesday.

After the purchase, Hong Leong Asia’s aggregate holding in CYI has risen to 17.04 million ordinary shares and one special share, representing around 41.70 percent of CYI as of 11 December, it said.

Del Monte Pacific

Del Monte Pacific reported on Thursday a fiscal second quarter net profit of US$8.42 million, swinging from a net loss of US$2.82 million in the year-ago period, despite lower sales, as margins rose and expenses fell.

Read more: Del Monte Pacific reports fiscal 2Q net profit, swinging from year-earlier loss

Sunpower Group

Sunpower Group issued on Wednesday a notice of a special general meeting to be held 28 December to consider adopting a share buyback mandate for up to 10 percent of the issued share capital, excluding any treasury shares.

Jumbo Group

Iconic chilli crab purveyor Jumbo Group said on Wednesday that it opened a new Jumbo Seafood restaurant outlet in Singapore at the high-end ION Orchard mall in the city-state’s tony shopping district.

Read more: Jumbo Group opens new seafood outlet in Singapore

MeGroup

Malaysian auto dealership operator MeGroup reported on Wednesday that its fiscal first half net profit dropped 64 percent on-year to 2.7 million ringgit, despite a surge in revenue.

Read more: MeGroup reports fiscal first half net profit dropped 64 percent on year-ago gain, lower margin

This article was originally published on Thursday 13 December 2018 at 7:39 A.M. SGT; it has since been updated to include an item on Del Monte Pacific. 

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