Stocks to watch: mm2 Asia, Yongnam, Fortress Minerals, Parkway Life Reit, IHH Healthcare

THE following companies saw new developments that may affect trading of their securities on Thursday:

mm2 Asia 1B0 : 1B0 0% : The entertainment group's directors said on Thursday morning there are "no issues and/or concern" with the company's ability to operate on a going concern basis, after its independent auditor on Tuesday registered "material uncertainty casting significant doubt" regarding this. The stock traded down 11.1 per cent or 0.9 Singapore cent lower on Wednesday, closing at 7.2 cents.

Yongnam Holdings AXB : The steel fabricator gave notice of three straight years of losses in a regulatory filing on Wednesday, while its independent auditor also noted material uncertainty over the company's ability to continue as a going concern. Shares of Yongnam closed at 5.9 Singapore cents on Wednesday, down 0.1 cent or 1.7 per cent, before the announcement.

Fortress Minerals OAJ : The Malaysian producer and exporter of iron ore concentrate announced on Wednesday it saw a record revenue of US$17.3 million for the first quarter ended May 31, nearly two-and-a-half times the US$7.1 million figure for the year-ago period. Net profit more than trebled to US$7.2 million, up from US$2.2 million for the year-ago period. Shares of Fortress Minerals closed down S$0.01 or 1.6 per cent at S$0.63 on Wednesday, before the results were released.

Parkway Life Reit C2PU and IHH Healthcare Berhad Q0F : The real estate investment trust (Reit) and the healthcare group are extending their collaboration for another 20 years, with Parkway Life Reit also injecting up to S$150 million in renewal capital expenditure, and receiving the right of first refusal for Mount Elizabeth Novena Hospital. Units in Parkway Life Reit closed flat at S$4.77, and shares in IHH Healthcare closed down S$0.01 or 0.6 per cent at S$1.80 on Wednesday before the news.

IReit Global UD1U : The preferential offering of the Reit closed on Monday with valid acceptances and excess applications amounting to 151.2 per cent of the offering, the Reit's manager said in a regulatory filing late on Wednesday night. Units of IReit Global closed down one Singapore cent or 1.6 per cent at 63.5 cents on Wednesday, before the announcement.

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iFast Corporation AIY : The wealth management platform cited earlier announcements about a successful tender bid for a Hong Kong project and a consortium application for a digital bank licence in Malaysia, while responding to queries from the Singapore Exchange Regulation about unusual price movements in its shares on Wednesday. iFast shares jumped after lunch time on Wednesday to an intra-day high of S$9.65, before closing at S$9.30, up S$0.30 or 3.3 per cent. The stock has been rising steadily since July 8, when it closed at S$8.08.

Sembcorp Industries U96 : Sembcorp Floating Solar Singapore, a wholly-owned subsidiary of Sembcorp Industries, and Singapore's national water agency PUB on Wednesday announced the official opening of the Sembcorp Tengeh Floating Solar Farm at the Tengeh Reservoir. The farm will contribute to Singapore's goal of quadrupling solar energy deployment by 2025. Shares of Sembcorp Industries closed at S$2.15 on Wednesday, up S$0.02 or 0.9 per cent, after the announcement.

Pan Ocean AZY : The mainboard-listed shipping company said on Wednesday it has entered into a time charter contract for two liquefied natural gas carriers with Shell Tankers (Singapore). The estimated total sales for the transaction was US$319 million. Shares of Pan Ocean closed flat at S$8.15, after the announcement.

Trading halts: Sanli Environmental on Thursday requested a trading halt, pending the release of an announcement. Shares of Sanli Environmental closed flat at 7.1 cents on Wednesday.

GS Holdings also called for a trading halt on Thursday, pending the release of an announcement. Shares of GS Holdings closed at 31.5 cents on Wednesday, down 3.5 cents or 10 per cent.