The Business Times

Stocks to watch: MCT, MNACT, mm2 Asia, China Everbright, Hanwell, Koh Brothers Eco

Paige Lim
Published Mon, Jan 3, 2022 · 08:50 AM

THE following companies saw new developments that may affect trading of their securities on Monday (Jan 3):

Mapletree Commercial Trust (MCT), Mapletree North Asia Commercial Trust (MNACT): N2IU RW0U The managers of MCT and MNACT have proposed a merger that will propel the combined entity to become one of Asia's 10 largest real estate investment trusts (Reits), they announced in a bourse filing on the morning of Dec 31, 2021. The merged entity, to be named Mapletree Pan Asia Commercial Trust, will have a theoretical market capitalisation of approximately S$10.5 billion. Units of MCT closed flat at S$2 while MNACT ended unchanged at S$1.11 on Dec 27, before both Reits called for a trading halt on Dec 28. Both Reits resume trading of their units on Monday.

mm2 Asia: 1B0 The entertainment company announced in a bourse filing on Monday that its sale and purchase agreement with local investment firm Kingsmead Properties to sell its cinema business has lapsed. Kingsmead will instead exchange its deposit of S$6 million into newly issued mm2 Asia shares at a share price of S$0.08 per share. The counter closed S$0.001 or 1.9 per cent down at S$0.051 on Dec 31 before the announcement.

China Everbright Water: U9E The environmental services company on Monday said it has bagged a waste water treatment project at the Ji'nan International Centre for Medical Sciences in Shandong, China worth 319.5 million yuan (S$67.8 million). The project has a concession period of 30 years, including a 1-year construction period. Shares of China Everbright closed at S$0.315, up S$0.01 or 3.3 per cent on Dec 31 before the announcement.

Hanwell: DM0 The manufacturer and distributor of consumer goods announced in a bourse filing on Dec 31 that it has acquired an 80 per cent stake in both CKH Food Trading, a food distributor, and 123 Mart, a grocery minimart, for a total of S$3.3 million. Shares are being acquired from founder Chua Kheng Hwee and the acquisition will be effective from Jan 1. Chua will continue to hold the remaining 20 per cent of total issued shares in CKH Food Trading and 123 Mart. Hanwell's shares closed at S$0.42, up 3.7 per cent or S$0.015 on Dec 31, before the announcement was made.

Koh Brothers Eco Engineering: 5HV The sustainable engineering solutions provider's subsidiary Oiltek International lodged its preliminary offer document for an initial public offering on the Catalist board of the Singapore Exchange on Dec 31. Koh Brothers Group and Penta-Ocean Construction are the controlling shareholders of Koh Brothers Eco Engineering with stakes of 54.3 per cent and 28.8 per cent, respectively. Shares of Koh Brothers Eco Engineering closed at S$0.05, up S$0.001 or 2 per cent on Dec 31, before the announcement was made.

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Trading halt: Asia-Pacific Strategic Investments has called for a trading halt on Monday, pending the release of an announcement. Its shares closed flat at S$0.002 on Dec 31.

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