Singapore Stocks to Watch: mm2 Asia, Yangzijiang Shipbuilding, Stamford Land, LHN

Tiger Newspress2022-09-26

THE following companies saw new developments that may affect trading of their securities on Monday (Sep 26):

EMBATTLED entertainment group mm2 Asia announced Sunday (Sep 25) it has entered into a bond subscription agreement with brokerage UOB Kay Hian for a S$54 million bond deal that is exchangeable for shares of mm2’s cinema business, mm Connect.

The exchangeable bonds bear a coupon rate of 5 per cent per annum, payable on a semi-annual basis, with a tenure of 3 years.

Yangzijiang Shipbuilding has received a query from the Singapore Exchange Regulation (SGX RegCo) at 3.40pm on Sept 23 after shares in the group surged to $1.265 as at 3.36pm, 15% higher than its share price of $1.10 as at Sept 22.

In its filing, the market regulator queried the Mainboard-listed group on the “unusual price movements” and asked the group to confirm its compliance to the Mainboard rules.

STAMFORD Land Corporation on Friday (Sep 23) confirmed the sale of its upscale hotel in Sydney’s central business district to JDH Capital, a private principal investment company, for A$210.5 million (about S$197.3 million).

The mainboard-listed company said it has entered into a valid binding agreement for the sale and purchase of Sir Stamford at Circular Quay, its 10-storey freehold property located at 93-97 Macquarie Street.

REAL estate management services provider LHN announced on Friday (Sep 23) that indirect wholly owned subsidiary Coliwoo West is acquiring a property at Arab Street in Singapore for S$6.4 million.

The property, located at 48 Arab Street, has a total land area of 122.9 square metres with a remaining lease of about 29 years.

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