Stocks to watch: UOB, CapitaLand, Chuan Hup, Hatten Land, ASL Marine, Sakae

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Friday :

CapitaLand: A unit of the property developer has divested its 100 per cent interest in China-incorporatede Citadines Ming Zhu Property to an unrelated party for 99.2 million yuan . Mingzhu Investments , the CapitaLand unit, sold CMCQ to Zhongshen Tianjin Commercial Management. Following the divestment, CMCQ, which is part of CapitaLand's capital recycling strategy, is no longer a wholly owned subsidiary of the property developer. CapitaLand shares closed at $3.

Chuan Hup Holdings: The mainboard-listed investment company on Thursday posted a net loss of US$26.4 million for the financial year ended June 30, widening from US$913,000 a year ago. This was mainly due to share of losses from an associate, which amounted to US$19.9 million. Revenue also dived 67.7 per cent to US$18.3 million from US$56.6 million for FY2018, due to a decrease in revenue from property sales. The closed at $0.27 on Thursday, down 0.5 cent or 1.82 per cent.

Koda: The furniture maker on Thursday posted a net profit of US$5.3 million for the financial year ended June 30, down 1.9 per cent from US$5.4 million a year ago. Revenue grew 10.5 per cent to US$57.9 million on higher sales from key export markets, while cost of sales rose due to increased costs of material and labour, as well as a change in sales mix and research and development costs. Koda shares closed at $0.640 on Thursday, down two cents or 3.03 per cent.

Source: News Formal (newsformal.com)

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