Stocks to watch: CDL, Addvalue Tech, Banyan Group, Multi-Chem

City Developments Limited (CDL) announced on Thursday that it will disclose the results of its strategic review before the market opens on September 28th. The property company had previously stated its intention to revamp its strategy and improve communication of its value to investors after facing challenges and internal disputes last year. CDL's shares rose 1.4% to S$8.14 following the announcement.

Multi-Chem, a mainboard-listed IT distribution firm, disclosed on Thursday that its CEO, CFO, and two senior employees had been interviewed by the Corrupt Practices Investigation Bureau (CPIB). The independent directors of Multi-Chem clarified that they are not directly involved in the ongoing investigation. Multi-Chem's shares remained unchanged at S$4.34 after the news.

Addvalue Technologies, a satellite communications provider, addressed shareholder concerns regarding financial transparency and strategic investor involvement ahead of its extraordinary general meeting scheduled for September 24th. The company specifically mentioned the proposed spin-off listing of its wholly-owned subsidiary, Addvalue Solutions, on the Nasdaq stock exchange. Addvalue Technologies' shares gained 3.1% to S$0.197 by Thursday.

Banyan Group, a hospitality firm, revealed on Thursday a strategic partnership with Newmark Hotels & Reserves, a Cape Town-based hospitality management company, and the acquisition of a majority stake in Newmark through a phased ownership structure leading to full ownership over time. Newmark manages 26 hotels, lodges, and reserves across seven countries. Banyan Group's shares remained flat at S$0.495 after the announcement.