Stocks to watch: Bumitama Agri, Wee Hur Holdings, Indofood Agri Resources
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Monday (Oct 19):
In the latest developments affecting stocks to watch on Monday (Oct 19), Bumitama Agri reported that preliminary investigations had found no evidence linking its operations to the forest fires in Indonesia or the haze affecting Singapore. The company clarified that a fire in one of its concessions had originated outside its boundaries before spreading into the area.
Shares of Bumitama Agri fell 4.8 per cent on Friday before the trading halt, but resumed trading on Monday. Meanwhile, Wee Hur Holdings announced its entry into Singapore's purpose-built student accommodation market with a 1,398-bed Y-Suites development at Nanyang Technological University (NTU). The company secured a Letter of Award from NTU for the project following a competitive bidding process, and its shares rose 3.5 per cent on Friday ahead of the announcement.
Lastly, Indofood Agri Resources confirmed in a regulatory filing that it continuously monitors and identifies hotspots on its plantations to prevent fires that may contribute to transboundary haze, and that it had not received any allegations or inquiries from government authorities or the media regarding the haze. Its shares increased by 1.6 per cent on Friday.
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