Singapore Stocks to Watch: IHH Healthcare, Venture, Starhill Global Reit, Cordlife

The following companies saw new developments that may affect trading of their securities on Friday (Dec 1):

IHH Healthcare on Thursday (Nov 30) reported earnings of RM532.1 million (S$152.7 million) for the third fiscal quarter ended September, more than double the earnings of RM251.8 million in the corresponding year-ago period.

On a per-share basis, this translated to earnings of 6.04 sen, versus 2.78 sen in the previous year.

For the nine-month period, IHH’s net profit was up 64 per cent year on year to RM2.2 billion, against RM1.4 billion. 

Venture Corporation said on Thursday (Nov 30) that its board of directors has established a share buyback plan to purchase up to 10 million ordinary shares of the company. 

This plan was authorised by the board on Nov 29, following the approval of Venture’s shareholders of the share purchase mandate at the annual general meeting on Apr 27, the company said in a bourse filing. 

Under the mandate, the company can buy up to about 14.5 million shares, which translates to 5 per cent of the total number of issued shares of the company as at the date of the mandate.

STARHILL Global Reit has renewed its current master lease with Takashimaya manager Toshin Development Singapore due to expire in June 2025 for an initial term of 12 years.

The Reit manager announced this in a bourse filing on Thursday (Nov 30).

Beyond its expiry on Jun 7, 2037, the master lease may be further renewed by either party for an additional six years, and for a further three years thereafter, at the option of Toshin.

Consumer healthcare company Cordlife Group was on Thursday (Nov 30) issued a notice to stop collecting new cord blood and human tissue after a Ministry of Health check found seven of the company’s 22 cord-blood storage tanks being kept at temperatures above acceptable limits.

The ministry said in a statement that the company has been barred from collecting, testing, processing and storing new cord-blood or tissue samples for six months. The suspension is to start within two weeks of the notice.

The mainboard-listed group will also not be allowed to run new types of tests on patients for the duration of the suspension. The company has to file its written representations within 14 days, said MOH.