Stocks to watch: Genting Singapore, Jardine Matheson, Mandarin Oriental, Parkway Life Reit

The following companies saw new developments that may affect trading of their securities on Tuesday (Oct 21):

Genting Singapore: The mainboard-listed group on Monday named Si Chen as chief operating officer (COO) of its wholly owned subsidiary Resorts World Sentosa, which will be effective Dec 1. This comes after the position has been vacant for three years. The last COO was Alan Teo, who departed from the company in September 2022. The counter closed last Friday flat at S$0.725, prior to the announcement.

Jardine Matheson, Mandarin Oriental: The company announced on Friday that it will be delisting Mandarin Oriental at US$3.35 per share. This brings the hotel group’s total valuation to around US$4.2 billion. The privatisation offer represents a 62.6 per cent, 65.8 per cent and 70.9 per cent premium over Mandarin Oriental’s volume-weighted average price for the one-month, three-month and six-month period, respectively. The wholly owned subsidiary of Jardine Matheson – Bidco – will acquire the remaining 11.96 per cent of Mandarin Oriental shares it does not already own. In Singapore, shares of Jardine Matheson closed on Friday 0.8 per cent or US$0.48 higher at US$61.13. Mandarin Oriental ended 0.4 per cent or US$0.01 higher at US$2.40.