ISR, Metro, FHT, HLH, GKE, Azeus

SINGAPORE (Oct 12): Here are some factors and stocks that could move the market this Wednesday morning:

ISR Capital says the Singapore Exchange will allow the $12 million placement of more than 140 million shares at 8.5 cents each to go ahead only if ISR disclose changes in shareholding interest of the new investors – and their beneficial shareholders – before and after the placement. ISR is in the process of acquiring a 60% stake in a company that holds a rare earth mining concession in Madagascar from REO Magnetic for a total of $40 million. The stock closed at 25.5 cents on Tuesday.

Metro Holdings says it is conserving its cash for its capital-intensive property division. The response was to an open letter from its shareholder Quarz Capital Management which is calling for Metro to return cash. Metro said its focus on property development and investment with long development cycles and that its key business strategy lies in expanding its portfolio and geographical presence. Insufficient cash will hinder this strategy. Shares of Metro closed at $1.01.

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• Metro reports lower 1HFY2024 earnings, acquires 20% stake in VisionCrest for up to $40 million
• AEM and UMS on an upswing; Azeus gives best returns
• GKE Corp reports FY2023 earnings of $3.91 million

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