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Mon, September 28, 2020-9: 28 am
THE following companies saw new developments that may affect their securities trading on Monday:
Olam International, DBS: The agri-food giant said on Monday it obtained a club loan tied to Singapore’s average overnight rate of S $ 200 million from DBS and the Industrial and Commercial Bank of China, Singapore branch. At 9.17 a.m. On Monday, Olam’s shares were trading at S $ 1.27, an increase of S $ 0.01 or 0.8%, while DBS shares were down S $ 0.06 or S $ 0.3 % at Singapore $ 19.95.
Mapletree North Asia Business Trust (MNACT): The real estate investment trust is acquiring a 50 percent stake in an office building in Seoul’s Gangnam business district for 228.9 billion Korean won (267.6 million Singapore dollars). Units of MNACT closed unchanged at 89.5 Singapore cents on Friday, prior to this announcement.
iFast Corp: The main board-listed financial services firm expects to launch a private fund management business in China early next year, the board said on Friday. Shares of iFast added S $ 0.07 or 3.1 percent to S $ 2.35 on Friday, before the latest announcement.
SIIC Environment holdings: The motherboard-listed company has signed new contracts involving wastewater treatment plants in China’s Zhejiang and Heilongjiang provinces. Shares of SIIC Environment closed down 0.2 Singapore cents or 1.1 percent at 18.8 cents on Friday, ahead of the news.
iX Biopharma: The pharmaceutical company said on Monday it obtained a license in Australia to carry out testing of its products internally, improving speed to market and potentially saving on testing costs. Shares in iX Biopharma, which is listed on Catalist, closed unchanged at S $ 0.24 on Friday.
Lian Beng: Shareholders have raised questions about the acquisition of Thye Hong Center by SLB Development, a subsidiary of Lian Beng. Among other things, shareholders questioned whether the move was an indicator that the group will be able to resume distributing dividends. Shares of Lian Beng fell 1.3 percent or Singapore half a cent to 37 cents on Friday.
Geographic energy resources: The motherboard-listed coal miner’s offer to buy a company in Indonesia has been embroiled in lawsuits involving claims of Rs.500 billion (S $ 46.8 million). The company’s shares lost 0.2 Singapore cents or 1.9 percent to 10.2 cents on Friday, ahead of the news.
Southern Alliance Mining (SAM): The higher taxes affected SAM’s annual forecast, in the iron ore producer’s first set of results since its initial public offering in June this year. The Malaysia-based company’s net profit fell 30 percent to RM62.1 million (S $ 20.5 million) for the full year ended July 31, from RM88.2 million a year ago. SAM’s shares closed at S $ 0.30 on Friday, an increase of S $ 0.02 or 7.1 percent, following the announcement of its results.
Singapore Telecommunications (Singtel): The telecommunications company’s unit, NCS, is targeting regional growth, NCS CEO Ng Kuo Pin said. The Business Times. The ICT service provider is also rebranding itself as a company that offers services in the commercial space. At 9.23 a.m. on Monday, Singtel’s shares fell S $ 0.01 or 0.5 percent to trade at S $ 2.13.
Frasers Centrepoint Trust (FCT): The FCT manager, which trades on the main board, has justified Bedok Point’s proposed divestment in response to shareholder inquiries, ahead of the trust’s extraordinary general meeting to be held at 10 am Monday. The proposed sale of Bedok Point for S $ 108 million had raised doubts among shareholders as it was acquired for S $ 129 million.
Last week, FCT’s manager also provided updates on his portfolio tenant sales, buyer traffic and asset valuation. FCT requested a cessation of operations on Monday morning before the market opened, pending the announcements. FCT units closed at S $ 2.52 on Friday, down S $ 0.01 or 0.4%.
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