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Wed, September 30, 2020 – 8:57 am
THE following companies saw new developments that may affect their stock trading on Wednesday:
DBS: The local lender announced that it will repay all its outstanding S $ 800 million preferred shares on November 23. The redemption price will be an amount equal to the liquidation preference of S $ 100 per preferred share, together with any accrued but unpaid dividends. Shares of DBS closed down S $ 0.24 or 1.2% at S $ 19.98 on Tuesday.
CapitaLand Mall Trust (CMT), CapitaLand Commercial Trust (CCT): CMT and CCT shareholders voted Tuesday in favor of the proposed merger between the two real estate investment trusts (Reits), although CCT shareholders had a lower approval ratio than CMT shareholders. Both Reits have requested to lift the trade stops they requested on Tuesday morning, pending the release of announcements related to their extraordinary general meetings. CCT units last traded at Singapore $ 1.69 on Monday, while CMT units last traded at Singapore $ 1.99.
Singapore Airlines (SIA): The national airline has abandoned the idea of a “flight to nowhere” and will instead offer experiences on the ground. It has launched three programs to give the public a glimpse of what goes on behind the scenes at the company and provide them with a dining experience on board in a stationary A380 superjumbo aircraft or at home. Shares of SIA rose 0.01 Singapore dollars or 0.3% on Tuesday to close at 3.42 Singapore dollars.
Keppel Corp: The conglomerate has identified assets valued at S $ 17.5 billion that can be “monetized over time and funneled into growth initiatives,” said Keppel Chief Executive Officer (CEO) Loh Chin Hua. Keppel will seek to unlock the value of these assets worth S $ 3-5 billion over the next three years. The counter closed at S $ 4.30 on Tuesday, an increase of S $ 0.11 or 2.6%.
Teckwah Industrial Corporation: The closing date of Clementine Investments’ conditional cash voluntary offer of 65 Singapore cents per share for the privatization of Teckwah Industrial Corporation has been extended to October 13 from September 30. 28.
Envictus International holdings: The group CEO of the food and beverage company, Khor Sin Kok, will resign on October 1 following the expiration of his leave of absence on September 30. Envictus shares fell 2.4 Singapore cents or 19.7 percent to close at 9.8 cents on Tuesday, ahead of this announcement.
Commercial stop: Catalist-listed kitchen equipment supplier Kitchen Culture Holdings filed for a trade suspension Wednesday morning before the market opened, pending the release of an announcement. The counter closed at 13.5 Singapore cents on Tuesday, down 0.2 percent or 1.5 percent.
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