[ad_1]
Thursday, December 31, 2020 – 8:58 am
UPDATED Thu, Dec 31, 2020 – 10:12 am
THE following companies saw new developments that may affect their securities trading on Thursday:
Singapore Telecommunications (Singtel): The telecommunications company has reorganized its structure to capture new digital growth, and the changes will take effect from January 1, 2021. The key to this is the creation of a 5G enterprise portfolio. Singtel’s shares were trading unchanged at S $ 2.32 as of 9:07 am on Thursday after the announcement.
Singapore Airlines (SIA): The flag carrier flew the first of its six SilkAir Boeing 737 MAX jets back to Changi Airport on Wednesday. The milestone, announced Wednesday, indicates that these aircraft could return to commercial use in the near future after being on the ground since March last year. Separately, the Singapore Civil Aviation Authority said on Wednesday that it is introducing stricter measures that will see the aircrew of Singaporean carriers undergo further testing for Covid-19 and minimize their contact with locals during the layover. SIA shares closed S $ 0.09 or 2.1% higher at S $ 4.33.
DBS, Keppel Corporation: KrisEnergy has extended the maturity of its DBS revolving credit facility (RCF) to June 30, 2021. In conjunction with this, Keppel and the bank have extended their bilateral contract, under which Keppel has the key economic risk in the RCF, for the same period. Keppel said this is intended to support KrisEnergy’s management’s efforts to carry out a consensual debt restructuring plan. At the close on Wednesday, before the announcements, Keppel shares rose S $ 0.04 or 0.7 percent to S $ 5.45, while DBS advanced S $ 0.03 or 0.1 percent to S $ 25.23.
Boustead Singapore, Chip Eng Seng Corp: Engineering services group Boustead Singapore said late Wednesday that it sold its wholly owned water solutions unit to Chip Eng Seng for approximately S $ 7.3 million. Shares of Chip Eng Seng, which has businesses in civil infrastructure and construction, closed unchanged at S $ 0.43, while Boustead Singapore closed 0.6 percent or Singapore’s 0.5 percent higher at 80. ,5 cents.
City Developments Limited (CDL): The real estate giant has secured a 5-year S $ 470 million green revolving credit facility to refinance its flagship Republic Plaza commercial property and make loans to other eligible green projects. On the other hand, another director of CDL has stopped citing concerns about the company’s investment in Sincere Property Group. CDL shares closed S $ 0.03 or 0.4% higher to close at S $ 8.06 on Wednesday after these announcements.
UOL Group: The property developer and investment company announced several leadership changes after Wednesday’s close. Wellington Foo Thiam Fong will be retiring as CFO and Group Company Secretary from UOL effective December 31. He is succeeded by Deputy Kwa Bing Seng, who will be promoted to the post of Foo. UOL Senior Managing Director Yeong Sien Seu will be promoted to Chief Legal Officer and Secretary of the company. The counter closed S $ 0.09 or 1.2% higher at S $ 7.79.
Koufu Group: The food and beverage group said on Wednesday that it is selling its stake in the Indonesian joint venture, Super Tea Indonesia, to cut costs and streamline operations, although it will continue its licensing agreement with the company. Koufu anticipates that operating profit for the second half of 2020 will be “significantly lower” than in the prior year period. It will also record a higher impairment loss for property, plant and equipment, as well as right-of-use assets for fiscal year 2020. The counter closed flat at S $ 0.68, prior to the announcement.
OUE Lippo Healthcare: The Catalist-listed company announced Wednesday that it will jointly manage an OB-GYN hospital in Changshu, China, with Hong Kong’s China Merchants Group. Their 50:50 joint venture will house 140 beds, with a gross floor area of approximately 25,000 square meters, and is expected to enter service in 2023. OUE Lippo shares closed 0.3 Singapore cent or 10 percent higher at 3 , 3 cents.
Commercial stop: Sunpower Group requested a halt to operations at the close of Wednesday, pending the publication of an announcement. Shares of the environmental solutions provider closed the day at S $ 0.80 on Wednesday, an increase of S $ 0.01 or 1.3%.
[ad_2]
