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Mon, Aug 31, 2020-9: 25 am
UPDATED Mon, Aug 31, 2020-9: 47 am
THE following companies saw new developments that may affect their securities trading on Monday:
Keppel Corporation: Keppel, which owns a 40 percent stake in oil and gas company KrisEnergy, said Sunday that it is prepared to support the final restructuring proposal for the debt-stricken company. KrisEnergy had previously warned that it is likely to face liquidation without a comprehensive restructuring. Shares in Keppel closed at S $ 4.63 on Friday, an increase of S $ 0.06 or 1.3%.
Industrial real estate investment trust that complies with the Sabana law (Sabana Reit), ESR-Reit: The Monetary Authority of Singapore clarified on Friday that its regulatory framework does not prohibit a group of shareholders from owning substantial stakes in two real estate investment trust (Reit) managers who manage Reits invested in the same property class. This was in response to inquiries about the proposed merger of Sabana Reit and ESR-Reit, whose managers have the same sponsor, ESR Cayman. ESR Reit units ended Friday unchanged at 38.5 Singapore cents, while Sabana Reit units ended unchanged at 37 cents.
OCBC Bank: The lender has filed applications with the Singapore High Court to place KS Energy and its main subsidiary, KS Drilling, under receivership, although the troubled offshore and marine group suggests an alternative solution. OCBC shares closed at S $ 8.71 on Friday, down S $ 0.10 or 1.2%.
Wing Tai Properties: The motherboard-listed company reported a net loss of S $ 16.8 million late on Friday for the second half ending June 30, compared to a net profit of S $ 28.4 million. in the same period of the previous year. Wing Tai shares closed at S $ 1.71 on Friday, an increase of S $ 0.01 or 0.6%.
CDL Hotel Trusts (CDLHT): Occupancy at W Singapore – Sentosa Cove, recently acquired by CDLHT, has reached between 60% and 65% on Fridays and Saturdays since the restart of the home vacation business, while demand for suites is high, said the CEO of the manager Vincent Yeo in a recent interview. with The Business Times. CDLHT stapled securities ended at S $ 1.05 on Friday, an increase of S $ 0.02 or 2 percent.
CapitaLand Mall Trust (CMT), CapitaLand Commercial Trust (CCT): The Singapore Stock Exchange (SGX) on Friday granted CMT approval in principle for the listing of up to 2.78 billion new units as partial consideration for their merger through a trust scheme with CCT, the CMT manager said in a file. trading on Monday. SGX also reported Friday that it has no objections to CCT’s delisting proposal, subject to the trust scheme taking effect, the CCT manager said Monday. Units of CMT ended Friday at S $ 1.90, an increase of S $ 0.04 or 2.2%. CCT units ended at S $ 1.64, an increase of S $ 0.04 or 2.5%.
Lippo Malls Indonesia Retail Trust (LMIRT): The LMIRT manager has reached an agreement with its sponsor’s wholly owned subsidiary to purchase the Lippo Mall Puri strata title units at a revised lower price of Rs 3.5 trillion (S $ 330.2 million ). Earlier, the LMIRT manager proposed to acquire the mall for Rs 3.7 trillion. LMIRT units were trading at 11.7 Singapore cents at 9:34 a.m. M. From Monday, a decline of 0.1 cent or 0.9 percent.
DBS: The bank has reached an agreement with real estate and investment company Hongkong Land to convert a HK $ 1 billion (S $ 175.8 million) five-year revolving credit facility into a sustainability-linked loan. The credit interest rate will be indexed based on environmental, social and governance objectives, both parties said in a joint statement on Friday. DBS shares closed at S $ 20.76 on Friday, an increase of S $ 0.30 or 1.5 percent.
Singapore Airlines: The airline owns one of eight Boeing 787 Dreamliner aircraft that have “distinct manufacturing problems.” SIA’s plane is not in service and the airline will work closely with Boeing on a solution, it said in a statement Friday. Shares of SIA closed at S $ 3.68 on Friday, an increase of S $ 0.05 or 1.4%.
Top Glove Corporation: The glove maker said late Friday that the verification of its work practices had been completed, in order to lift an arrest warrant imposed by US authorities. The report is expected to be available in 10 days. Shares of Top Glove closed at S $ 8.53 on Friday, down S $ 0.05 or 0.6%.
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