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Wed, Nov 18, 2020 – 8:56 am
THE following companies saw new developments that may affect their securities trading on Wednesday:
ST Engineering: It said Wednesday morning that it expects full-year revenue for 2020 to be near the midpoint of its previous guidance of a 5 to 15 percent decline from 2019. It also announced Tuesday night that it will reorganize. into two main groups of the new year – Commercial and Defense and Public Security, which replace the sectoral structure of Aerospace, Electronics, Land Systems and Marine. ST Engineering shares closed at S $ 3.80 on Tuesday, up S $ 0.02 or 0.5 percent.
DBS: He said in a stock exchange presentation that his business in India could merge with Indian bank Lakshmi Vilas Bank under a scheme proposed by the Reserve Bank of India. If approved, DBS will inject Rs 2.5 billion (S $ 463 million) into its wholly owned unit DBS Bank India Ltd to support the merger. Separately, DBS announced a series of new labor practices as Singapore banks make flexi-work a permanent post-Covid-19 feature. Shares of DBS closed up 1.8 percent or S $ 0.43 at S $ 24.65 on Tuesday, ahead of the announcement.
CapitaLand Retail China Trust (CRCT): Its prime offer is priced at Singapore $ 1.17, the lower end of the indicative range, the CRCT manager said on Wednesday. Meanwhile, the private placement increased and had an issue price of S $ 1,195. Trading in CRCT units stopped Tuesday morning; the manager raised the halt on Wednesday. The counter ended at S $ 1.28 on Monday.
Singapore Airlines (SIA), SATS: Travel and tourism-related stocks rose Tuesday as positive news from Moderna’s Covid-19 vaccine trials boosted investor sentiment. SIA shares closed at S $ 4.06, jumping 4.91 percent or S $ 0.19, with 26 million shares changing hands. Meanwhile, SATS shares rose 2.76 percent or S $ 0.11 to hit an eight-month high of S $ 4.10 on 9.8 million shares traded; the last time the meter reached this level was in March.
Singapore Telecommunications (Singtel): Arthur Lang, Singtel’s executive director of international business, said in an interview with The Business Times that the telco sees its digital bank offering as a timely boost for its reinvention in Singapore and the region The counter closed at S $ 2.35 on Tuesday, an increase of 1.7 percent or S $ 0.04.
Ellipsiz, Lum Chang Holdings: Engineering solutions company Ellipsiz and the family that controls construction company Lum Chang will bid for the remaining 57.3 percent of the latter’s shares at S $ 0.38 each, while keeping it listed. Trading in the Ellipsiz and Lum Chang shares stopped around 11 a.m. Tuesday and resumed at 4.17pm. M. On the same day. Lum Chang gained S $ 0.03 to finish at S $ 0.38, while Ellipsiz was flat at 32.5 Singapore cents.
Commercial stop: Broadway Industrial Group, which makes precision-machined components, called for a trade suspension Wednesday morning, pending the publication of an announcement. Its counter closed at 12.1 Singapore cents on Tuesday, an increase of 1.7 percent or 0.2 percent.
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