Company briefs: Singapore Exchange

Singapore Exchange

The Singapore bourse reported an increase in trading activities last month.

Total securities market turnover value grew 7 per cent in September over the same month a year ago to $22.5 billion, with the trading of stocks on the Straits Times Index making up 73 per cent of total trading value.

The total volume of derivatives traded was 14.1 million, up 33 per cent year-on-year.

There were 24 new bond listings last month, raising $10.5 billion, with foreign issuers accounting for 79 per cent.

Separately, the SGX has appointed UBS as the general counter-party for SGX Bond Pro, its over-the-counter electronic venue for trading Asian bonds. UBS will execute trades with authorised counter-parties that are matched on the SGX Bond Pro platform. This enables authorised counter-parties who have no bilateral agreements in place to trade on the platform while maintaining pre- and post- trade anonymity. The platform allows dealers and institutional investors to trade in Asian G3 bonds. It is expected to start trading in this quarter.


TEE Land

Developer TEE Land's first-quarter net profit plummeted 69.2 per cent year-on-year to $885,000 amid a challenging property market.

Revenue for the three months to Aug 31 was $3.352 million, down 47.9 per cent from a year earlier, due mainly to lesser revenue recognised for development projects.

Earnings per share was 0.2 cent, down from 0.64 cent in the corresponding quarter last year. Net asset value per share was 34.8 cents as at Aug 31, down slightly from 34.9 cents on May 31.

The company expects two well-sold joint venture projects to obtain Temporary Occupation Permit status in this quarter.

Separately, the firm has agreed to buy two freehold residential plots at 31 and 31A Harvey Avenue, paying $4.225 million for each plot of approximately 513 sq m. The acquisition is expected to be completed by January.


Lifebrandz

Nightspot operator Lifebrandz intends to transfer its listing from the mainboard of the Singapore Exchange to the Catalist board, it said yesterday. Shareholders and the Singapore Exchange will have to approve the move. Lifebrandz advised investors to exercise caution when trading its shares as there is no certainty approval for transfer will be obtained or if the transfer will be undertaken at all.

A version of this article appeared in the print edition of The Straits Times on October 10, 2015, with the headline 'Company briefs: Singapore Exchange'. Print Edition | Subscribe