Company briefs

Petronas owns stakes in five listed companies on the local stock exchange. PHOTO: BLOOMBERG
Petronas owns stakes in five listed companies on the local stock exchange. PHOTO: BLOOMBERG

ST Engineering

Mainboard-listed ST Engineering will be reorganised into two main clusters from next year - commercial, and defence & public security. They replace the sector structure of aerospace, electronics, land systems and marine.

ST Engineering said in a bourse filing on Tuesday that it will position the group for its next phase of growth, and propel it towards becoming a global technology, defence and engineering powerhouse.

It said in a business update yesterday that it expects full-year revenue to be around 10 per cent lower for FY2020 than in FY2019. As at September, its order book stood at $15.8 billion.

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Petronas

Petroliam Nasional has asked a number of banks to submit proposals for what it ought to do with stakes in its Kuala Lumpur-listed companies, sources said.

The state-owned oil and gas major could explore secondary share placements or issue exchangeable bonds, they said. Petronas, as the company is known, could choose the banks to help with the planned deal as early as this month.

Petronas owns stakes in five listed companies on the local stock exchange, for a total market value of about US$22.8 billion (S$30.6 billion) as at Monday.

BLOOMBERG


Credit Bureau Asia

Credit Bureau Asia, a credit and risk information solutions provider, has lodged a preliminary prospectus for a mainboard listing on the Singapore Exchange. Its business has two core segments, namely, the financial institution data business and the non-financial institution data business, covering both consumer and commercial credit risk information. The group believes it has "strong growth prospects" in the light of the impending issuance of digital banking licences and the upcoming commencement of the Credit Bureau Act in Singapore.

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A version of this article appeared in the print edition of The Straits Times on November 19, 2020, with the headline 'Company briefs'. Print Edition | Subscribe