Hong Leong Asia

Shares of Hong Leong Asia - the trade and industry arm of the Hong Leong group - surged yesterday, drawing a query from the bourse operator regarding its "unusual price movements".

As at 1.56pm, the mainboard-listed counter had jumped 7.9 per cent, or five cents, to trade at 68 cents, with some 1.8 million shares changing hands.

ShareInvestor data showed that there were no married deals and no large transactions, defined as those valued at $150,000 or more, done by that time.

The stock ended 6.35 per cent higher at 67 cents yesterday.

THE BUSINESS TIMES

UOB

United Overseas Bank (UOB) has secured over $3 billion of foreign direct investment into Vietnam in alliance with Vietnam's Foreign Investment Agency (FIA).

It is also facilitating an additional pipeline of more than $1.5 billion under an expanded memorandum of understanding (MOU) with FIA. UOB has helped over 150 companies seize opportunities in Vietnam, and aims to double the number.

More than 2,000 jobs are forecast to be created in Vietnam from the next wave of investments, on top of the more than 17,000 jobs already created under the first MOU signed in 2015.

THE BUSINESS TIMES

ANA Holdings

Japan's biggest airline ANA Holdings said yesterday it will issue new shares to raise 332 billion yen (S$4.3 billion) to pay for Boeing 787 jets it has ordered and help weather a plunge in air travel.

Cost-cutting measures taken so far include asking staff to take furloughs or accept pay cuts. The Japanese government has also helped by slashing airport charges, including a landing fee waiver. The share issue comes after ANA secured US$3.8 billion (S$5.1 billion) in subordinated loans from the state-backed Development Bank of Japan and private lenders.

REUTERS