Company briefs: CWT


Chinese conglomerate HNA Group has set a long-awaited date for CWT shareholders to vote on its $1.4 billion takeover offer for the Singapore logistics operator.

Its Hong Kong-listed unit, HNA Holding Group, has a general meeting set for Sept 7.

CWT stock closed on Friday at an 8.6 per cent discount to the HNA offer of $2.33 a share but was up 11 per cent to $2.24 yesterday. HNA Group has announced over US$40 billion (S$54 billion) of purchases since the beginning of last year, according to Bloomberg data.

CWT said it has appointed Ernst & Young Corporate Finance as the independent financial adviser to advise the independent directors.

Spindex Industries

Precision engineering firm Spindex Industries reported that full-year earnings rose 38.9 per cent to $14 million.

Revenue grew 14.2 per cent to $141.8 million for the 12 months to June 30, compared with the same period a year ago. Earnings per share was 12.17 cents, compared with 8.76 cents the same period last year, while net asset value was 84.55 cents as at June 30, compared with 75.8 cents last year.

Genting Singapore

Casino operator Genting Singapore said it will redeem certain outstanding securities from the holders on Oct 19.

The redemption price is 100 per cent of the securities' principal amount, together with unpaid distribution.

The last trading day of these securities will be on Oct 6 at 5pm, and they will be delisted from the Singapore Exchange on Oct 20 at 9am.

A version of this article appeared in the print edition of The Straits Times on August 22, 2017, with the headline 'Company briefs: CWT'. Print Edition | Subscribe