Singapore stock watch: Axington, Tan Chong, Silverlake, Straits Trading, Yunnan Energy, Raffles Education
Sign up now: Get ST's newsletters delivered to your inbox
The Singapore Exchange Centre in Shenton Way.
PHOTO: ST FILE
Follow topic:
SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their shares on Thursday (Aug 27):
Axington: Bad publicity surrounding Singapore's Loh cousins since their highly publicised £280 million ($504 million) bid for Newcastle United has prompted some anxious investors to step up efforts to pull out millions of dollars invested in entities under their Novena Global Healthcare Group, The Business Times (BT) understands. The cousins - Nelson Loh and Terence Loh - are controlling shareholders of Axington.
On Wednesday morning, trading in Axington was halted pending an announcement, which BT understands may be related to Axington's non-independent non-executive chairman, Evangeline Shen. Axington is set to hold its extraordinary general meeting on Thursday.
Tan Chong International: The car company has reported a loss of HK$75.3 million ($13.3 million) for the first half of its financial year ended June 30, as Covid-19 measures curbed or halted its business activities. Tan Chong shares closed flat at HK$2 on Wednesday before the release of its results.
Silverlake Axis: Fintech firm Silverlake saw net profit fall 12 per cent to RM59.1 million ($19.4 million) for the fourth quarter ended June 30, as the Covid-19 pandemic hampered the timely closing of deals, the firm said in its results release. Silverlake shares closed up one cent or 3.4 per cent at 30.5 cents on Wednesday, before its results announcement.
The Straits Trading Company: Straits Trading is acquiring a freehold business park in the UK for a total cash consideration of £76.7 million ($137.9 million). The counter closed unchanged at $1.54 on Wednesday before the news.
Yunnan Energy: Mainboard-listed Yunnan Energy's loss for the six months ended June 30 narrowed to HK$7.07 million ($1.2 million) from a loss of HK$15.1 million for the year-ago period. Yunnan Energy shares closed flat at 15.9 cents on Wednesday before the release of its results.
Raffles Education Corp: The mainboard-listed company on Wednesday night said Oei Hong Leong's requisition notice is without merit. Among other things, the tycoon had sought to oust Raffles Education's founder Chew Hua Seng. Separately, in results released on Thursday, the group fell into the red with a full-year net loss of $16.4 million. Raffles Education shares gained 0.2 cent or 1.9 per cent to finish Wednesday at 11 cents.
