SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their shares on Tuesday (Dec 10):
MindChamps Preschool: Its shares sank by as much as 24.8 per cent to 38 cents on Monday afternoon, prompting a query from the Singapore Exchange (SGX). The counter recouped most of its losses, closing at 48.5 cents on Monday, two cents or 4 per cent lower, and below its 52-week low of 49 cents. MindChamps responded to the SGX query on Monday night, saying it was unaware of any information not previously announced that might explain Monday's "unusual price movements", and that it is in compliance with listing rules.
In its most recent news, MindChamps announced on Dec 2 that it is divesting its centre at Changi Business Park for $1.03 million in cash, to franchisee Yirong Education to operate. Following the completion of the transaction, MindChamps PreSchool @ Changi Business Park is expected to continue operations at the centre under the franchise agreement, in which Yirong Education will pay royalties to MindChamps.
MindChamps is partially owned by Singapore Press Holdings, which publishes The Straits Times.
SunMoon Food Company: The fruits distributor on Tuesday said its wholly-owned unit on Nov 29 received a statutory demand from Japanese food supplier Wismettac Foods for US$1.2 million. The counter ended at $0.042 on Monday, down 0.2 cent or 4.6 per cent before the announcement was made.
Stamford Tyres: It on Monday evening warned of a net loss for the second quarter and half year ended Oct 31, 2019, based on a preliminary review of its draft unaudited financial results. The losses were mainly due to lower revenue arising from increased competition and oversupply in the tyre market, as well as a one-time expense relating to the closure of a loss-making operation in Australia. Shares in Stamford Tyres ended trading on Monday at 21.5 cents, down 4.44 per cent or one cent.
Mapletree Logistics Trust (MLT): The manager of the trust said its chief financial officer Ivan Lim Ming Rean has resigned and will step down on Dec 31, 2019. The manager said it has found a suitable replacement and will make a further announcement once regulatory clearances are complete. Units of MLT closed at $1.72 on Monday, down two cents, or 1.2 per cent.