SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Tuesday (March 17):
Genting Singapore: Credit ratings agency Moody's Investors Service has placed its A3 issuer rating for mainboard-listed Genting Singapore on review for a downgrade. Genting Singapore shares closed at $0.64 on Monday, down $0.04 or 5.9 per cent, before Moody's report.
Singapore Airlines (SIA): As countries tighten their borders, travellers hunker down and oil prices tumble, the flag carrier is flying into something of a perfect storm. While cheaper fuel normally spells relief, depressed oil prices represents a double whammy for SIA. Its shares slid $0.46 or 6.4 per cent to finish at $6.74 on Monday, after the airline said it will waive rebooking fees and the Singapore government announced new measures to reduce the spread of the novel coronavirus.
Yangzijiang Shipbuilding: The company has inked a US$1.15 billion shipbuilding contract for up to 10 vessels. This is one of the group's largest orders by contract value to date, Yangzijiang said. Its shares closed up 0.5 cent or 0.6 per cent at 80 cents on Monday, before the bourse filing was made.
Sembcorp Industries: The conglomerate will appoint a new group president and chief executive officer (CEO) to take over from Neil McGregor, who will retire on June 30. Wong Kim Yin, CEO of utilities provider SP Group, will assume Mr McGregor's role from July 1. SembCorp shares closed $0.09 or 5.5 per cent lower at $1.55 on Monday, before the announcement.
Ho Bee Land: The mainboard-listed developer's subsidiary has been awarded the concept and price tender to build, own and operate Biopolis Phase 6 at one-north by JTC Corporation, Ho Bee said on Monday after trading hours. The counter fell $0.16 or 7.6 per cent to close at $1.94 on Monday.
Banyan Tree Holdings: The mainboard-listed hospitality group inked a joint venture agreement to form a hotel management business in Myanmar with Htoo Hospitality. The joint venture will include the 17 hotels and resorts owned by Htoo. Shares of Banyan Tree stayed flat at $0.30 at Monday's close.
Starburst: The Catalist-listed firm on Monday evening said its subsidiary has won a $40.9 million contract to build a firearms training facility in South-east Asia. Shares of Starburst ended at 38.5 cents on Monday, down one cent or 2.5 per cent.
Del Monte Pacific: The mainboard-listed food and beverage company on Monday evening said it is expecting "some favourable impact" on sales in the US and the Philippines, and this will likely offset the decline in sales in North Asia amid the global coronavirus pandemic. Del Monte shares closed down 0.1 cent or 1 per cent at 9.9 cents on Monday.
Biolidics: Despite choppy market conditions, the Catalist-listed cancer diagnostics firm is expecting "strong interest" for its share placement that could raise some $3.1 million to fuel its business expansion and new growth opportunities. Biolidics shares ended at 19.4 cents on Monday, down 1.1 cent or 5.4 per cent.
MeGroup: The Malaysian-based automotive company will lease its unsold cars to car subscription services provider Flux, MeGroup said on Monday after trading hours. Its shares on Catalist finished flat at 18.5 cents on Monday.