SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Tuesday (Sept 1):
Keppel Corp: Keppel Corp on Monday said its property arm, Keppel Land, has entered into a joint venture with leading Indian developer Emerald Haven Realty, a TVS Group company, to jointly develop a freehold condominium project on a prime 2.4 hectare site in south Chennai, India. On Monday, Keppel's associate company Floatel said a forbearance agreement between itself and an ad-hoc committee of holders of its US$400 million senior secured, first-lien 9 per cent bonds has been extended again, while a payment agreement with its bank lenders has lapsed. Shares of Keppel ended Monday at $4.58, down $0.05 or 1.1 per cent.
Yangzijiang Shipbuilding: The company has entered into an agreement with Hong Kong container shipping firm SITC International Holdings for the building and delivery of a dozen 1,800 twenty-foot equivalent unit containerships, it said on Monday. The counter closed at 91.5 cents on Monday, up 0.5 cent or 0.6 per cent before the announcement.
First Reit: The manager of First Reit said on Monday that it expects to receive a rental restructuring proposal from its tenant and former parent company Lippo Kawaraci (LPKR). On June 1, LPKR had issued a statement about its intention to initiate rental restructuring discussions with First Reit. Units of First Reit ended Monday at 49.5 cents, down four cents or 7.5 per cent, before the announcement.
OUE Lippo Healthcare: The Catalist-listed company said on Monday that funds owned by Crest Capital Asia have agreed to pay it a sum of $12.6 million in relation to a favourable judgement issued by the Singapore High Court in July in respect of a suit. The counter closed at 3.5 cents on Monday, down 0.1 cent or 2.8 per cent before the announcement.
Halcyon Agri: Shares of the mainboard-listed natural rubber supplier recovered some of their losses on Monday after it proposed to issue guaranteed perpetual securities in place of a rights issue. The counter ended Monday at 23.5 cents, up 1.5 cents or 6.8 per cent.
BRC Asia: The steel reinforcement supplier plans to sell a property located at 32G Nassim Road for $38.38 million, it said on Monday. BRC Asia shares closed flat at $1.13 on Monday.
UG Healthcare: The Catalist-listed Malaysian glove maker is proposing a share split of every one existing share into three shares, on a record date to be determined by the board later. UG Healthcare shares rose $0.05 or 2.24 per cent to $2.28 on Monday before the announcement.
Hatten Land: The Catalist-listed firm is proposing to issue new shares to its landlord as payment for an upcoming rental of $3.5 million, in a bid to preserve cash during the pandemic. Shares of Hatten Land closed down 0.7 cent or 11.5 per cent to 5.4 cents on Monday.
Raffles Education Corp: The company on Tuesday said it has again received a notice of requisition from shareholders, this time including Indian businessman Shantanu Prakash, alongside tycoon Oei Hong Leong, who has unsuccessfully called for extraordinary general meetings several times. Shares of Raffles Education advanced 0.1 cent or 0.9 per cent to finish Monday at 11 cents.