SINGAPORE (THE BUSINESS TIMES) - The following companies saw new developments that may affect trading of their securities on Friday (July 3):
United Overseas Bank (UOB): Singapore's third-largest retail bank will from Aug 1 lower all rates on its UOB One account for account balances up to $75,000. The counter ended Thursday at $20.65, up $0.30 or 1 per cent.
DBS, OCBC Bank: The two lenders are among a group of banks with operations in Singapore banding together to raise industry standards for commodity financing. The move was confirmed by the Singapore authorities, which told The Business Times on Thursday that this will be the first such set of "best practices" being developed by lenders here with the trading community, with the support of government agencies. DBS shares were trading at $21.49 as at 9.03am on Friday, up $0.21 or 1 per cent. OCBC shares were trading at $9.19 as at 9.02am on Friday, up $0.01 or 0.1 per cent.
Sembcorp Industries: The company's urban business has formed a joint-venture company with Japanese property firm CRE Asia, as part of an effort to facilitate the expansion of its warehousing properties in Vietnam. Sembcorp shares were down $0.03 or 1.6 per cent at $1.82 on Thursday before the announcement.
Halcyon Agri Corp: Deutsche Bank on Thursday said it has extended a three-year US$25 million sustainability-linked loan, along with an accordion feature to upsize the facility to US$75 million, to Halcyon Agri Corp's subsidiary Corrie MacColl. Loan proceeds will go into maintaining Halcyon's rubber plantations in Cameroon and Malaysia while promoting its Cameroon Outgrower Programme, which aims to provide additional food security and boost the income of 13,000 local smallholder farmers. The counter was trading at 22.5 cents as at 9.17am on Friday, down 0.5 cent or 2.17 per cent.
Q&M Dental Group: Its wholly-owned subsidiary Q&M Dental Centre on Thursday announced a programme to hire and train mid-career dental surgery assistants through the group's dentistry college. Shares of Q&M Dental Group ended Thursday at 44.5 cents, down one cent or 2.2 per cent before the announcement.
Hatten Land: Two Hatten Land subsidiaries owe a combined RM605 million (S$196.9 million) to scheme creditors, although the bulk of these debts will be erased as they are owed to group entities, the Catalist-listed company said late Thursday night in response to the Singapore Exchange's (SGX) queries. Earlier on Thursday, Hatten Land announced that the two subsidiaries were planning to undergo debt restructuring and had applied to the High Court of Malaysia for leave to call for creditors' meetings to consider and approve their proposed schemes. Hatten Land shares rose 0.1 cent or 1.4 per cent to close at 7.1 cents on Thursday, before it replied to SGX.
Chuan Hup: The mainboard-listed property investment company announced that its associated company has received approval from the Australian authorities to develop a 32-level residential tower in a prime area in Perth. Chuan Hup shares closed flat at $0.197 on Thursday, before this announcement was made.