SINGAPORE - The following companies saw new developments which may affect trading of their shares on Thursday (Aug 16):
ASL Marine: The shipbuilder and vessel charterer on Wednesday night said it expects to report a net loss for the fourth quarter and full year ended June 30, in results to be released on Aug 29. The expected loss is primarily due to weak contribution from the shipbuilding segment and impairment losses, it said.
Aspial Corp: The jewellery and property company announced on Thursday morning a debt buyback programme to repurchase up to $10 million of an outstanding S$74 million of 5.5 per cent notes due in November.
CFM Holdings: The metal-stamping firm expects to record a net loss after tax for its 2018 financial year due mainly to provision for litigation fees and bad debts written off. It expects however that net loss after tax for 2018 to be significantly lower than the net loss after tax for the financial year ended June 30, 2017.
Heeton Holdings and KSH Holdings: The companies have jointly acquired the Smile Hotel Asakusa in Tokyo, Japan, they said said on Wednesday night. Heeton will have a 70 per cent stake and KSH 30 per cent in the acquisition, which is the duo's second hotel property in Japan. The acquisition sum was not disclosed.
Vibrant Group: The company on Wednesday night said a motor vehicle transporting certain accounting records of a unit of subsidiary Blackgold International Holdings caught fire near a coal mine in China on Aug 9. The fire is suspected to be a deliberate act to destroy records and took place about a month after the group announced that its auditors have found accounting irregularities in certain units of Blackgold, said Vibrant.
Stratech: The surveillance tech firm on Wednesday said it has agreed to place out an eventual 58.4 per cent stake in itself to a private equity investor for US$20 million and to convert about $8.75 million of loans into shares.