SINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday (Jan 21):

Frasers Centrepoint Trust: Chew Tuan Chiong, chief executive of Frasers Centrepoint Asset Management, will step down by year-end, the manager of Frasers Centrepoint Trust said on Monday morning. Dr Chew, now 61, has told the board that he plans to retire from his roles as CEO and executive director. He is due to reach the national minimum retirement age of 62 in 2019. His successor "will be announced in due course", Frasers Centrepoint Asset Management chairman Cheong Choong Kong said in a statement, citing "an effective succession programme" at the firm. Units in the trust closed down 0.9 per cent, or two cents to $2.24 apiece on Friday.

MMP Resources: MMP Resources has engaged a banking institution in Singapore as the firm's financing and capital markets adviser to raise some US$30 million ((S40.8 million), the construction company said in a regulatory filing on Monday. The banking institution was not named. Among other things, the adviser will provide assistance on certain transaction or transactions which have been announced, or are being contemplated by the company, MMP Resources said. Shares in MMP Resources closed flat at 0.6 cent apiece on Friday.

Rich Capital: Fresh from unveiling plans to fund a $44 million interested person transaction by nearly doubling its share capital, Catalist-listed Rich Capital Holdings has now told the bourse operator that it does not deem the deal as a "very substantial acquisition". The group was replying on Friday night to questions from the Singapore Exchange (SGX) over its plan to buy construction companies Rich-Link Construction and Rich-Link Builders. The vendor is Wang Zhen Wen, controlling shareholder and chairman of Rich Capital. The deal, announced on Jan 8, would see Rich Capital issue almost $35.2 million worth of new shares, or about 99.83 per cent of its existing share capital and 49.96 per cent of the enlarged share capital.

Separately, the company has also seen its sixth director's resignation in a year, with the latest being that of independent non-executive director Chow Wen Kwan. In a regulatory filing on Jan 19, the resignation of Mr Chow as Rich Capital's independent non-executive director was announced. He was appointed slightly less than a year ago, on Jan 22. He was a member of the nominating, remuneration and audit committees of Rich Capital, formerly known as Infinio Group. The counter closed flat at 0.4 cent on Friday.

First Ship Lease Trust (FSL Trust): FSL Trust is selling a tanker to a third party, and will take an impairment charge on the vessel, said the manager on Friday night. The 14-year-old FSL Hamburg, a 47,496 deadweight tonnage tanker, will be sold in a deal that is expected to be completed by the end of March this year. Some of the net proceeds from the sale will go towards repaying part of the trust's bank debt, while US$6.5 million will be used to pay off instalments on the US$97.6 million of new-build vessels whose shipbuilding contracts were announced in December 2018. The trust will take an impairment charge of about US$6.3 million on the FSL Hamburg, which was classified as "held for sale" as at Dec 31, 2018. Units in the trust closed flat at 3.3 US cents apiece on Friday.