SINGAPORE - The following companies saw new developments that may affect trading of their shares on Friday (Dec 8):
Fu Yu Corporation Limited: Mainboard-listed Fu Yu is intending to privatise its subsidiary, LCTH Corporation Berhard, through a selective capital repayment (SCR) exercise valued at around RM61.3 million (S$20.3 million). In a bourse filing late Thursday, the manufacturer of precision plastic components in Asia said that the proposed SCR involves LCTH undertaking a selective capital reduction and a corresponding capital repayment in respect of the LCTH shares held by all shareholders of LCTH other than Fu Yu. The proposed SCR will be funded via the existing cash balance and internally generated funds of the LCTH group.
Ellipsiz Ltd: Ellipsiz, a semiconductor equipment provider, said on Thursday it has ceased discussions with a "third party" relating to a possible transaction involving the shares of the company. In November, it said it had been approached by an unidentified third party "which may or may not lead to an offer being made for the share of the company by the third party". No further details were provided then.
GuocoLand Limited: Property firm GuocoLand on Thursday said its indirect wholly owned subsidiary, Tianjin Zhongxin Mingshi Real Estate Development (TJZX), will cease to be a subsidiary upon the completion of an agreement entered into between TJZX, GuoSon Investment Company (GICL) and Tianjin Hua Xia Jin Hui Investment Company (HXJH). GICL will transfer the full equity interest in TJZX to HXJH, as well as novate the debt it owes TJZX to HXJH. The transaction totals 581.37 million yuan (S$119 million), which reflects the net asset value of TJZX.