SINGAPORE - The following companies saw new developments that may affect trading of their shares on Wednesday (June 12):
Great Eastern Holdings: Lion Global Investors, a subsidiary of Great Eastern Holdings, is looking to divest a unit to Bank of Singapore for RM24.9 million ($8.16 million). Great Eastern is OCBC Bank's insurance arm, while Bank of Singapore is OCBC's private banking arm. Based on exchange filings on Tuesday, Lion Global Investors holds 3.5 million ordinary shares in Pacific Mutual Fund Berhad, representing a 70 per cent stake. Great Eastern shares closed flat at $26 on Tuesday.
Sembcorp Industries: Its wholly owned subsidiary Sembcorp Development disposed its entire 10.27 per cent equity interest in Gallant Venture for a consideration of $62 million. Following which, Sembcorp Development ceased to be a shareholder of Gallant Venture. The company said that the sale consideration took into account the fact that Gallant Venture shares have been thinly traded on the Singapore Exchange. Sembcorp Industries shares closed up 1.26 per cent or $0.03 at S$2.41 on Tuesday.
Isetan: The retailer said on Wednesday that it constantly explores and reviews opportunities and strategic options regarding its assets, after being queried by the Singapore Exchange on Tuesday afternoon for unusual price movements. Isetan said it was not aware of any other information not announced previously concerning the company or its associated companies which might explain the unusual price movements in its shares, and that it was also not aware of any other possible explanation for the trading. The counter closed at S$4.30 on Tuesday, adding 17 Singapore cents or 4.12 per cent.
Challenger Technologies: The financial terms of Digileap Capital's exit offer for Challenger Technologies are "fair and reasonable", said the independent financial adviser (IFA) in a letter appended to the company's delisting circular despatched on Wednesday. The company's non-conflicted directors unanimously recommended that shareholders vote in favour of the delisting resolution and accept the exit offer. Shares of Challenger closed at 55.5 cents on Tuesday, up 0.5 cent from Monday's close.
RE&S Holdings: The food and beverage operator announced a slew of leadership changes after trading hours on Tuesday, as part of its succession plan to "ensure the group's long-term growth and sustainability". Effective from July 1, John Yek will step down as CEO of the group, but will remain on the board as executive director to facilitate a smooth transition. The current deputy CEO and CFO Foo Kah Lee will succeed him as CEO and will also be appointed to the board. RE&S shares closed flat at $0.18 on Tuesday.
SATS: The in-flight catering services provider has opened the Business Aviation Centre (BAC) at Seletar Airport, to provide personalised lounge and passenger services to private-jet customers for discretion, privacy and speed, it said in a media statement on Tuesday. The centre will ensure swift baggage handling, security check and immigration clearance, to allow a "seamless passage" through the airport for the passengers. SATS shares closed up 1.41 per cent or $0.07 at S$5.04 on Tuesday, after the announcement had been made.
Mercurius Capital Investment: The Catalist-listed company on Wednesday morning requested a trading halt, pending the release of an announcement. On May 20, the company said in a bourse filing that it was in advanced talks for a possible joint venture and business investment. Its shares closed up 0.3 cent at 4.2 cents on Tuesday.