SINGAPORE - The following companies saw new developments which may affect trading of their shares on Thursday (June 28):
Ipco International: The board of construction and turnkey project company Ipco International expects to post a net loss for the 2018 fiscal year ended April 30, largely due to the impairment of intangible assets and the translation effect on the operations of the group's foreign currency denominated subsidiaries.
Serial System: Serial System's executive chairman and group chief executive Derek Goh Bak Heng has been called upon by the Taiwanese authorities to assist in certain investigations under the Securities and Exchange Act of Taiwan, the board of the electronics components distributor announced on Thursday before the market opened. His assistance was requested by the Taipei District Prosecutors Office and the Investigation Bureau, Ministry of Justice of Taiwan.
Vallianz Holdings: Catalist-listed offshore support vessel owner-operator Vallianz Holdings has entered into letters of agreement on Wednesday with its trade creditors to swop payables of almost $3.15 million for shares in the company. Vallianz said that the equity swop arrangement priced the settlement shares for the trade payables totalling over 196.6 million shares at 1.6 cents apiece, which is 60 per cent above the company's volume-weighted average price of one cent for its Wednesday trades.
EpiCentre Holdings: EpiCentre Holdings could be going into the regional property business through a reverse takeover, it said on Wednesday. It is also axing a rights-cum-warrant issue, turning instead to a fresh share placement, in a move that executive chairman and acting chief executive Kenneth Lim said is meant to snag strategic investors to support the new businesses. It also said on Wednesday it will issue up to 79.74 million new shares at $0.12 each, to raise some $9.32 million in net proceeds.