SINGAPORE - The following companies saw new developments which may affect trading of their shares on Tuesday (Dec 4):
KLW Holdings: KLW Holdings said it has received a cheque payable to the company for the sum of $1 million under its settlement proposal with investor Michael Chan Ewe Teik. However, the cheque received is only due for clearance on Dec 10. KLW is claiming a total of about $7.8 million from Mr Chan and his company Straitsworld Advisory Limited, for legal costs and the commitment fees paid under the term sheet for a property development project in Zhangye Gansu, China. Mr Chan proposed to split the payments into $1 million to be paid by Dec 3, $1.5 million by Jan 3 and the balance of $5.3 million by April 7.
Sembcorp Marine: Now that a large chunk of projects on Sembcorp Marine's multibillion-dollar order book is under construction, its management is optimistic that the large-cap offshore and marine group may turn profitable at the operating level next year. President and chief executive, Wong Weng Sun, in an exclusive interview with The Business Times, flagged one positive sign: that is, the group's operating losses have been "trending down". "There is a chance next year that operating margins may turn positive," he added.
Singapore Exchange: The Singapore Exchange on Monday launched a set of high-grade iron ore derivatives, adding a new product to its globally dominant suite of iron ore contracts. It also announced a partnership with Nanhua Futures, a China-headquartered financial derivatives services platform, to develop indices related to the Belt and Road Initiative.
Singtel: Australian tech startup Data Republic is set to grow its footprint in Singapore with the help of fresh funds from investors such as Singtel's Innov8 and national carrier Singapore Airlines, the Sydney-based firm said on Tuesday. It announced that it has raised A$22 million (S$22.1 million) in Series B funding, in a round led by Innov8, Singtel's corporate venture capital arm.
Sunrise Shares Holdings: The company requested a trading halt on Tuesday pending an announcement.