SINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday (Jan 15):
Lian Beng Group: The construction and property development group said after the market closed on Friday that net profit fell 43.2 per cent to S$3.2 million for its second quarter ended Nov 30, 2017, due to higher cost of sales and higher distribution expenses and finance costs. Net profit for the first half fell 33.7 per cent to S$12.2 million, partly due to its lower profit margin from the construction segment, but also because of the marketing and leasing agent's fee for its investment property at 50 Franklin Street in Melbourne, Australia, and higher finance costs due to its increase in borrowings to finance the purchase of investment properties and securities.
800 Super Holdings: The waste management and horticultural services firm on Friday said it has won a S$194 million contract to collect refuse through its subsidiary. The contract was awarded by the National Environmental Agency, with the licence to take effect from July 1, 2018, expiring on Oct 31, 2025. The service will cover the Paris Ris to Bedok sector in Singapore.
Noble Group: The commodity trader said on Monday that it has completed the sale of Noble Americas Corp (NAC), marking the conclusion of a monetisation programme of the company's global oil liquids and North American gas and power businesses. The estimated net proceeds from the sale of NAC were US$400 million, based on the estimated closing date base consideration of US$214 million, plus estimated closing date net working capital of US$388 million, net of US$202 million of loans drawn under the NAC senior secured borrowing base revolving credit facility. Loans drawn under that facility were repaid by Vitol, the buyer of NAC. The NAC credit facility has subsequently been retired.
CWG International: The property developer has won land use rights for a 47,683 square metre residential and commercial site in the city of Hangzhou, Zhejiang, in China for 1.14 billion yuan (S$234.06 million). CWG, a property developer, said in a filing with the Singapore Exchange on Monday that it will enter into a joint venture with a third party to jointly develop and manage the land parcel. Development of the site is not expected to be completed before 2019.