SINGAPORE - The following companies saw new developments that could affect trading of their shares on Wednesday (Oct 10):
Noble Group: Noble on Wednesday flagged that Yancoal Australia Ltd and certain of Yancoal's affiliates intend to file objections to the constitution of classes and the schemes under the restructuring plan put out by the commodities firm. Yancoal, which is labelled as a potential "other scheme creditor", is also set to challenge the jurisdiction of the English courts.
Lafe Corp: The developer has backed out of efforts to buy the Fairhaven condominium, on factors such as property cooling measures and expectations of interest rate hikes. The group expects to post a loss of some S$8.5 million from the abortion of the deal, including the stamp duties that were already paid, for the three months to Dec 31, said the board on Tuesday.
Addvalue Technologies: Mainboard-listed Addvalue Technologies has inked a contract to provide its inter-satellite data relay system (IDRS) service to a low-earth orbit satellite operator, with the customer committing to an initial order of terminals for a launch programme that starts in 2019.
Q&M Dental Group: Shareholders of Aidite (Qinhuangdao) Technology voted on Monday to delist the Q&M Dental Group (Singapore) associate from a Chinese stock exchange, Singapore-listed Q & M's board said the next day. Aidite, a maker of dental supplies, was spun off in 2016 for a listing on China's National Equities Exchange and Quotations, also known as the New Third Board.
Falcon Energy: Its company auditors have flagged the existence of material uncertainties that could cast significant doubt on its ability to continue as a going concern in their report on the company's financial statements for the year to June 30, the board said on Tuesday. Citing the group's net current liabilities position, incurred loss before tax and net capital deficiency, the auditors said that Falcon Energy is "exposed to an increased liquidity risk" that could hurt its ability to negotiate with lenders and finalise a debt restructuring plan.
Ipco International: Its independent auditors have included a disclaimer of opinion on financial statements for the year to April 30, the group disclosed on Tuesday, adding that a full annual report will be sent out on Oct 15. Separately, the board also issued a list of material differences between its unaudited and audited statements for the same period, including a S$14.97 million adjustment to its full-year losses.