SINGAPORE - The following companies saw new developments that could affect trading of their shares on Thursday (OCT 11):
Singtel: Its Australian subsidiary has inked a deal to buy a privately held cyber security firm incorporated in Victoria state, which will be integrated into the group's Trustwave cybersecurity arm. Optus Cyber Security will pay up to A$23.3 million (S$22.9 million) for three-year-old Hivint, subject to earn-out targets and adjustments such as working capital and cash at closing, in a conditional agreement announced by the group on Wednesday evening.
Nam Cheong: Malaysian lender AmBank has agreed to withdraw a legal action against a Nam Cheong subsidiary, said the board of the offshore and marine player on Wednesday. The Nam Cheong Dockyard unit received a writ of summons and statement of claim in Kuala Lumpur's High Court of Malaya in 2017, but the board has now said that the legal action will be taken back, on the successful conclusion of the group's debt restructuring exercise.
Noble Group: The troubled commodities trader Noble Group sold its beneficial interests in an Indonesian subsidiary for a nominal US$1 in cash on Wednesday, with the buyer also taking on all the outstanding payables owed. Kaltim Bio Energi had a book value of US$10.4 million, based on unaudited financial results for the six months to June 30. Its outstanding payables include a US$10.4 million pre-payment facility owed to Noble.
Duty Free International: Mainboard-listed Duty Free has posted a 12.6 per cent decline in second-quarter net profit to RM12.3 million (S$4.09 million) as revenue fell 21.8 per cent. For the three months ended Aug 31, earnings per share (EPS) came in at 1.02 sen, down from 1.15 sen in the year-ago period.
Falcon Energy Group: It is able to continue as a going concern, the board told the bourse operator on Wednesday night, a day after company auditors flagged the existence of material uncertainties in their report on financial statements for the year to June 30.
New Silkroutes Group: The independent auditor for New Silkroutes has issued a qualified opinion on the group's financial statements for the year to June 30, said the board on Wednesday night. Auditors from Foo Kon Tan LLP gave their qualified opinion based on both the opening balance and an available-for-sale investment in the group's consolidated financial statements.
Pine Capital Group: It is able to continue as a going concern, the board said on Wednesday, in response to four queries from the bourse operator over its plans for share settlement and share placement exercises.
