Stocks to watch: StarHub, Noble, SGX, Sembcorp Industries, IndoAgri

Starhub's CEO has bought more than half a million worth of the company's shares from the open market on Feb 15 as the stock fell to a six-month low. PHOTO: BLOOMBERG

SINGAPORE - The following companies saw new developments that may affect trading of their shares on Monday (FEB 19):

StarHub: Chief executive officer of StarHub, Tan Tong Hai, has bought more than half a million worth of the company's shares from the open market on Thursday as the stock fell to a six-month low. Shares in the telco reached a low of S$2.56 apiece on Feb 15 - a 10.14 per cent plunge and the largest one-day decline since StarHub's IPO in 2004. The last time the stock hit this low was around mid-August last year. Shares in the telco last traded at S$2.57 apiece on Thursday, down 10 per cent, or S$0.29.

Noble Group: Noble on Monday said it has reached an in-principle agreement with the group's senior creditors, or "ad hoc group", and fronting bank ING for the provision of a three-year US$700 million trade finance facility. Separately, Noble warned of a net loss for the three months, and full year ended Dec 31, 2017. The group is expecting a fourth-quarter net loss in the range of US$1.7 billion to US$1.9 billion; and a full-year net loss of between US$4.8 billion and US$5 billion. Noble's shares ended trading at S$0.196 on Thursday, down 0.5 per cent, or 0.1 Singapore cent.

Singapore Exchange (SGX): SGX will list successor products to its Nifty family of derivative products before August 2018, the market operator announced before Monday's trading hours. SGX, which has been scrambling to save its Indian equity index derivatives business ever since Indian stock exchanges said earlier in the month that they will no longer provide data for offshore derivative, said that the roll-out of the replacement products will provide market participants the same ability to invest and maintain their risk exposure to the Indian capital markets. SGX closed at S$7.37 apiece on Thursday, down 0.27 per cent.

Sembcorp Industries: Sembcorp Industries has set out to consolidate its thermal and renewable energy businesses under a single entity. The listed group said before Monday's trading hours that three transfers of shareholding interests in these businesses have taken place as part of the reorganisation of its India energy operations. Shares in Sembcorp Industries last traded at S$3.22 apiece on Thursday, up 1.26 per cent.

Indofood Agri Resources (IndoAgri): IndoAgri has invested 23.6 million Brazilian real (S$9.6 million) to take a 50 per cent stake in a joint venture to acquire sugar mill business in Brazil. IndoAgri's partner, JF Investimentos, contributed an equal amount to the initial capital of the joint venture, Canápolis. IndoAgri is primarily an Indonesia-based palm oil producer, although it also engages in the cultivation of rubber, sugar cane and other crops. Shares in IndoAgri last traded at S$0.36 on Thursday, unchanged from the previous day's close.

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