SINGAPORE - The following companies saw new developments that could affect trading of their shares on Friday (Dec 15):
TMC Education Corp: Koh Wee Meng, the property tycoon behind Fragrance Group, is offering S$0.0675 per share in a general offer for TMC, a private education company. The offer was made after Mr Koh bought a 51 per cent stake from the chairman and chief executive of TMC. In filings with the Singapore Exchange, Mr Koh said he does not intend to continue TMC's core education business, which the company will dispose of. However, he plans to retain TMC's listed status, and will "undertake a review of the business of the group" to identify the strategic direction for the company.
LHN: The property management and logistics services company could raise up to HK$99.1 million (S$17.1 million) through an offering of shares in Hong Kong. Singapore-listed LHN said it will offer 42 million new shares at between HK$1.90 and HK$2.36 per share in its dual-listing offering in Hong Kong. Trading in Hong Kong is expected to begin on Dec 29. The stock closed at S$0.205 on Thursday in Singapore.
KTL Global: The oil and natural gas company said on Thursday that the Monetary Authority of Singapore is investigating a possible offence under the Securities and Futures Act. The regulator has requested access to details of the group's local and overseas bank accounts and statements, accounting documents and books, and accounting records relating to proceeds raised from the private placement deal with Infinity Global Consultancy Pte Ltd in March 2015.
United Engineers (UE): The property, engineering, distribution and manufacturing conglomerate has made a pre-conditional voluntary unconditional cash offer of S$2.07 per share for all the shares of WBL Corp it does not already own; the announcement follows Yanlord Land Group and Perennial Real Estate's acquisition of a one-third stake in UE earlier this year.