Company Briefs: The Straits Times Index

The Straits Times Index

There will be no changes to the constituents of the Straits Times Index (STI) following the December quarterly review.

The STI reserve list, comprising the five highest-ranking non-constituents of the STI by market capitalisation, will be Suntec Reit, Mapletree Commercial Trust, Keppel Reit, First Resources and Singapore Post. These are in order of size.

The next review will take place on March 2, FTSE Russell said yesterday.

Q&M Dental Group

Q&M Dental Group has received approval for the quotation of Aidite shares on the new third board in China.

Mainboard-listed Q&M had proposed the spin-off of Aidite, its manufacturing unit in China, in August. The group said yesterday that it has won approval from Chinese regulators, subject to certain requirements, including the completion of the quotation procedures.

New Silkroutes Group

New Silkroutes Group said it will issue new shares to raise up to $25 million "in what will be its largest fund-raising exercise in recent years". It will issue up to 25.5 million new shares at about 97 cents with plans to use up to 80 per cent of proceeds on acquisitions.

New Silkroutes said Kuala Lumpur-based Fortress Capital Asset Management and healthcare investment and consultancy firm Quantum Health have confirmed interest in the shares.

The placement price is "a shade below" the last closing price of $1 before it called for a trading halt on Nov 28. It requested to lift the trading halt on Wednesday night.

Swiber Holdings

The Singapore High Court has granted an extension for Swiber's judicial managers to send to creditors a statement of proposals and summon a creditors' meeting, the company said yesterday.

They now have until March 23 to do so.

The High Court also ordered that the validity of the orders placing Swiber in judicial management be extended to remain in force for a further 180 days, from April 4 to Oct 1.

The judicial managers will be making arrangements to convene an informal creditors' meeting next month.

A version of this article appeared in the print edition of The Straits Times on December 02, 2016, with the headline 'Company Briefs'. Print Edition | Subscribe