THE following stocks had announcements or developments that could affect trading activity on the Singapore Exchange (SGX) on Monday.
Olam International: The commodities trader has finally completed its acquisition of ADM's global cocoa business, which had been announced in December last year. The deal was completed on Oct 16 at an enterprise value of US$1.2 billion (on a cash free and debt free basis) and will make newly-created Olam Cocoa a global integrated supplier of cocoa products, Olam said in an SGX filing over the weekend. Olam expects the acquired business to generate an Ebitda of between US$180 million and US$200 million in 2018, a 20-22 per cent growth over the results for the year ended June 30, 2014.
KLW Holdings: The Catalist-listed door maker said on Sunday that its controlling shareholder Quek Chek Lan would be chief executive officer effective Oct 16. This came after Mr Quek won his bid to replace a majority of directors with his own nominees at the company's extraordinary general meeting (EGM) earlier this month. Mr Quek, 71, had also wanted to become a director but withdrew his motion at the EGM because of age restrictions under the Companies Act.
Qian Hu: Higher margins for Qian Hu's fish exports and the stabilisation of plastics prices boosted third-quarter earnings for the ornamental fish retailer, it said on Friday evening. Net profit for the three months ended Sept 30 jumped 17.7 per cent to S$93,000 but revenue fell 12.8 per cent to S$17.84 million year-on-year.