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Stocks to watch: SIA, Tiger Airways, Midas, Cacola Furniture
THE following companies made announcements after the market closed on Monday that could affect their trading activity:
Singapore Airlines (SIA) has raised its offer price for Tiger Airways to S$0.45 per share, up from S$0.41 per share originally, and stressed that this will be the final offer to shareholders. The deal remains conditional on SIA garnering more than 90 per cent of Tiger at the close of the offer. As at 5pm on Monday, this figure stood at 77.48 per cent.
A Midas Holdings joint-venture company has secured a metro train contract worth about 1.28 billion yuan (S$280 million) for the Guiyang Rail Transit Line 1 in China. Midas has a 32.5 per cent stake in Nanjing SR Puzhen Rail Transport Co, and the contract is expected to contribute positively to its group financial performance in FY2016 and FY2017.
Cacola Furniture chief executive officer and executive director Zhou Zhuo Lin has resigned with no reason offered for his departure, though a separate regulatory announcement with the exchange said he has retired. Cacola faces potential delisting from the mainboard of Singapore Exchange if it fails to raise either or both of its earnings and market capitalisation by March.