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SINGAPORE Airlines (SIA): SIA has boosted its stake in Tiger Airways to over 93 per cent, which will enable it to successfully delist the budget carrier, it said in a Singapore Exchange filing on Friday night. Not accepting the offer at this point could leave shareholders stuck holding stock in an unlisted company, making it tougher to exit. Once the offer closes on Feb 19, 2016, SGX will suspend trading in Tiger's shares as the free float has fallen below the minimum 10 per cent threshold.
Zhongmin Baihui Retail Group: Singapore Exchange (SGX) is reviewing trading in Zhongmin Baihui after finding out that a small group of individuals accounted for almost all the buy volume in the stock since October 2015, the bourse said on Friday after the market closed. Zhongmin Baihui's shares have stayed relatively stable since Oct 26, 2015, despite declines in the broader market, SGX said. In particular, since the start of 2016 Zhongmin Baihui's shares have rarely closed lower than S$1.76, and only on Feb 4 did the stock close at S$1.74. By contrast, the Straits Times Index has lost 11.25 per cent year-to-date. Zhongmin Baihui shares closed at S$1.75 on Friday before the announcement.
Japfa: Indonesian subsidiaries of agriculture company Japfa are involved in investigations over an alleged chicken cartel and price-fixing activity in the beef industry. Two Japfa units in the beef industry are due to appear before Indonesia's competition commission, the KPPU, on Feb 12, Japfa said in a Singapore Exchange filing on Monday. This was part of an unofficial English translation the group provided of a response to a query from the Indonesian stock exchange.
As for another unit in the chicken industry, Japfa said in its translated statement that "Japfa Comfeed Indonesia, together with the other 16 poultry companies, was directed by the director-general of animal husbandry to cull six million poultry parent stocks in 2015".
"The company does not, therefore, expect an allegation report on any violation of the law for complying with the direction of the director-general who is part of the Ministry of Agriculture," it said.
The KPPU launched an investigation after receiving reports about irregularities in the rise of chicken prices, according to media reports.