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Stocks to watch: YuuZoo, Singtel
YUUZOO Corporation: The mainboard-listed social networking, e-commerce and entertainment company said on Friday its new equity investment in movie studio Relativity Holdings Media (in which it acquired a 33.3 per cent stake for US$27.5 million last month) will be at least US$15 million and up to US$150 million.
It said: "The proposed equity investment is in line with the company's business strategy to add high-quality media content for distribution through the company's 'YuuZoo' social e-commerce platform and for online and mobile payments to be made using the company's 'YuuPay' payment system."
Singtel: A large jump in the communications and ICT solutions group's shares helped the Straits Times Index post a 4.03-point rise to 2,843.72 on Thursday, in a session where the broad market weakened, recording 179 rises versus 237 falls.
The group made several key announcements on Thursday, including two key appointments to its leadership team. From April 1, 2017, Mark Chong will assume the role of Singtel's group chief technology officer, while Arthur Lang will be its chief executive officer for international.
Singtel on Thursday also launched HOOQ, its video-on-demand service, in Singapore.