In brief

KepCorp's KepLand stake rises to 87.2%

KEPPEL Corp's stake in Keppel Land has grown to 87.2 per cent as at 5pm on Thursday, the company said in a Singapore Exchange filing. Keppel Corp needs to own more than 90 per cent of Keppel Land to delist the company, according to listing rules. But it needs at least 95.5 per cent to complete the buyout by compulsorily buying the remaining shares it does not own.

Two firms plan share consolidation

TWO companies - SunMoon Food Company and Changtian Plastic & Chemical - plan a 10-into-1 share consolidation of their shares. The proposals by both firms are aimed at satisfying the minimum S$0.20 trading price requirement set by the Singapore Exchange for mainboard-listed companies.

Changtian said that the proposed share consolidation may increase the profile of the company among institutional investors and research coverage "which may, in turn, increase market interest and activity in the consolidated shares, and generally make the consolidated shares more attractive to investors".