The Business Times

Stocks to watch: UOB, Singtel, Chip Eng Seng, HC Surgical, OUELH, Creative Tech

Published Thu, Apr 8, 2021 · 08:59 AM

THE following companies saw new developments that may affect trading of their securities on Thursday:

UOB: The bank on Thursday said it priced Singapore's first sustainability bond offering - a dual tranche of senior notes at 1.25 per cent and Tier 2 subordinated notes at 2 per cent per annum. It raised US$1.5 billion, with a final order book of US$2.75 billion. UOB shares closed at S$26.01 on Wednesday, down S$0.07 or 0.3 per cent.

Singapore Telecommunications (Singtel): Its wholly-owned subsidiary on Wednesday priced S$1 billion of subordinated perpetual securities guaranteed by Singtel. In a bourse filing on Thursday morning, the telco said its order book closed after receiving interest of about S$2.1 billion, resulting in an oversubscription. Singtel closed on Wednesday down S$0.02 or 0.8 per cent at S$2.46.

Chip Eng Seng Corporation: The property developer on Wednesday announced that its subsidiary will be selling its shophouses along Tanjong Pagar Road and Geylang Road. The aggregate land area for the Tanjong Pagar property was about 1,653 square feet (sq ft), with a purchase price of nearly S$10.7 million. The area of the property at Geylang Road occupies 3,290 sq ft and the purchase price is S$13.5 million. Chip Eng Seng shares closed flat at S$0.50 on Wednesday, before the announcement.

HC Surgical Specialists: A woman who sought permission to sue the medical services group's chief executive Heah Siu Min on behalf of the group for alleged breach of director's duties, had her appeal dismissed by the Court of Appeal on Wednesday. The High Court dismissed her application last year on grounds that she had a vendetta and lacked good faith due to her conflict with surgeon Julian Ong. HC Surgical shares closed flat at S$0.45 on Wednesday.

OUE Lippo Healthcare (OUELH): The healthcare company received a letter of demand dated April 5 from VM III demanding the return of S$10.7 million, which VM III alleges it had paid to OUELH, according to a bourse filing on Wednesday. Previously, OUELH had received a total of nearly S$13.1 million from Crest entities comprising the judgment debt plus interest and costs. OUELH shares closed at 4.2 Singapore cents on Wednesday, up 0.1 cents or 2.4 per cent.


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Creative Technology: The technology company announced on Wednesday that it is planning to reduce the share capital of the company to the extent of US$217.7 million. This purpose is to write off accumulated losses with a view to restructure the finances of the company and rationalise its balance sheet for it to be an accurate reflection of the value of its underlying assets. Creative Technology shares closed at S$2.68 on Wednesday, down 0.7 per cent or S$0.02.


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