The Business Times
business-time-50
SUBSCRIBERS

Hot stock: Heavy trading in Jubilee after proposal to sell electronics business unit

google-preferred-sourceAdd BT as a preferred source
Vivienne Tay

Vivienne Tay

Published Thu, Mar 23, 2023 · 03:15 PM
    • The group is looking to sell its remaining 86 per cent stake in We Components for US$15.9 million in cash.
    • The group is looking to sell its remaining 86 per cent stake in We Components for US$15.9 million in cash. PHOTO: PIXABAY

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    SHARES of Catalist-listed Jubilee Industries rose as much as 27.9 per cent amid heavy trading on Thursday (Mar 23).

    This came after the group said on Wednesday it will sell its remaining 86 per cent stake in its electronics business unit, We Components, for US$15.9 million in cash.

    Jubilee executive chairman and chief executive Terence Tea said the company intends to “return the sale proceeds to shareholders in an effective and cost-efficient manner” to the fullest extent permissible under the law.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Air India has been one of the foreign carriers most affected by the outbreak of hostilities in the Middle East.

    Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    Malaysia ranks 23rd globally on the Milken Institute’s global opportunity index.

    South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More