Stocks to watch: Olam Group, Trek 2000
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Michelle Zhu
THE following companies saw new developments that may affect trading of their securities on Tuesday (Dec 6): Olam Group : Its food, feed and fibre operating business Olam Agri has secured a US$2 billion bridge financing facility to support the group’s reorganisation plan, which was announced in January 2020. The 18-month bridge loan facility may also be used for general corporate purposes, Olam Agri said. Shares of Olam Group closed unchanged at S$1.43 on Monday, before the news.
Trek 2000 International : Its former chief financial officer Gurcharan Singh was sentenced on Monday to 11 months’ jail and fined S$20,000 for falsifying accounts, forgery and not disclosing interested party transactions. This comes after the group’s founder Henn Tan, and former executive director Poo Teng Pin, were convicted of charges in related conspiracies. Prior to news of Singh’s sentencing, shares of Trek 2000 had closed flat at S$0.077.
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