Stocks to watch: Olam, Tan Chong, Sats, Civmec

THE following companies saw new developments that may affect trading of their securities on Tuesday (Jan 10):

Olam Group : VC2 0%: The group on Tuesday announced plans to list its agribusiness unit Olam Agri as early as H1 2023. The move will result in a primary listing in Singapore, a concurrent one in Saudi Arabia, and a demerger of Olam Agri and Olam Group through a distribution in specie of shares in Olam Agri to shareholders. Shares of mainboard-listed Olam Group closed 0.7 per cent or S$0.01 lower at S$1.54 on Monday.

Tan Chong International : T15 0%: The automobile dealer expects to post an unrealised loss of HK$222 million (S$37.9 million) for the financial year ended Dec 31. The group attributed this loss to share price changes of its listed investments, which are marked to market. Shares of Tan Chong closed unchanged at HK$1.98 on Monday, before the announcement.