Stocks to watch: Sats, Japfa, Rex International, Starhill Global Reit, Oiltek
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Renald Yeo
THE following companies saw new developments that may affect trading of their securities on Tuesday (Jan 3):
Sats : The inflight caterer and ground handler announced that it would be holding an extraordinary general meeting on Jan 18 for shareholders to vote on the motion to acquire air cargo handler Worldwide Flight Services. Directors of the company recommended its shareholders approve the acquisition, adding that they would be taking up the full allotment of the proposed rights issue. This was earlier announced as a way for Sats to partially fund its acquisition. Shares of Sats traded flat at S$2.84 on Friday.
Japfa : Shares of the group’s newly-listed China dairy unit, AustAsia Group, ended their first day of trading in Hong Kong last Friday below the offer price. AustAsia Group shares closed at HK$6.37, HK$0.03 below the offer price of HK$6.40. The listing also led S&P Global Ratings to downgrade the group’s Indonesian unit Japfa Comfeed Indonesia. Japfa’s shares closed on the Singapore bourse at S$0.345 on Friday, down 35.5 per cent or S$0.19 after the news.
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