Stocks to watch: Singtel, Sinarmas Land, Cordlife, Q&M Dental Group, Grand Venture Tech, PSC, Procurri Corp

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jul 11):

Singtel : The local telecommunications giant’s technology services arm, NCS, will invest S$130 million over the next three years to further its artificial intelligence (AI) development across the Asia-Pacific. The sum will go towards developing an AI suite and an AI-enabled workforce, and six major technological partnerships, among other projects. NCS now has more than 1,000 professionals certified across major cloud platforms such as AWS, Google, Microsoft and Nvidia. Shares in Singtel closed 1.3 per cent or S$0.05 higher at S$4.01 on Thursday, before the news.

Sinarmas Land : The property developer said on Friday that the offeror aiming to privatise it has exercised its right to compulsorily acquire all shares of shareholders who have not accepted the offer. Following this, the Widjaja family-controlled Lyon Investments will own all Sinarmas Land shares and delist the company from the mainboard of the Singapore Exchange on a date to be announced. The counter has been suspended from trading since Jun 3, after the privatisation offer closed with Lyon Investments’ shareholding standing at a 98.65 per cent.