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Stocks to watch: BlackGold, Chuan Hup, PCI, Noble, SBS Transit, SGX, Frasers Property
THE following companies saw new developments which may affect trading of their shares on Wednesday:
BlackGold Natural Resources: BlackGold subsidiary PT Samantaka Batubara’s president director Rudy Herlambang was called for a further round of interview by Indonesia’s Komisi Pemberantasan Korupsi (KPK) or Corruption Eradication Commission, the coal mining company said late on Tuesday in its response to a query by the Singapore Exchange. This follows BlackGold’s earlier announcement on Sunday that three senior executives of BlackGold, including Mr Herlambang, had been called for interviews by KPK as witness to an investigation.
Chuan Hup Holdings, PCI: PCI's controlling shareholder has been approached by a third party about a potential transaction, PCI said in a statement on Tuesday night, in response to a query from the Singapore Exchange. Shares in PCI closed at S$1.09 on Tuesday, up five Singapore cents, after hitting a high of S$1.14 in intra-day trading. The recent run-up in its share price prompted a query from the exchange on Tuesday afternoon. PCI said: "Chuan Hup Holdings, as the controlling shareholder of the company, has informed the board that it has been approached by a third party in connection with a potential transaction in relation to the securities of the company."
Noble Group: Noble has completed the divestment of its four Panacore vessels for US$95 million, it said in a filing to the Singapore Exchange on Tuesday. This will allow the group to retire about US$63 million in debt, and receive about US$32 million in net proceeds. The aggregate book value of the Panacore vessels is approximately US$94 million and the gain on disposal is around US$1.4 million.
SBS Transit: SBS Transit said that it will receive S$29.2 million from the sale of operating assets to the Land Transport Authority (LTA). This is up from S$28.8 million as previously estimated, which was based on the net book value of the assets as at March 31, 2018. The amount is payable in cash with 60 per cent upfront, and the remaining 40 per cent payable over two years, subject to certain conditions.
Singapore Exchange: The Singapore Exchange (SGX) has led a US$53 million growth equity financing round in Trumid, a New York-based startup that runs an electronic corporate bond trading platform. This financing takes Trumid’s life-to-date external funding above US$100 million, it said on Tuesday.
Frasers Property: Frasers Property has raised S$1.2 billion in a syndicated secured green loan, with the net proceeds to be used to refinance existing loans related to the development of Frasers Tower, the company said on Tuesday evening. The loan, which has been drawn down by its indirect wholly owned subsidiary, is for a five-year period and is the first syndicated green loan under the Green Loan Principles in Singapore and South-east Asia.