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Stocks to watch: China Sunsine Chemical, DLF Holdings, Sapphire Corp, DBS, OCBC
THE following companies saw new developments that may affect trading of their shares on Wednesday:
China Sunsine Chemical Holdings: The speciality rubber chemicals producer on Tuesday said the group is expected to record lower revenue and profit for fiscal 2020 than it did for the preceding financial year ended Dec 31, 2019. The company will announce its unaudited financial results for the six-month period ending June 30 by Aug 14. Shares of China Sunsine Chemical closed at 38.5 Singapore cents on Tuesday, up two cents or 5.5 per cent before this announcement.
DBS, OCBC Bank: A consortium of investors led by Heliconia Capital Management, the investment firm owned by Temasek Holdings, may soon come to the rescue of struggling Singapore boxship operator Pacific International Lines (PIL). DBS Group and OCBC Bank are among its secured lenders. Shares of DBS closed at S$19.44 on Tuesday, up S$0.26 or 1.4 per cent, while OCBC shares finished at S$8.61, up S$0.12 or 1.4 per cent.
DLF Holdings: Catalist-listed DLF Holdings on Tuesday announced after trading hours that it is convening an extraordinary general meeting to seek shareholders' approval for its plan to expand into blockchain agency and related businesses. The counter last traded on Sept 5, 2019.
Sapphire Corporation: Sapphire Corporation's subsidiary Ranken Railway Construction Group has secured two engineering, procurement and construction contracts in Xinjiang's capital Urumqi, and a lease of its tunnel-boring machine - deals with a total value of about 235.9 million yuan (S$47.66 million). The counter closed at 4.2 Singapore cents, up 0.1 cent or 2.4 per cent on Tuesday, before this announcement.
Trading halt: Singapore Exchange (SGX) requested for a trading halt on Wednesday morning, before the market opened. The Singapore bourse on Wednesday said it will discontinue its MSCI equity index futures and options contracts, save for those under MSCI Singapore, when their licence agreements expire in February next year. Shares of SGX closed at S$9.90 on Tuesday, up S$0.07 or 0.7 per cent.