You are here

Stocks to watch: Frasers Centrepoint Trust, Singapore banks, ThaiBev, Sunpower

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

Frasers Centrepoint Trust (FCT): Its private placement closed on Tuesday about 2.8 times subscribed and priced at the bottom end of the range, with the upsize option not exercised. Meanwhile, the preferential offering has been priced at S$2.34 per new unit, also at the low end of the range. FCT units closed at S$2.52 on Friday, and the manager called for a trading halt on Monday morning. The manager on Tuesday requested to lift the halt.

DBS, OCBC, UOB: Fitch Ratings has affirmed its AA- ratings on Singapore banks and removed the trio from rating watch negative, given that the materialisation of stressed conditions have become "less immediate". DBS shares closed up S$0.21 or 1 per cent to S$20.22, OCBC rose S$0.06 or 0.7 per cent to S$8.52 and UOB closed up S$0.18 or 0.9 per cent to S$19.28 on Monday.

Thai Beverage Public Co (ThaiBev): ThaiBev on Monday said its executive committee has approved the appointment of five senior management staff and two senior vice-presidents to help the company realise its growth objectives. Shares of ThaiBev ended Monday at 59.5 Singapore cents before the announcement, up one cent or 1.7 per cent.

Sunpower Group: The mainboard-listed firm has secured manufacturing and services orders worth over 76 million yuan (S$15.3 million) from two repeat customers. Shares of Sunpower closed down 0.5 Singapore cent or 0.9 per cent to 52.5 cents on Monday.

Your feedback is important to us

Tell us what you think. Email us at btuserfeedback@sph.com.sg

USP Group: The watch-listed company on Monday night said the employment of an errant staff at its Indonesian subsidiary was terminated after the staff was found to have misappropriated a sum not exceeding S$20,000. Shares of USP last traded at 7.1 Singapore cents on Sept 16.

A-Smart Holdings: The printing firm recorded a net profit of S$86,000 for the six months ended July 31 (H2 2020), reversing a net loss of S$2.12 million for the year-ago period. A-Smart closed on Monday at 29.5 Singapore cents, down 0.5 cent or 1.7 per cent before its results were released.

Trading halts: CapitaLand Commercial Trust (CCT) and CapitaLand Mall Trust (CMT) have requested trading halts on Tuesday morning ahead of extraordinary general meetings scheduled later in the day to seek approval for their proposed merger. Units of CCT closed down S$0.02 or 1.2 per cent to S$1.69 and CMT units closed flat at S$1.99 on Monday.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes