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Stocks to watch: Geo Energy, Credit Bureau Asia, Addvalue Technologies
THE following companies saw new developments that may affect trading of their securities on Thursday:
Geo Energy Resources: It has reached the minimum threshold for its coal reserves, and will not have to make a mandatory offer to purchase US$59.2 million worth of outstanding 8 per cent senior notes. Shares of mainboard-listed Geo Energy closed at 12.5 Singapore cents on Wednesday, up 0.2 cent or 1.6 per cent, before the announcement.
Credit Bureau Asia (CBA): The credit and risk-information solutions provider received applications from retail investors for 60.8 times the number of shares available in the public portion of its initial public offering. it announced on Wednesday. Trading of its shares is expected to commence at 9am on Thursday on the bourse's mainboard.
Addvalue Technologies: The group's wholly-owned unit Addvalue Innovation has partnered satellite communications firms Inmarsat and Pivotel to offer a connectivity solution for owners and operators of sport-fishing vessels in the US. Shares of mainboard-listed Addvalue closed flat at 2.2 Singapore cents on Wednesday.
DBS, OCBC, UOB: Singapore banks on Wednesday said they have ramped up support for micro-enterprises with collateral-free loans. OCBC said it has to date worked with close to 6,000 micro and small businesses with collateral-free loans totalling over S$1 billion; UOB has disbursed more than S$1.3 billion since March 2020; while DBS has approved some S$800 million in loans for micro-enterprises since March. On Wednesday, DBS shares closed 0.5 per cent or S$0.13 higher at S$25.32; UOB rose 0.8 per cent or S$0.18 at S$22.75; while OCBC increased 0.6 per cent or S$0.06 to S$10.05.
CDW Holding: The Japanese-managed precision-components maker made a US$46,000 net profit for the nine months ended September, reversing the US$1.9 million loss from a year ago. Shares of mainboard-listed CDW closed at 17.3 Singapore cents on Wednesday, up 3.2 cents or 22.7 per cent.