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Stocks to watch: Noble, Annica, Nam Cheong, TT International, Frasers Property
The following companies saw new developments which may affect trading of their shares on Monday:
Noble Group: Noble Group’s founder will not take up the post of executive director post-restructuring as previously envisaged. Richard Elman has cited personal reasons for his decision, Noble said before Monday’s trading hours. It added that further details of the members of its new board will be announced once identified and finalised, before the restructuring's effective date.
Annica Holdings: Catalist-listed Annica Holdings has incorporated a new unit in Brunei through its wholly owned subsidiary PJ Services (PJS). On Saturday, the investment holding company, which has subsidiaries operating mainly in Singapore, Malaysia, Indonesia, Thailand and Vietnam, said that Panah Jaya Makmur Sdn Bhd was incorporated on Aug 18. The issued and paid-up share capital is B$1,000 (S$1,260), comprising of 1,000 ordinary shares at B$1 each.
Nam Cheong: Shipbuilder Nam Cheong has received approval from the Singapore Exchange (SGX) for more time to announce its Q1 2018 and Q2 2018 results. The SGX has no objections to the company announcing the results by Aug 31, and to hold its annual general meeting (AGM) by Aug 20 based on the company’s submissions and representations. The firm applied for its second time extension on July 24. Its first application was on April 12.
TT International: An indirect Indonesian subsidiary of TT International has been placed under a suspension of debt payment obligations regime, following a petition submitted by creditor PT Bank Resona Perdana to the Central Jakarta District Court. The mainboard-listed company said on Friday evening that the court had on Thursday granted the petition and has placed PT Sumber Electrindo Makmur under the regime.
Frasers Property: Frasers Property said on Friday that its subsidiary, Frasers Property Holdings (Thailand), has issued two more offerings under its 25 billion baht (S$1.03 billion) debenture programme on Aug 17. In a filing with the Singapore Exchange, Frasers said that under the programme, Frasers Property Holdings (Thailand) issued 2.3 billion baht in aggregate principal amount of 3.02 per cent debentures due 2022, and 1.2 billion baht in aggregate principal amount of 3.88 per cent debentures due 2028.