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Stocks to watch: Noble, SIA, POSH
THESE companies had news that could influence their trading on Tuesday.
Noble Group: Founder and chairman Richard Elman has continued to boost his stake in the commodity trader after it was downgraded to junk status by two credit rating agencies. He bought 10 million shares on Friday for S$3.19 million, raising his stake to 22.13 per cent, according to a Singapore Exchange filing on Monday. He paid S$3.34 million for another 10 million shares on Monday, bringing his stake up to 22.28 per cent, according to a Singapore Exchange filing on Tuesday.
Singapore Airlines: SIA made its S$0.45-per-share takeover offer for Tiger Airways unconditional on Monday, while its stake in the budget carrier currently remains under the 80 per cent threshold. SIA had originally said that the offer was conditional upon it reaching a stake of over 90 per cent. Those that previously accepted the earlier deal have eight days from Monday's announcement to withdraw their acceptance, should they desire to.
PACC Offshore Services Holdings: POSH has bagged a contract to tow Shell's first floating liquefied natural gas plant to the Prelude gas field off Western Australia, through a joint venture with Seabridge Marine Services and Ezion Holdings, it said in a bourse filing on Monday.