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Stocks to watch: OCBC, Keppel Infra Trust, Kimly, Jumbo, mm2 Asia, United Global, Biolidics
THE following companies saw new developments that may affect trading of their securities on Wednesday:
OCBC Bank: The lender has priced A$500 million (S$463 million) of senior floating-rate green notes due 2022 under its US$30 billion global medium term note programme. The notes will bear interest at the three-month Australian bank bill swap rate plus 63 basis points per annum, payable quarterly in arrear. They are expected to be rated Aa1 by Moody's, AA- by S&P Global Ratings, and AA- by Fitch Ratings and will be issued by OCBC Bank, acting through its Sydney branch. OCBC shares closed at S$10.92 on Tuesday, down four Singapore cents or 0.4 per cent.
Keppel Infrastructure Trust (KIT): KIT's Australian unit, Basslink, has got a one-year extension on the maturity date of a loan for its undersea electricity cable, it said in a bourse filing on Wednesday. Basslink, an undersea power cable company, said financiers of the cable, the Basslink Interconnector, have also extended the waiver of all breaches and events of default under the project by a year. The interconnector links the electricity grids of Victoria and Tasmania in Australia. KIT units closed up S$0.01 or 1.9 per cent to S$0.535 on Tuesday.
Kimly: The Catalist-listed coffee shop operator saw a 6 per cent fall in net profit to S$5.4 million for the fourth quarter ended Sept 30, on the back of lower revenue and higher income tax expense. Revenue inched down 0.9 per cent to S$52.5 million, while gross profit fell 2.7 per cent to S$10.7 million. Kimly shares rose 0.5 Singapore cent or 2.17 per cent to 23.5 cents on Tuesday before the results were announced.
Jumbo Group: The seafood restaurant operator saw net profit rise 5.9 per cent to S$11.7 million for the full year ended Sept 30, 2019 despite a marginal decrease in revenue. While turnover dipped 0.1 per cent to S$153.6 million, the group's cost-control measures led to gross profit rising 1.4 per cent to S$97.7 million. Jumbo shares closed flat at S$0.37 on Tuesday.
mm2 Asia: The entertainment company on Wednesday said it is launching a free-to-use video streaming service called mPlay Asia in April 2020. The new streaming service will be launched in key Chinese-speaking markets – identified as Singapore, Malaysia, Taiwan and Hong Kong - and leverage the group’s regional production capabilities and experience in serving the region’s audience base. mm2 shares closed at S$0.28 on Tuesday, up 0.5 cent or 1.8 per cent before the announcement.
United Global: The Catalist-listed lubricant manufacturer and trader on Tuesday said it has completed the partial disposal, or a 40 per cent stake in its unit, United Oil Company to global energy company, Repsol Downstream Internacional. United Global shares last traded at 50 Singapore cents on Nov 14.
Biolidics: The cancer diagnostics company has inked a definitive agreement with Japan-based healthcare group Sysmex to jointly develop a liquid biopsy cancer diagnostic test. Under the definitive agreement, both companies will combine their technologies to come up with a laboratory-developed test with an established workflow process. The counter closed at S$0.265 on Tuesday, up 0.5 Singapore cent or 1.9 per cent.
Trading halt: HealthBank Holdings has called for a trading halt pending the release of an announcement. Its counter closed flat at S$0.14 on Tuesday.