Stocks to watch: Rex International, Raffles Infrastructure

THE following companies saw new developments that may affect trading of their securities on Wednesday (Jun 29):

Rex International : The senior secured bond of its 91.7 per cent-owned subsidiary, Lime Petroleum, has been fully subscribed, Rex announced on Wednesday. The bond, worth 950 million Norwegian krones (S$134.2 million), will be used to refinance an existing senior secured bond, as well as further acquisitions on the Norwegian Continental Shelf. Shares of Rex International ended Tuesday up 3.6 per cent or S$0.01 at S$0.285.

Raffles Infrastructure : The company said on Wednesday that it had dismissed Ma Zhi, the firm’s executive director, after Ma “failed to meet the standards of the duties and obligations of an executive director of the company”. No further details were provided as shares of the infrastructure investor firm closed flat at S$0.06 on Tuesday.