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Stocks to watch: Sembcorp Industries, Magnus Energy, KLW, China Bearing (S), Challenger
THE following companies saw new developments that may affect trading of their shares on Friday:
Sembcorp Industries: Sembcorp is redeeming S$200 million of 5 per cent subordinated perpetual securities that were issued under its S$2.5 billion multicurrency debt issuance programme, the industrial conglomerate announced on Friday before the market opened.
Magnus Energy: Magnus is placing out 2.53 billion new shares at 0.09 Singapore cent apiece to four parties to raise S$2.28 million in cash. The four individuals are Lee Thiam Seng, Ong Boon Tiong Daniel, Low Chin Yen and Liu Bin. According to the company's filing with the Singapore Exchange, they are "private investors who have expressed their interest in taking up new shares in the company for investment purposes".
KLW Holdings: The Catalist-listed doormaker has reclassified certain items in its financial statements for the financial year ended March 31, 2018, after adopting proposed changes by its external auditors. The reclassification has been reflected in the company's audited financial statements for FY2018, which will be released to shareholders in due course.
China Bearing (Singapore): The cash company announced a slew of leadership changes late on Thursday.This came after the completion of the company's acquisition of FE Resources. The sale and purchase agreement was entered into between China Bearing (Singapore), Far East Mining, FE Resources and PT Anugrah Tambang Sejahtera on Oct 27, 2016 to acquire FE Resources.
Challenger Technologies: Challenger announced on Thursday that it has secured two new leases in Singapore. The first is at a pre-owned IT store in JCube and the second is Musica Boutique in Ion Orchard. The former will commence operations in the third quarter of 2018, while the latter will begin in the fourth quarter.