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Stocks to watch: SGX, LionGold, NOL, SingPost
HERE are a few stocks that made the headlines on Thursday morning.
Singapore Exchange: SGX delayed the stock market's open on Wednesday by 3.5 hours after a software glitch - its second major market disruption in a month. Chief executive Magnus Bocker apologised and the Monetary Authority of Singapore warned that it could take unprecedented supervisory action. SGX shares eased 0.6 per cent or four Singapore cents to close at S$7.23 on Wednesday.
LionGold Corp: The company said on Wednesday that it would divest its remaining 10 per cent stake in the Amayapampa Gold Project in Bolivia to Silvermane Investments for S$3.5 million. The gold miner was one of several embroiled in the penny stock crash of October 2013 and is still being investigated by Singapore's Commercial Affairs Department for possible breaches of securities laws in the trading of its shares during that episode.
Neptune Orient Lines: The company is said to have short-listed potential buyers for its logistics unit, APL Logistics. Reports said that three companies have been selected to make final bids for APL Logistics, while two more have been chosen to conduct due diligence on it. NOL is reportedly seeking a price of about US$1 billion. NOL shares closed trading two cents lower at S$0.81 on Wednesday.
Singapore Post: The company's e-commerce logistics unit Quantium Solutions has acquired Australia-based parcel delivery company Couriers Please Holdings for A$95 million (S$105 million). SingPost said on Wednesday morning that it is buying Couriers Please from New Zealand Post Group and that the purchase would be funded internally. Shares in SingPost closed half a cent higher at S$1.915 on Wednesday.