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Stocks to watch: SGX, Singapore Airlines, IHH, Sapphire, Boustead Projects, USP

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Most directors of SIA have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of a larger cash call in April.

THE following companies saw new developments that may affect trading of their securities on Tuesday:

Singapore Exchange (SGX): SGX will launch 10 Singapore Single Stock Futures on June 15 in response to growing demand for a broader suite of Singapore-linked equities products, it said on Tuesday. Shares of SGX closed up S$0.14 or 1.7 per cent to S$8.42 on Monday.


Singapore Airlines (SIA): Most directors of SIA have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of a larger cash call in April.

Separately, registered holders of the 5x Short SIA daily leveraged certificates (DLCs) who were disadvantaged by issuer Societe Generale's late disclosure about its ex-rights adjustment to the price of the structured products will receive a S$0.30 "goodwill" payment per DLC within five business days from June 2. Shares of SIA closed up S$0.06 or 1.6 per cent to S$3.88 on Monday.


IHH Healthcare: The mainboard-listed healthcare heavyweight on Monday evening said its chief financial officer Low Soon Teck has resigned "to pursue his own interests or other opportunities". Shares of IHH gained S$0.04 or 2.3 per cent to close at S$1.80 on Monday, before the announcement.


Sapphire Corp: The mainboard-listed infrastructure design and construction group on Tuesday said it has agreed to sell a 43.87 per cent stake in Ranken Railway for some 280 million yuan (S$55.2 million) in cash. The counter last traded at 5.5 Singapore cents on May 27.


Boustead Projects: The mainboard-listed company has amicably resolved a lawsuit filed against it in November 2018 by YCH Holdings, it said in a bourse filing on Tuesday. Both parties entered into a settlement without any admission of liability. Shares of Boustead Projects finished Monday at 75.5 Singapore cents, up 1.5 cents or 2 per cent.


USP Group: Key management personnel of USP Group have voluntarily taken a 30 per cent reduction in remuneration, with the middle management and the rest of staff taking a pay cut ranging from 10 to 20 per cent amid the Covid-19 pandemic, the watch-listed company said in a bourse filing late on Monday night. Shares in USP last traded at 7.5 Singapore cents on May 22.


Starhill Global Real Estate Investment Trust (Starhill Global Reit): Starhill Global Reit has closed the order book for S$100 million of five-year notes, recording S$225 million from 26 accounts, joint lead manager and bookrunner DBS said on Monday. Units of Starhill Global Reit closed one Singapore cent or 2.1 per cent higher at 49.5 cents on Monday.

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