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Stocks to watch: SIA, Cortina, Blumont, New Silkroutes, Wilmar, Top Glove
THE following companies saw new developments that may affect trading of their securities on Tuesday:
Singapore Airlines (SIA): The flag carrier on Monday upsized its multicurrency medium-term note programme limit to S$10 billion, from S$5 billion previously. Separately, The Business Times wrote that air travel bubble travellers deciding to fly with SIA or Cathay Pacific may want to consider one non-price distinction between the two: Covid-covered add-on travel insurance. SIA shares rose 1 per cent to S$3.87 at Monday's close.
Cortina Holdings: The luxury watch retailer has proposed to acquire Sincere Watch for S$84.5 million in cash, it said in an exchange filing Tuesday morning. Shares of the mainboard-listed firm rose S$0.03 or 1.5 per cent to close at S$2.07 on Monday.
Blumont Group: Businessman Mark Wee Liang Yee has triggered a mandatory unconditional cash offer to buy out the investment holding company. But unlike most offers which are at premiums to the prevailing trading prices, Mr Wee's offer carries an 80 per cent discount to Blumont's share price. The mainboard-listed stock closed flat at 0.2 Singapore cent on Monday, before the announcement.
New Silkroutes Group: The healthcare and energy firm has appointed chief executive VicPearly Wong as executive director, and Lincoln Kwok as its finance director. New Silkroutes shares closed at 8.6 Singapore cents on Monday, up 0.1 cent or 1.2 per cent, before the announcements.
Wilmar International: The agribusiness group on Monday evening announced its inclusion to the Dow Jones Sustainability Indices, under the Asia-Pacific Index for the Food, Beverage and Tobacco industry grouping. Wilmar's shares added S$0.03 or 0.7 per cent to close at S$4.30.
Top Glove: The Malaysian glove maker will seek clarification with the authorities regarding the implementation of the enhanced movement control order from Nov 17 to Nov 30 on specific foreign worker dormitories in Klang. Its shares tumbled S$0.16 or 6.3 per cent to end at S$2.37 on Monday, before the announcement.
Genting Singapore: Shares of the integrated resort operator, its Malaysian counterpart and their parent company all surged on Monday, boosted by a quarter-on-quarter turnaround in the Singapore firm's bottom line. Shares of Genting Singapore closed six Singapore cents or 8.1 per cent higher at 80.5 cents.
Medtecs International: The medical products supplier's shares ended Monday higher after it said it is planning to transfer its listing to the mainboard of the Singapore Exchange. The counter traded as high as S$1.02 before closing at 99 cents, up 10.5 cents or 11.9 per cent.
Jumbo Group: The seafood restaurant group expects to report a net loss for FY20, following a preliminary review of its financial results for the fiscal year ended Sept 30. Its shares closed unchanged at 32.5 Singapore cents on Monday, before the profit guidance.
Trading halt: The manager of CapitaLand Retail China Trust (CRCT) requested a trading halt on Tuesday morning, before announcing an equity fundraising to raise no less than S$300 million. Units of CRCT closed S$0.02 or 1.6 per cent higher at S$1.28 on Monday.