You are here
Stocks to watch: SIA, Keppel Corp, IEV, Global Invacom, Debao
THE following companies saw new developments which may affect trading of their shares on Friday:
Singapore Airlines: Singapore Airlines is raising S$600 million in order to fund aircraft purchases and aircraft related payments, it said on Wednesday after market close. Its five-year notes will bear a 3.16 per cent interest and are expected to mature in 2023. They will be issued at an issue price of 100 per cent of their principal amount and in denominations of S$250,000. They are expected to be issued on Oct 25, 2018, subject to satisfaction of customary closing conditions.
Keppel Corporation: Keppel Corporation on Thursday posted a 15 per cent drop in third-quarter earnings at S$225.7 million, mainly due to lower contributions from its investments and property divisions, offsetting stronger performance in its infrastructure and offshore & marine (O&M) divisions. Its O&M division registered a net profit of S$2 million for the three months ended Sept 2018, bucking three consecutive quarters of losses.
IEV Holdings: Catalist-listed IEV Holdings on Thursday issued a clarification and corrigendum regarding its proposed disposal of its entire 95 per cent stake in loss-making, indirectly-owned subsidiary PT IEV Gas. In its Thursday filing, IEV Holdings said that its unit IEV Energy Sdn Bhd had on Oct 15 entered into a conditional sale and purchase agreement for the proposed disposal of 630,910 ordinary shares representing 95 per cent of the total issued and paid-up share capital of PT IEV Gas, for a total consideration of 960 million rupiah (S$87,000). This corrects its Tuesday announcement, where the total consideration was stated as 7.48 billion rupiah.
Global Invacom Group: Satellite communications equipment provider Global Invacom Group is contemplating "an acquisition which, if approved and completed, would constitute a reverse takeover", it announced in a London Stock Exchange (LSE) filing on Thursday. The same announcement was subsequently made on the Singapore Exchange (SGX) on Thursday evening.
Debao Property Development: Debao Property Development said on Thursday night that the Accounting and Corporate Regulatory Authority (Acra) has granted it an extension of the deadline by which it must hold its annual general meeting (AGM) for the 2017 financial year. Originally due by April 30, the shareholder meeting must now be held by Nov 30.