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Stocks to watch: SingPost, SIA, Oxley
THESE companies had developments on Monday that might influence their stocks' trading on Tuesday.
Singapore Post: The Singapore Exchange said on Monday that it will wait for the results of Singapore Post's upcoming special corporate governance audit before assessing the postal and e-commerce group's compliance with listing rules. SingPost admitted last week that it had not properly disclosed a conflict of interest for one of its directors in an acquisition it made in 2014.
Singapore Airlines: SIA extended the deadline for its S$453 million takeover offer for Tiger Airways. The offer was supposed to close on Monday but Tiger's minority shareholders now have until 5.30pm on Jan 8 to accept the offer.
Oxley Holdings: The property developer said on Monday that it has accepted an unsolicited offer for Chiba Port Square, located in Chiba Prefecture, Japan, for US$60 million. The group has inked a memorandum of understanding for the deal with Greenland Hong Kong Investment Group and Japanese tax-free store chain operator LAOX Co Ltd. Oxley said it expects the sale of this property to have a positive impact on its earnings per share and net tangible assets per share for the current financial year ending June 30, 2016.