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Stocks to watch: SMRT, Serrano, oil-related counters
THE following companies' share prices may be affected on Friday due to new developments:
SMRT Corporation: Shares of the transport operator are expected to resume trading on Friday after a one-day halt. Key to watch would be how Temasek Holdings' buyout offer - now approved - at S$1.68 per share will affect SMRT's share price on Friday. The trading halt was requested before the commencement of two shareholder meetings on Thursday, one of which approved Temasek's buyout offer.
Serrano: Catalist-listed Serrano and its subsidiary Serrano Holdings have been asked to pay about S$33.4 million within seven days from Sept 26, 2016. Separately, two bankruptcy proceedings against its directors have been adjourned to Oct 20.
Oil and energy-related counters: The Organization of the Petroleum Exporting Countries has shocked markets with a deal to cut oil output after kingpin Saudi Arabia allowed bitter rival Iran to be exempted, but analysts have warned the move would not likely have a lasting impact.