Singapore inventory watch: SIA halts buying and selling for announcement

Singapore stock watch: SIA halts trading for announcement

SINGAPORE (THE BUSINESS TIMES, REUTERS) – The next firms noticed new developments which will have an effect on buying and selling of their securities on Thursday (March 26):

Singapore Airways (SIA). SIA referred to as for a uncommon buying and selling halt pending an announcement on Thursday morning,  days after it mentioned it might floor nearly its total fleet and search extra financing because it grapples with the coronavirus pandemic.

The airline didn’t present particulars to the inventory change on the subject of the deliberate announcement.

Singapore’s finance minister is ready to unveil new help measures for staff, companies and households in response to the pandemic afterward Thursday. 

 On Tuesday, the flag provider mentioned its pilots shall be positioned on obligatory no-pay depart of between 4 and 7 days a month beginning April 1, because the airline and its unions work collectively to save lots of jobs.

Only a day earlier than, SIA introduced that it was reducing 96 per cent of its deliberate capability initially scheduled as much as end-April given the additional tightening of border controls world wide over the past week. 

Additionally it is exploring methods to extend liquidity and cut back capital expenditure and working prices amid the continuing Covid-19 outbreak, it mentioned in a press release on Monday.

SIA shares closed 10.four per cent or $0.61 increased at $6.50 on Wednesday.

Sats: The mainboard-listed airport and meals companies supplier on Wednesday introduced that it’s providing $200 million in five-year notes with a set coupon fee of two.88 per cent each year payable semi-annually in arrear. The notes are in denominations of $250,000 and are anticipated to be issued on March 31, 2020. Shares of Sats closed up $0.36 or 13.2 per cent to $3.09 on Wednesday.

ComfortDelGro: The taxi-operator has elevated the every day rental aid by $10 in a bid to assist its cabbies who’re affected by the Covid-19 outbreak, mentioned the corporate in a press release on Wednesday. This implies cabbies will see a complete every day rental discount of $46.50 until the tip of April, as a substitute of the tip of March. The counter closed at $1.53 on Tuesday, up four per cent or $0.06.

OUE, OUE Industrial Actual Property Funding Belief (OUE C-Reit): Property group OUE and OUE C-Reit will rebrand Mandarin Orchard Singapore as Hilton Singapore Orchard to make it Hilton’s flagship resort in Singapore and its largest within the Asia-Pacific, OUE mentioned on Thursday. OUE shares closed up $0.02 or 2 per cent to $1.04, whereas OUE C-Reit models closed up 2.5 cents or 8.2 per cent to 33 cents on Wednesday.

Bonvests Holdings: The mainboard-listed property group introduced on Wednesday that it’s going to revoke its proposed dividend of 1 cent per share for the monetary yr ended Dec 31, 2019 on the again of the destructive impression of the Covid-19 outbreak on its enterprise. The proposed dividend was beforehand introduced on March 2 and is topic to shareholders’ approval on the annual basic assembly of the corporate to be held on April 29. Shares of Bonvests closed flat at $0.95 on Wednesday.

Wilmar Worldwide: The mainboard-listed agribusiness firm on Wednesday introduced the institution of 4 new subsidiaries within the Solomon Islands, China, Myanmar and Sri Lanka, in addition to an acquisition of one in all its subsidiaries in China. 100 On Ridge, then again, has been dissolved and has ceased to be a subsidiary. Wilmar shares closed up $0.24 or 7.9 per cent to $3.26 on Wednesday.

UMS Holdings: The precision engineering agency mentioned on Wednesday that its manufacturing facility in Penang will stay closed until April 14, in compliance with Malaysia’s extension of the motion management order. The agency had beforehand introduced that the manufacturing facility can be closed until March 31, however has now prolonged the closure interval. UMS shares closed up $0.04 or 6.7 per cent at $0.64 on Wednesday.

ARA US Hospitality Belief (ARA H-Belief): ARA H-Belief has initiated price controls by reducing labour price hours and staffing, closing sure amenities and facilities and reviewing all working contracts underneath its “price mitigation and capital preservation measures”, its managers introduced on Wednesday. This comes as its portfolio faces rising reserving cancellations and fewer new reservations. ARA H-Belief models had been buying and selling down US$0.03 or 8.5 per cent to US$0.33 on Wednesday.

Sim Leisure Group: The corporate introduced on Wednesday that it has integrated a 60 per cent-owned subsidiary, Sim Leisure Inventive, in Singapore. The subsidiary will have interaction within the leasing of non-financial intangible belongings comparable to patents and emblems, and supply administration consultancy companies. Sim Leisure shares closed 0.5 cent decrease or 2.Three per cent at 21 cents on Wednesday.

Geo Vitality Sources: Fitch rankings downgraded the mainboard-listed coal miner’s long-term issuer default ranking and the ranking on its subsidiary Geo Coal Worldwide’s excellent senior unsecured assured notes from B- to CC. The rankings downgrade displays the view {that a} default is possible inside the subsequent 12 months, given its weak working profile and deteriorating liquidity, Fitch mentioned on Wednesday. Geo Vitality shares had been up 1.Three per cent to $0.08 on Wednesday.

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