Here are some stocks that could move the market this Thursday morning.
Singapore Post has introduced a Code of Business Conduct and Ethics for its Board directors to strengthen the corporate governance foundation of the company. It has also established new policies for governing conflicts of interest, and Board renewal and tenure. Ensuring compliance with the code will be the responsibility of the Nominations and Corporate Governance Committee. SingPost shares closed at $1.56 on Wednesday.
Fraser and Neave is acquiring Warburg Vending, Warburg Engineering and Warburg Vending Services for about $29 million in cash through its wholly-owned subsidiary, F&N Foods. Warburg is the leading player in the Singapore vending market with over 18 years of operational experience. The acquisition is earnings accretive and will be funded fully from internal sources. Shares of F&N closed flat at $2.08 on Wednesday.
Noble Group’s credit rating was cut by S&P Global Ratings for the second time in six months, citing its weakened liquidity position and higher funding costs despite recent efforts to raise cash. The rating was lowered to B+ from BB-, with a negative outlook, according to a statement on Wednesday. Noble Group closed at 23 cents.
Singapore Airlines’ passenger carriage (measured in revenue-passenger-kilometres) fell 2.9% y-o-y in May with a 1.6% reduction in capacity (measured in available-seat-kilometres). Passenger load factor (PLF) dropped 0.9 percentage points to 72.7%. SIA will also start a daily non-stop flight from Singapore to San Francisco on Oct 23 using new Airbus A350-900 aircraft, according to Bloomberg. SIA closed at $10.52.
Global Logistic Properties on Wednesday announced it has leased out a 32,000 sqm property in northern New Jersey to an unnamed “global logistics firm”. In a separate filing on Monday morning, GLP announced it will further syndicate interest of 9.09% in its US target portfolio to new co-investor for US$180 million ($243 million). GLP closed 0.28% at $1.79.
Isetan (Singapore) on Wednesday announced the proposed disposal of Tai Wah Building at 112 Killiney Road to Soon Li Heng Civil Engineering for $10 million, exclusive of goods and services tax. Isetan said the group only holds 4,316 sq ft freehold property to earn rental income, and that it is not material to its business. Isetan last closed at $3.75.
mm2 Asia is partnering Fox Networks Group Asia’s flagship Chinese movies channel, SCM, to co-produce two new Taiwanese productions, Turn Around, a youth comedy based on the true story of a teacher and his unique teaching methods and Don’t Wanna Say Goodbye, a youth romance drama. The counter closed 2.2% lower at 68 cents on Wednesday.
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Singapore Post has introduced a Code of Business Conduct and Ethics for its Board directors to strengthen the corporate governance foundation of the company. It has also established new policies for governing conflicts of interest, and Board renewal and tenure. Ensuring compliance with the code will be the responsibility of the Nominations and Corporate Governance Committee. SingPost shares closed at $1.56 on Wednesday.
Fraser and Neave is acquiring Warburg Vending, Warburg Engineering and Warburg Vending Services for about $29 million in cash through its wholly-owned subsidiary, F&N Foods. Warburg is the leading player in the Singapore vending market with over 18 years of operational experience. The acquisition is earnings accretive and will be funded fully from internal sources. Shares of F&N closed flat at $2.08 on Wednesday.
Noble Group’s credit rating was cut by S&P Global Ratings for the second time in six months, citing its weakened liquidity position and higher funding costs despite recent efforts to raise cash. The rating was lowered to B+ from BB-, with a negative outlook, according to a statement on Wednesday. Noble Group closed at 23 cents.
Singapore Airlines’ passenger carriage (measured in revenue-passenger-kilometres) fell 2.9% y-o-y in May with a 1.6% reduction in capacity (measured in available-seat-kilometres). Passenger load factor (PLF) dropped 0.9 percentage points to 72.7%. SIA will also start a daily non-stop flight from Singapore to San Francisco on Oct 23 using new Airbus A350-900 aircraft, according to Bloomberg. SIA closed at $10.52.
Global Logistic Properties on Wednesday announced it has leased out a 32,000 sqm property in northern New Jersey to an unnamed “global logistics firm”. In a separate filing on Monday morning, GLP announced it will further syndicate interest of 9.09% in its US target portfolio to new co-investor for US$180 million ($243 million). GLP closed 0.28% at $1.79.
Isetan (Singapore) on Wednesday announced the proposed disposal of Tai Wah Building at 112 Killiney Road to Soon Li Heng Civil Engineering for $10 million, exclusive of goods and services tax. Isetan said the group only holds 4,316 sq ft freehold property to earn rental income, and that it is not material to its business. Isetan last closed at $3.75.
mm2 Asia is partnering Fox Networks Group Asia’s flagship Chinese movies channel, SCM, to co-produce two new Taiwanese productions, Turn Around, a youth comedy based on the true story of a teacher and his unique teaching methods and Don’t Wanna Say Goodbye, a youth romance drama. The counter closed 2.2% lower at 68 cents on Wednesday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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