[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Tuesday (Jul 8):
OCBC: The bank aims to extend an additional S$3.5 billion in loans to serial entrepreneurs in its core markets by 2028 as part of its serial entrepreneur lending programme. This brings the total loan quantum under the initiative to S$5 billion by 2028, and builds on the S$1.5 billion in financing it already extends to over 1,8000 serial entrepreneurs with more than 8,000 businesses across Singapore and Malaysia as at end-2024, OCBC said on Monday. The counter finished 0.5 per cent or S$0.09 higher at S$16.57, before the news.
Singapore Airlines (SIA): The national carrier on Monday said its proposed joint venture with Malaysia Airlines received conditional approval from the Competition and Consumer Commission of Singapore. The commercial cooperation, which is still subject to regulatory approval from the Malaysian Aviation Commission, will see both airlines cooperate on scheduling, pricing, sales and marketing, expanded codesharing of flights, among other things, on routes between Singapore and Malaysia. SIA shares closed 0.3 per cent or S$0.02 higher at S$7.05, before the announcement.
Singapore Exchange (SGX): Singapore’s equities market got its biggest initial public offering (IPO) of a Singapore real estate investment trust (Reit) in over a decade. This came as NTT DC Reit on Monday launched its IPO and listed over a billion units on the mainboard of the SGX to raise gross proceeds of US$773 million. Shares of SGX ended Monday 0.1 per cent or S$0.01 down at S$15.16, before the news.
GuocoLand: The real estate company announced on Monday that its wholly owned subsidiary, GLL IHT, has priced its second tranche of perpetual securities offering of S$120 million at 4.35 per cent under its S$3 billion multicurrency medium-term note programme. It will be consolidated and form a single series with the first tranche of perpetual securities of S$180 million at 4.35 per cent. The second tranche will be issued at the issue price of 100.429 per cent plus accrued distribution in respect of the period from, and including Feb 25 to (but excluding) Jul 14. Shares of GuocoLand closed 0.7 per cent or S$0.01 lower at S$1.53, before the news.
China Aviation Oil: The company announced that Singapore’s Court of Appeal on Monday upheld a prior court decision that dismissed claims made against it by a Swiss bank. The company said it was awarded costs of S$100,000 and that the Court of Appeal’s judgment was final and not appealable. The counter finished Monday 1.1 per cent or S$0.01 lower at S$0.915.
Del Monte Pacific: Its subsidiary, Del Monte Philippines, posted a 40 per cent rise in earnings before interest, taxes, depreciation and amortisation to 8.6 billion pesos (S$194 million) compared with the year-ago period. Its total sales grew 14 per cent to 44.2 billion pesos, as global sales jumped 22 per cent, fuelled by exports of fresh pineapple and packaged products. Del Monte Pacific’s share price rose S$0.016 or 28.6 per cent to close at S$0.072 on Monday.