THE following companies saw new developments that may affect trading of their securities on Friday (Mar 17):
Thai Beverage: THAI Beverage (ThaiBev) clarified that it has no concrete plans to list or sale its spirits business, after Bloomberg reported that it is exploring options that include an initial public offering in Singapore.
In a late night bourse filing on Thursday (Mar 16), ThaiBev said it “continually evaluates strategies and opportunities to optimise its various businesses, and regularly engages with professional advisers and banks”.
In making the clarification, the company also said it remains confident in its spirits product group, which it calls one of the leading spirits players in Asean and the largest in Thailand, and a core business line for the group.
Keppel: KEPPEL Corp has inked a pact with Cambodia’s Royal Group Power for the long-term import and sale of one gigawatt (GW) of low-carbon electricity, in a move that marks Singapore’s largest cross-border electricity contract and progress in the city-state’s decarbonisation goals for the power sector.
This development also makes Keppel the first to clinch conditional approval from Singapore’s Energy Market Authority (EMA) in its search for parties to import and sell up to 4 GW of low-carbon electricity by 2035, said EMA in a statement on Thursday (Mar 16).
The conditional go-ahead was awarded to Keppel Energy, wholly owned by Keppel Infrastructure, which counts Keppel as parent company.
Top Glove: THE ongoing glove oversupply situation, a softer order book and rising production costs have led Top Glove : BVA 0% to turn in a net loss of RM164.7 million (S$49.4 million) for the second quarter of FY2023.
This translates to a loss per share (LPS) of 2.06 sen, as opposed to the 1.09 sen earnings per share (EPS) recorded the previous year.
For the quarter ended Feb 28, 2023, the glove manufacturer reported revenue of RM618 million, representing a 58 per cent decline from RM1.5 billion in revenue for Q2 FY2022.
Southern Alliance Mining: MALAYSIAN iron-ore producer Southern Alliance Mining has sunk into the red with a net loss of RM7 million (S$2.1 million) for its financial first half ended Jan 31.
The Catalist-listed company’s net profit in the year-ago period was RM19.6 million.
Revenue fell to RM52.2 million for the same period, down 47 per cent from RM98.5 million last year.