The following companies saw new developments that may affect trading of their securities on Thursday (Dec 28):
Seatrium’s wholly owned subsidiary, Seatrium Financial Services, has refinanced an existing loan facility due February 2024 with a S$400 million loan from DBS.
The three-year committed loan facility includes a sustainability-linked conversion option aligned to sustainability-linked loan principles.
This is expected to support Seatrium in achieving its environmental, social and governance (ESG) goals over time, said the group on Thursday (Dec 28).
Transport operator ComfortDelGro will increase its commissions from cabbies to 7 per cent from 5 per cent from Jan 1, 2024. This will be applicable to app and phone-booked rides.
The hike was reported by Chinese language daily Lianhe Zaobao on Dec 26 and follows a fare increase and extended surcharge hours aimed at helping taxi drivers defray higher operating costs. ComfortDelGro said the revised fares and surcharge hours will contribute to higher earnings for drivers.
In the story, ComfortDelGro cited higher cost of operations in maintaining and upgrading technology systems and higher financial charges for cashless transactions as reasons for the increase. The company will waive commissions on all fares S$9 and below from Jan 1 to Mar 31 to cushion the impact on drivers.
A Memorandum of understanding has been inked by Samudera Shipping to acquire two ethylene gas vessels for US$12.6 million, said the company in an announcement on Wednesday (Dec 27).
The vessels are Bahamas-flagged and were built in 2009 and 2010. They will be renamed Sinar Ternate and Sinar Tidore. The company will determine the flag of the vessels before their deliveries.
This acquisition will be financed via bank borrowings and internal resources.
An External consultant appointed by Koda has said that there are no major red flags after corrective actions were taken following the misappropriation of funds from subsidiary Commune Lifestyle.
The furniture maker had lodged a police report on the alleged misappropriation of funds of about S$263,000 by a former employee in November 2023.
The consultant GENS Management Consultancy found no processes or activities that did not serve their intended purpose in the phase one review. However there were some low-risk findings uncovered by the consultant following the actions taken by Koda.
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