The following companies saw new developments that may affect trading of their securities on Thursday (Nov 2):
Singapore’s financial regulator is set to direct DBS Group Holdings to take further steps to resolve a spate of digital banking service outages.
“The frequency of outages is unacceptable, the slowness in recoverability is unacceptable,” Ravi Menon, managing director of the Monetary Authority of Singapore, said in an Oct 27 interview with Bloomberg News. “The problem is that the largest bank in Singapore with the largest number of customers has had more than its fair share of outages.” MAS will elaborate on what DBS should do this week, he added.
An Indirect wholly owned subsidiary of Genting Singapore has received provisional permission from the Urban Redevelopment Authority (URA) to develop 21,243 square metres (sq m) gross floor area (GFA) of retail space, and 700 hotel rooms at Resorts World Sentosa (RWS).
The retail space works out to 228,658 square feet.
The above scheme is expected to be part of the pledge Genting Singapore made in 2019 to invest S$4.5 billion to expand its RWS integrated resort with new non-gaming attractions. There are currently five hotels with a total of about 1,600 rooms in RWS.
Frasers Logistics & Commercial Trust (FLCT) posted a distribution per unit (DPU) of S$0.0352 for the second half ended September, down 6.6 per cent from S$0.0377 in H2 FY2022.
This was mainly due to lower income and higher expenses compared to the year prior, said the real estate investment trust’s (Reit) manager on Thursday (Nov 2).
FLCT’s revenue for H2 fell 0.8 per cent on the year to S$212.8 million from S$214.5 million previously.
Singapore Post(SingPost) is back in the black with a net profit of S$11.5 million for the fiscal first half ended Sep 30, from a net loss of S$9.9 million a year before.
The better performance was despite a fall in revenue. The net profit was driven by lower volume-related expenses and operating expenses, as well as a smaller loss on exceptional items.
The logistics business in Australia and the international cross-border business also boosted the results, said the group on Thursday (Nov 2).
Digital Core Reit said on Wednesday (Nov 1) that it has reached a definitive agreement to sell several Silicon Valley facilities for US$160 million to Brookfield Infrastructure Partners, under a series of agreements to resolve the bankruptcy of its second-largest customer.
The Reit manager did not name the customer, but it was previously reported to be Cyxtera Technologies, a global colocation and interconnection provider, which filed for bankruptcy protection in June.
Cyxtera said separately on Monday that it had entered into an asset-purchase agreement with Brookfield and its institutional partners, which will acquire substantially all of Cyxtera’s assets for US$775 million.
Furniture maker Koda has lodged a police report on the alleged misappropriation of funds amounting to around S$263,000 by a former employee of wholly-owned subsidiary Commune Lifestyle.
The misappropriated fund represents 0.4 per cent of the group’s net tangible assets as at June 30, based on its latest audited financial statements.
In a bourse filing on Wednesday (Nov 1), Koda said the employee, who was the administrator of the subsidiary’s payment gateway system, had made unauthorised changes to the system to direct monies received from credit card and contactless payment transactions into his own personal account.
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