THE following companies saw new developments that may affect trading of their securities on Thursday (Jun 16):
Singtel: Singtel Group’s Australian subsidiary Optus will directly oversee its own enterprise division starting 1 July.
In an announcement, Singtel said the transfer of the management of this division to Australia is part of the group’s move to further decentralise its organisational structure.
The move will also give Optus more operational autonomy, and direct accountability said Singtel.
Optus’ enterprise business revenue was A$1.21b in the financial year ended March 2022.
“Optus has been part of the Singtel stable for two decades and a leading player in the Australian consumer market. Given the hyper digitalisation that enterprises are currently experiencing, this is also timely as Optus can focus on advancing its growth as a B2B player,” Singtel Group CEO, Yuen Kuan Moon, said.
Singapore Airlines: Singapore Airlines is progressing on its recovery runway as the mainboard-listed group in May logged the highest passenger traffic and load factor since the pandemic hit in early 2020.
The national carrier with budget arm Scoot together flew a total of 1.7 million passengers, 17.4 per cent more than that in April, when Singapore dropped most of its border requirements for vaccinated travellers.
Procurri: IT solutions provider Procurri Corporation on Thursday (Jun 16) announced changes to its board of directors effective Jun 15, including the cessation of its non-independent non-executive director Loke Wai San.
Loke, who is founder and managing director of private equity fund adviser NovoTellus Capital Partners, resigned after Novo Tellus PE Fund 2 tendered all of its shares in acceptance of DeClout’s mandatory cash offer for Procurri.
It resigned its nominated director “to facilitate appropriate shareholder representation and governance for the company”.
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