THE following company saw new developments that may affect trading of its securities on Friday (Jan 19):
GuocoLand: A site in Singapore’s western suburbs fetched richer offers than a plot in the city-state’s downtown on Thursday, as interest rates put prime land outside of the reach of many developers and home purchase restrictions crimp the market for high-end housing.
A joint venture between Malaysia’s GuocoLand, its Singapore cousins at Hong Leong Holdings and Hong Leong’s TID Residential tie-up with Japan’s Mitsui Fudosan, made the sole bid for a mixed-use site in Singapore’s Marina South, offering the equivalent of S$984 per square foot for the site within a few minutes’ walk of the Gardens by the Bay landmark, according to tender results released by the Urban Redevelopment Authority.
Fuxing China Group: Fuxing China has announced the proposed subscription of 3,400,000 new ordinary shares in the company’s capital at an issue price of 25.3 cents per share, amounting to a total of $860,200.
On Jan 18, the company announced that it had entered into a subscription agreement with Chinese nationals Dong Yiqiang, Gong Haibin, Dong Qunzhu, Hong Huafeng and Kung Kin Mang.
Dong Yiqiang and Gong have each subscribed to 800,000 shares, representing 3.88% of the enlarged share capital of the company, while Dong Qunzhu, Hong and Kung have subscribed to 700,000, 600,000 and 500,000 shares, respectively.
Intraco: Intraco has launched its third issue under the SDAX Commercial Paper Facility Programme (the SGD CP Series 003) for a tenor of 47 days at an interest rate of 4.4% per annum on Jan 18.
The company says the issue raised $4.19 million from accredited investors, with the tokens to be listed on the SDAX Exchange on the same day.
Amongst the subscribers, $1.2 million was subscribed by associates of Intraco’s controlling shareholders and $200,000 was subscribed by the company’s executive chairman, amounting to approximately 33% of the SGD CP Series 003 Tokens.
Tee International: The Singapore Exchange Securities Trading (SGX-ST) Listings Disciplinary Committee has issued a public reprimand of Tee International and its former group CEO and managing director Phua Boon Kin Eric for breaching Mainboard rules on Jan 18.
The regulatory action was in response to a failure to disclose claims served on Tee International’s wholly-owned subsidiary, Trans Equatorial Engineering, in December 2020.
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