Singapore Stocks to Watch: SingPost, ValueMax, GSH, Hong Leong Asia

Tiger Newspress2022-12-19

The following companies saw new developments that may affect the trading of their securities on Monday (Dec 19):

SingPost announced it would be raising postage, package and doorstep parcel delivery rates starting Jan 1, 2023. This is in line with the goods and services tax (GST) hikes announced by the government in February this year as well as “exceptional inflationary cost increases across manpower, fuel and electricity”, said the group on Friday (Dec 16).

ValueMax Group and GSH Corp on Friday (Dec 16) individually announced fund raises through the issue of digital securities to be listed on fintech platform ADDX. ValueMax raised S$45.14 million in gross proceeds from the issue of its three-month Series 005 commercial paper. Three family members of ValueMax executive chairman Yeah Hiang Nam had subscribed for 21.2 percent of the issuance.

Guangxi Yuchai Machinery Company Limited, the subsidiary of New York-listed China Yuchai, has been removed from the Unverified List by the US Department of Commerce. China Yuchai is, in turn, the subsidiary of Hong Leong Asia. Hong Leong Asia is the manufacturing and building materials holding company of the Kwek family.

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