THE following companies saw new developments that may affect trading of their securities on Friday (Jan 12):
Keppel: Keppel and Pan-United Corporation on Thursday (Jan 11) inked a memorandum of understanding (MOU) with industry leaders to jointly develop and commercialise low-carbon technologies.
The industry leaders are Chevron Singapore, Surbana Jurong, Air Liquide Singapore, Osaka Gas Singapore and Pavilion Energy. Together with Keppel and Pan-United, they make up the Low-Carbon Technology Industry Consortium (LCT-IC).
Ho Bee Land: REAL estate group Ho Bee Land expects its net losses for the full year ended Dec 31, 2023 to widen from its current net-loss position for the six months ended Jun 30, 2023, it said in a bourse filing on Thursday (Jan 11).
The group is attributing the projected increase in net losses mainly to fair-value loss based on indicative valuations of its portfolio of investment properties in London. It noted that its London portfolio’s fair-value loss is non-cash in nature, and arose mainly due to higher capitalisation rates.
Metro: Department store operator Metro has acquired an additional 6 per cent equity stake in China property developer Top Spring International for HK$93.2 million (S$15.9 million).
Crown Investments, an indirect wholly owned subsidiary of Metro, entered into a sale-and-purchase agreement with Chance Again, a substantial shareholder of the Hong Kong-listed Top Spring, to purchase 84.8 million shares – 6 per cent of the total number of issued shares – from Top Spring, the group said in a bourse filing on Thursday (Jan 11).
Top Spring is a real estate property developer in China specialising in the development and operation of urban mixed-use communities, as well as the development and sale of residential properties.
Pegasus Asia: The last day of trading for warrants of Pegasus Asia is on Jan 12, with its warrants set to expire on Jan 20.
Trading in the warrants will be suspended with effect from 9 am on Jan 15, said Pegasus Asia in a bourse filing on Thursday (Jan 11).
Pegasus Asia was one of three special purpose acquisition companies (Spacs) to list on the Singapore Exchange (SGX) in January 2022, alongside Novo Tellus Alpha Acquisition (NTAA) and Vertex Technology Acquisition Corporation.
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