THE following companies saw new developments that may affect trading of their securities Tuesday (Oct 18):
Singapore Airlines: Singapore Airlines (SIA) Group reported a promising set of numbers for its September operating results, as the group saw continued momentum in travel recovery with demand remaining strong across all route regions except for East Asia where travel restrictions remained in place in some key markets.
SIA and Scoot, the two airlines in the group, carried a total of 2.1 million passengers in September, up 2.5% from the previous month. This came on the back of a marginal m-o-m decline of 0.8% in group passenger capacity, measured in available seat-kilometres, which was still up 111.8% y-o-y, reaching 67% of pre-Covid-19 levels for the month.
Sinarmas Land: International developer, owner and operator of hyperscale digital infrastructure K2 Data Centres (K2) and SGX-listed Indonesian property developer Sinarmas Land Limited (SML) have entered into a joint venture (JV) to own, develop and operate hyperscale data centres in Indonesia, as well as building Indonesia’s digital infrastructure talent and capabilities.
In a press release, the JV between K2 and SML is said to be a “mutual recognition” of the increasing long-term demand for data centre capacity tailored for core and hyperscale requirements in Jakarta.
Colex, Bonvests: Bonvests Holdings has proposed to acquire the remaining shares it does not own in Colex Holdings, with an offer of 23 cents per share in cash and an intention to delist the latter.
Catalist-listed Colex Holdings is the 78.94%-owned subsidiary of Bonvests Holdings.
According to the joint statement released by Bonvests and Colex, the offer comes as Colex faces an “increasingly challenging operating environment ahead”.
The challenges include increased competition in participation for the National Environment Agency’s (NEA) tenders for public waste collection (PWC) licences for domestic and trade premises in Singapore with the next tender cycle only commencing in 2025. According to both Bonvests and Colex, there is “no certainty” of the latter returning to profitability in the near-term.
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