The following companies saw new developments that may affect trading of their securities on Wednesday (Sep 20):
UOB Kay Hian analyst Roy Chen is maintaining his “sell” call on Singapore Airlines (SIA) with a reduced target price of $6.44 from $6.82 previously, after the company released its operation data for the month of August.
OCBC will now offer cross-border global payments for its customers through Alipay+ on its digital app, making it the first bank in Singapore that enables this payment method. Alipay+ is a suite of global cross-border payments operated by Ant Group, an affiliate of Alibaba.
Analysts are keeping their “buy” recommendations on Singapore Telecommunications (Singtel) following the recent announcement of the group divesting a 20% stake in its regional data centre (RDC) business to global investment firm Kohlberg Kravis Roberts & Co (KKR) for $1.1 billion, further unlocking value from its assets as part of its strategic reset announced two years ago.
The team at DBS Group Research is keeping its “buy” call on ComfortDelGro (CDG) with an unchanged target price of $1.65 after the Public Transport Council announced that it will be increasing public transport fares by 7% on Sept 18.
Thai Beverage (ThaiBev) announced that it has entered into a five-year term loan agreement with Mizuho Bank, Singapore Branch and Sumitomo Mitsui Banking Corporation Singapore Branch for an amount of JPY 66 billion ($609.3 million) to repay existing debt due in Feb 2024.
UOB Kay Hian analyst John Cheong has maintained his “buy” call on UMS after its key customer, Applied Materials (AMAT), raised its earnings guidance by 10% for the coming quarter.
Thomson Medical Group announced that it has on Sept 19 received a letter from the Singapore Exchange (SGX) advising that is has no objection to granting the company a period of three months until Dec 10 to explore options to restore the public float and the continued trading of its shares during this period.