THE following companies saw new developments that may affect trading of their securities on Wednesday (Sep 27):
Boustead Singapore: SINGAPORE Exchange Regulation (SGX RegCo) has issued a directive on Tuesday (Sep 26) for the delisting of Boustead Projects, as the issuer has not ensured that at least 10 per cent of the total number of issued shares are held by the public.
In its notice of compliance, the frontline regulator also directed Boustead Projects and/or Boustead Singapore to make an exit offer to the shareholders that is “fair and reasonable”, with the proposal to be provided within one month from Tuesday.
Boustead Singapore in February announced a voluntary unconditional general offer to privatise its real estate unit, Boustead Projects.
The initial offer price was S$0.90 per share, and this was subsequently raised to S$0.95 per share on Feb 22.
DBS: DBS’ PayNow service appears to be experiencing delays on Tuesday (Sep 26), the latest in a spate of incidents to disrupt the lender’s digital banking services.
In its Digibank app, DBS said that customers experiencing delays in their Fast or PayNow transactions should not repeat their transactions. At least two posts on X showed that users were facing issues transferring funds from about 3 pm.
In a Facebook post, DBS said the issue was rectified at 4.30 pm.
“We would like to assure customers that their delayed transactions will be processed by today,” the bank said.
This is the fourth incident that the bank has faced in less than two years. In May this year, the Monetary Authority of Singapore imposed additional capital requirement on DBS after its digital banking services suffered a third outage on May 5.
OCBC: OCBC will discontinue the OCBC Pay Anyone app in October to provide an improved app experience, it said.
The Pay Anyone app was an avenue for OCBC customers to send funds to or receive funds from anyone with a PayNow account. Customers could also withdraw cash at OCBC ATMs without needing a card via the app.
All popular functions on the app have been consolidated on the OCBC Digital app, which is the bank’s mobile app for digital banking services, OCBC said on its website. These include local and overseas payments, transfers to contacts and cardless cash withdrawal from OCBC ATMs.
H2G Green: H2G Green said its chief executive officer has been arrested for an offence under the Employment of Foreign Manpower Act, and has surrendered his passport to the Ministry of Manpower (MOM).
In a bourse filing on Tuesday (Sep 26), the Catalist-listed company said Lim Shao-Lin, who is out on bail, has not been formally charged or convicted in court. He has been requested to attend court on Oct 5.
Lim was arrested for an offence under section 22(1)(d) of the Act, which relates to offences where a person makes any statement or provides any information, which the person knows, or ought reasonably to know, is false or misleading.