THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 29):
Singapore Telecommunications(Singtel): Its technology services arm NCS has acquired Melbourne-based digital services company ARQ Group for A$290 million (S$296.8 million).
ARQ is a Melbourne-based digital consultancy group specializing in mobile applications, cloud and data analytics. The acquisition will be NCS’s fourth in Australia in the past 15 months. NCS had previously acquired IT company The Dialog Group and cloud consultancy Riley, and made a majority investment in cloud transformation specialist Eighty20 Solutions.
ComfortDelGro: ComfortDelGro announced that it will increase its fares on all its taxis temporarily. The proposed one-cent increase will affect distance and waiting time fares. The flagdown fare will remain unchanged, says ComfortDelGro.
Based on the proposed revision, fares will increase by about 32 cents for a travelled distance of 10km. Assuming an average of 10 to 12 trips a day, cabbies’ earnings are expected to improve by between $3.20 and $3.84 daily.
This will help to cushion the impact of the recent surge in fuel prices, which has increased their daily fuel costs by between $3.55 and $13.50 in the last month alone.
BBR Holdings: BBR Holdings said in a bourse filing late on Monday (Mar 28) that its wholly-owned subsidiary Singapore Engineering & Construction has registered a joint venture partnership with Sinohydro Corporation.
Both companies each hold a 50 per cent stake in the joint venture called Sinohydro-Singapore Engineering & Construction, which will take on the design and construction of the Pasir Ris East train station, under the first phase of the construction of the new Cross Island Line.
Yangzijiang Shipbuilding: Yangzijiang Shipbuilding hit a 6-month high on Monday, after the shipbuilder announced it had increased the share capital of Yangzijiang Financial Holding (YZJFH) - the investment unit it is proposing to spin off.
On Friday, Yangzijiang announced it increased the share capital of Yangzijiang Financial Holding, resulting in an estimated initial net tangible asset of about S$4.3 billion with about 4 billion shares.
All Yangzijiang Shipbuilding shareholders will be entitled to a dividend-in-specie on a one-to-one basis, the group added. This means Yangzijiang shareholders will receive 1 share for every Yangzijiang share they hold upon the former’s successful listing.