THE following companies saw new developments that may affect trading of their securities on Friday (Nov 18):
Sembcorp: SEMBCORP Industries is buying a stake in a renewable energy company in China.
This will enable the Singapore-listed energy and urban solutions provider to enter into a partnership with the world’s largest renewables player.
Sembcorp announced on Thursday (Nov 17) that wholly-owned subsidiary Sembcorp Energy (Shanghai) is acquiring a 45.3 per cent interest in Hunan Xingling New Energy for 1.1 billion yuan (S$204 million) from Wuling Power.
Wuling Power is an affiliated company of Chinese state-owned enterprise State Power Investment Corporation (SPIC).
VCPlus: CATALIST-LISTED fintech company VCPlus announced on Friday (Nov 18) that its subsidiary, Custody Plus, has received in-principle approval from the Monetary Authority of Singapore (MAS) for a Capital Markets Services (CMS) licence.
Once granted, the CMS licence will allow Custody Plus to provide custodial services for capital market products, including tokenised securities.
VCPlus began diversifying away from its gold mining business after obtaining shareholder approval in April 2021.
Since disposing of its only mining asset in May 2022, the company’s sole business comprises the provision of custodial and consultancy services in the financial and blockchain technology sector.
The group said the in-principle approval marks a “strategic milestone” as it will provide customers additional assurance to custodise their digital assets with VCPlus.