Singapore Stocks to Watch: Singtel, ValueMax
THE following companies saw new developments that may affect trading of their securities on Friday (Nov 17):
$Singtel(Z74.SI)$: SINGTEL said the upgrading of Singtel Internet Exchange, STiX, was not the root cause of the Optus network outage on Nov 8.
STiX is Singtel’s Internet peering exchange, acting as an infrastructure “shortcut” that helps move vast amounts of data across the world.
“We are aware that Optus experienced a network outage after the upgrade when a significant increase in addresses being propagated through their network triggered preset fail-safes.
“However, the upgrade was not the root cause,” the largest telecommunications operator in Singapore said on Thursday (Nov 16), noting that STiX is one of Optus’ international networks connecting to the global Internet.
$ValueMax(T6I.SI)$: WELL Chip, a company set up to own shares in ValueMax Group’s Malaysian associated companies, has applied for a listing on the main market of Bursa Malaysia.
On Thursday (Nov 16), Well Chip applied to the Securities Commission Malaysia (SC) to register its listing prospectus, ValueMax disclosed in a bourse filing.
Well Chip also applied to the Ministry of Investment, Trade and Industry to allocate 75 million of its new ordinary shares to selected approved investors. It made a separate application to the Equity Compliance Unit of the SC for the listing.
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