Stocks to watch: SGX, Singtel, StarHub, Keppel, TEE Land, Grand Venture, Kitchen Culture, Stocks


Fri, Jan 10, 2020 – 9:18 AM

THE following companies saw new developments that may affect trading of their shares on Friday:

Singapore Exchange (SGX): In a move broadly welcomed by the market, the Singapore Exchange Regulation (SGX RegCo) announced on Thursday that quarterly reporting is no longer required for listed companies, unless they are associated with higher risks. SGX shares closed at S$8.80 on Thursday, up 2.6 per cent, or S$0.22. 


Singtel, StarHub, Keppel Corp: The telecom regulator has pushed back its industry deadline for 5G licence bids, citing “requests from the mobile network operators for more time to submit proposals”. Would-be bidders now have until Feb 17 to make their pitches, the Infocomm Media Development Authority said on Thursday, in an update to the initial Jan 21 deadline. Singtel shares closed down S$0.03 or 0.9 per cent to S$3.36 on Thursday before the news, while StarHub added S$0.01 or 0.7 per cent to S$1.47. M1 was privatised last year and is now a subsidiary of Keppel, which ended flat at S$6.84.


TEE Land: Despite a rise in gross profit, the mainboard-listed developer saw its net loss attributable to owners widen to S$6.97 million for the second quarter ended Nov 30, from a restated loss of S$2.04 million for the year-ago period. Revenue shrank 24.8 per cent to S$16.3 million, while loss per share was 1.56 Singapore cents, compared with 0.46 cent for the year-ago period. TEE Land shares closed up 0.5 Singapore cent or 3.1 per cent at 16.9 Singapore cents on Thursday. The company also requested a trading halt on Thusday afternoon, before its results release. 


Grand Venture Technology, Kitchen Culture: Catalist-listed Grand Venture Tech and Kitchen Culture separately announced management changes on Thursday night. In a regulatory filing, manufacturing service provider Grand Venture said its chief financial officer Wang Leon Kai, 49, has resigned to “pursue other career opportunities”. Meanwhile, Kitchen Culture announced that Quek Wey Lon, 53, has been appointed as the group’s chief operating officer, effective Jan 10. Grand Venture shares closed unchanged at 27 Singapore cents on Thursday, while shares in Kitchen Culture were flat at 8.1 Singapore cents. 


Mercurius Capital Investment: Catalist-listed Mercurius on Thursday night announced the completion of a joint venture that will help it to retain its listing status, and requested the lifting of an earlier-called trading halt. Mercurius shares last traded at 4.8 Singapore cents before the Jan 8 trading halt.


SunMoon Food Company: Fruits distributor SunMoon has entered into a settlement agreement with a supplier, Wismettac Foods, for the US$1.2 million owed by its wholly-owned subsidiary SunMoon Distribution & Trading. SunMoon shares ended at 5.1 Singapore cents on Thursday, up 0.2 Singapore cent or 4.1 per cent before the announcement.


Alliance Healthcare: A subsidiary of Alliance Healthcare is collaborating with Inova Care to explore healthcare benefit administration opportunities in South-east Asia, it said in a bourse filing on Thursday. Shares of Catalist-listed Alliance Healthcare closed unchanged at 17.5 Singapore cents on Thursday before the announcement.


IPS Securex Holdings: IPS Securex on Thursday said its existing client – an unnamed government agency in South-east Asia – has exercised an option relating to a S$19.1 million contract secured last January. The total price of the option is S$8.4 million, and will see the group’s wholly-owned subsidiary supplying, delivering, installing, commissioning and testing certain integrated security solutions, and providing maintenance support services. The counter closed at four Singapore cents on Thursday, down 0.4 Singapore cent or 9.1 per cent.

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