Stocks to watch: UOB, Singtel, UMS Integration, Koh Brothers Eco Engineering
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Wednesday (Aug 19):
UOB announced on Wednesday that it has priced £1 billion floating rate covered bonds with a maturity of February 2030. The bonds will be issued on Aug 25 and will carry interest at the compounded daily Sterling Overnight Index Average rate, plus 0.49 percent per annum. These bonds are part of UOB's US$15 billion global covered bond programme. UOB's shares closed 0.6 percent lower on Tuesday at S$40.88.
S&P Global Ratings upgraded Singtel to "A+/A-1" from "A/A-1", attributing the upgrade to the telco's improved balance sheet and robust financial flexibility due to its aggressive asset recycling programme. The credit ratings agency also raised its issue rating on Singtel's senior unsecured notes to "A+" from "A", and on its guaranteed subordinated perpetual securities to "BBB+" from "BBB". Singtel's shares fell 0.5 percent on Tuesday to S$4.44.
Koh Brothers Eco Engineering faces potential legal liabilities amounting to up to S$57.6 million. The company is currently undergoing due diligence as part of a billion-dollar bid in Manila to boost its struggling electric vehicle (EV) industry.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
