Stocks to watch: OCBC, Sats, Kimly
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Aug 20):
On Thursday, OCBC announced pricing for £1 billion in floating rate covered bonds due in 2029. These bonds will accrue interest based on the compounded daily Sterling Overnight Index Average rate, with an additional 0.48 percent per annum. The bonds are set to be issued on August 26 and will be listed on the Singapore Exchange (SGX) on August 27. OCBC's shares closed at S$30.94 on Wednesday, a slight decline of S$0.01 or 0.03 percent.
Sats reported a S$75.1 million net profit for the first quarter, reflecting a 6 percent increase from the previous year's S$70.9 million. The rise in net profit can be attributed, in part, to lower interest expenses. Sats' shares concluded 0.2 percent higher at S$4.77 before the earnings were revealed.
Timah Partners secured a S$60 million debt facility for Japan Home, with a group of investors including UOB and RHB. The deal will help Japan Home manage its financial obligations. Meanwhile, Japan Home is closing selected outlets, with retail staff reporting that Valu$ is taking over operational responsibilities. In a related development, Marina Bay Sands' continuous success is putting pressure on its competitor, Resorts World Sentosa.
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.
