SINGAPORE - The following companies saw new developments that may affect trading of their securities on Wednesday :
Frasers Property: Frasers Property has brought in a strategic capital partner for Northpoint City . TCC Prosperity has subscribed for 50 per cent of units of North Gem Trust, which owns the property. The transaction allows the Frasers Property group to recognise a gain of $50 million over the asset's last audited book value. The counter closed at $1.21 on Tuesday, down $0.02 or 1.6 per cent, before the announcement.
OCBC Bank, Great Eastern: OCBC may be facing the prospects of a digital banking licence in Malaysia, if a deal made by its insurance arm in late June is anything to go by. Great Eastern, among the largest insurers in Malaysia, has moved to invest U$70 million in Axiata Digital's financial services business. Shares of the bank dropped $0.03 or 0.3 per cent to close at $9.16 on Tuesday, while Great Eastern lost $0.19 or 1 per cent to $19.59.
GuocoLand: The property developer's group chief financial officer Lim Yoke Tuan has resigned after two years on the job, to"pursue other career opportunities", GuocoLand said on Tuesday after trading hours. GuocoLand shares finished at $1.46, down $0.03 or 2 per cent.
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Source: BusinessTimes - 🏆 15. / 51 Read more »