SPH, DeClout, Duty Free, Top Glove, SB REIT, TEE Int’l

SINGAPORE (Oct 13): Here are some factors and stocks that could move the market this Thursday morning:

Singapore Press Holdings, Southeast Asia’s biggest newspaper publisher by market value, plans to merge two of its tabloids to form a new free-distribution publication as part of a restructuring effort, Bloomberg reported. The publisher is planning to merge The New Paper and My Paper and the company also plans to cut 5% to 10% of its workforce, mostly part-time workers. SPH closed 4 cents lower at $3.74.

DeClout is selling its entire stake in its 72.09%-owned IT communications and services subsidiary, Acclivis, to China’s CITIC Telecom International Holdings for $75 million. When approved by shareholders, the deal will generate gross proceeds of $45.6 million and a net gain of $27.9 million for DeClout. DeClout halted trading of it shares pending this announcement. It last traded at 21.5 cents.

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• Tee International receives public reprimand from SGX for failure to disclose claims against subsidiary
• Tee International receives delisting notification from SGX RegCo
• Top Glove remains in the red, with narrower losses of RM57.7 mil for 1QFY202

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