SINGAPORE (June 4): Here are some stocks that could move the market this Monday morning:
CapitaLand announced on Friday that Lim Ming Yan has given notice to retire as president & group CEO of CapitaLand Group. His last day of service will be Dec 31. Lim joined the Group in 1996 and would have served for more than 22 years, including six years as President & Group CEO from Jan 1 2013 to Dec 31. Shares in CapitaLand closed 1 cent higher at $3.51 on Friday.
Lim Ming Yan to step down as CapitaLand president & group CEO at end Dec
JEP announced that executive chairman Andy Luong has been appointed as acting CEO to “lead the company through its next phase of innovation to spur growth”. Luong, 58, is also the founder and CEO of another SGX-listed precision engineering firm, UMS Holdings. UMS is currently the largest shareholder in JEP, with a 28.06% stake in the company. In a separate filing on Friday, the group said it has appointed RHT Capital to act as its continuing sponsor, in place of Stamford Corporate Services, with effect from June 4. Shares of JEP fell 0.8 cents, or 4.1% lower, to close at 18.9 cents on Friday.
JEP appoints exec chairman Andy Luong as acting CEO amid management exodus
Singapore Myanmar Investco (SMI) and its 97%-owned subsidiary Myanmar Infrastructure Group have entered into an agreement for the proposed disposal of its entire interest in TPR Myanmar for US$10.8 million ($14.4 million) in cash. The proposed disposal to independent third party purchaser Tiger Infrastructure will comprise the SMI’s 99.9% stake in TPR Myanmar, as well as all tower stock and power equipment stock held by TPR in its warehouse and at the port. Shares of SMI closed 2 cents higher, or up 7.4%, at 29 cents on Friday.
Singapore Myanmar Investco to sell 99.9%-owned TPR Myanmar for $14.4 mil
Alliance Mineral Assets reported that former CEO Tjandra Adi Pramoko and wife Suen Sze Man are no longer substantial shareholders in the company. This comes after Living Waters Mining Australia on Friday sold 37 million Alliance Mineral shares in an off-market transaction for $12.58 million, thus reducing its stake from 5.87% to 0.02% or 104,574 shares. The average selling price per share works out to be 34 cents. Pramoko and Suen are deemed to be interested in the shares as the couple holds 100% of the shares in Living Waters. Shares in Alliance Mineral closed at 36 cents on Friday.
Pramoko and wife no longer substantial shareholders in Alliance Mineral Assets
Perennial Real Estate Holdings (PREH) announced that its Perennial International Health and Medical Hub (PIHMH) has officially opened in Chengdu, China. The first-of-its-kind one-stop medical, healthcare and retail integrated development adjacent to the Chengdu East high speed railway commenced operations today with over 90% committed occupancy. Shares in Perennial closed 0.5 cent higher at 86 cents.
Perennial International Health and Medical Hub officially opens in Chengdu
The three individuals accused of being the masterminds behind the October 2013 penny stock crash involving Blumont, LionGold and Asiasons Capital (now Attilan Group) will go to trial, the Singapore court decided on Friday. The three-day committal hearing saw 13 out of 67 witnesses cross-examined by defence lawyers. The three individuals are Malaysian businessmen John Soh Chee Wen, Quah Su-Ling, former CEO of IPCO International, and Goh Hin Calm, former interim CEO of IPCO.
2013 penny stock crash case to go to trial
Markets
The Dow Jones Industrial Average rose more than 200 points Friday to recoup most of its losses for the week following an upbeat unemployment report that showed a modest gain in wages. The Dow added 219.37 points, or 0.9%, to 24635.21. The S&P rose 29.35 points, or 1.1%, to 2734.62, while the Nasdaq added 112.22, or 1.5%, to 7554.33.
The STI on Friday fell 0.7 point or 0.02% to end the day at 3,427.5 with the losses led by banking stocks. Some 2.2 billion shares worth $1.38 billion changed hands versus Thursday's 2.7 billion shares worth $3.5 billion. Losers outnumbered gainers with 212 counters down and 195 counters up.
