THE following companies saw new developments that may affect trading of their securities on Friday (Jun 28):
OCBC, Great Eastern: The bank will take its insurance arm private only if the “conditions are acceptable and in the interests of OCBC and its shareholders”. Responding to queries from the Securities Investors Association (Singapore), or Sias, OCBC said Great Eastern’s listed status does “not affect” the close relationship between the bank and its subsidiary, given their synergistic relationship. Great Eastern shares closed S$0.01 or 0.04 per cent lower at S$25.64, while OCBC was up S$0.11 or 0.8 per cent at S$14.51 on Thursday, before the response to Sias was published.
Wing Tai: Its wholly owned subsidiary was awarded a 99-year leasehold residential site in River Valley at the tender price of about S$464 million, and plans to build more than 400 apartments there. Located at the junction of River Valley Green and River Valley Road, the site has a permissible gross floor area of 32,527 square metres. Shares of Wing Tai ended Thursday S$0.01 or 0.7 per cent higher at S$1.40, before the announcement was made.
