Asia stocks were set for a mixed start as traders awaited data from China for the latest information on the strength of the recovery in the region’s largest economy. U.S. shares earlier slipped on low volumes and the dollar fell.
Equity futures edged lower in Tokyo and Australia, while Hong Kong contracts rose. S&P 500 e-mini futures were steady after the index declined 0.5% on Tuesday with more than two stocks falling for every one that advanced. Talks on expanding aid ended for the day with plans to resume discussions Wednesday. Oil fell toward $39 a barrel in New York. Treasuries were little changed. China markets will shut from Thursday for a week of national holidays.
Unitholders of CapitaLand Mall Trust (CMT) and CapitaLand Commercial Trust (CCT) on Tuesday voted "resoundingly" in favour of the proposed merger of CMT and CCT to form a new real estate investment trust (Reit), though CCT unitholders had lower percentage approvals than CMT unitholders. In a joint statement, the managers said more than 3,000 unitholders voted by proxy at CMT's extraordinary general meeting (EGM) and CCT's EGM and trust scheme meeting held via electronic means. All five resolutions at the three meetings were duly passed and well supported.
Keppel Corporation has identified assets valued at S$17.5 billion that can be "monetised over time and channelled towards growth initiatives". It will seek to unlock value for S$3 billion to S$5 billion worth of these assets over the next three years. Speaking at a media and analyst briefing to reaffirm the company's Vision 2030 roadmap, Keppel CEO Loh Chin Hua said these assets include landbank, non-core assets such as oil rigs, and funds. Their values are based on the group's balance sheet as at end-June.
DBS on Tuesday announced that it will redeem all of its S$800 million outstanding preference shares on Nov 23. The redemption price will be an amount equal to the liquidation preference of S$100 per preference share, together with any accrued but unpaid dividends - whether or not declared - to (but excluding) the redemption date, said the lender in a regulatory filing. The preference shares have a fixed dividend rate of 4.7 per cent per annum.
The executive committee of Thai Beverage Public Co (ThaiBev) has approved the appointment of five senior management staff and two senior vice-presidents to help the company realise its growth objectives, the mainboard-listed beer and liquor maker said in a bourse filing late on Monday. ThaiBev said the appointments, which will take effect on Oct 1, will "strengthen our strategic focus in growth, diversity, brands, reach and professionalism".
Alternative arrangements for meetings - such as companies' virtual annual general meetings (AGMs) - can now continue till June 30 next year. Real-time electronic voting is also now allowed for some types of meetings, including the general meetings of companies, business trusts and variable capital companies, as well as insolvency-related meetings. These are among the amendments made to the Covid-19 (Temporary Measures) (Alternative Arrangements for Meetings) Orders that came into force on Tuesday, said Singapore's Ministry of Law (MinLaw) in a press statement.
Source: SGX Masnet, The Business Times, Bloomberg, Channel NewsAsia, Reuters, PSR
Created by traderhub8 | Jun 12, 2024
Created by traderhub8 | Jun 03, 2024