These are Singapore companies which may be in focus on Wednesday, 9 October 2019: Comfort DelGro, SBS Transit, Hi-P International, Fraser & Neave and Sembcorp Industries.
ComfortDelGro and SBS Transit
Bus and train fares in Singapore will go up by an average of 7 percent from Dec. 28, the maximum increase allowed under the formula used by the city-state to calculate fares, the Public Transport Council said on Tuesday.
The beneficiaries of the increase include ComfortDelGro and its local unit SBS Transit, which operates several subway lines and the majority of bus services in Singapore.
The council said the fare increase took into consideration the rise in energy prices, wages and other macroeconomic factors.
Hi-P International has entered a deal to acquire Singapore-based plastics manufacturer SEAMCO for US$31 million, the contract manufacturer said in a filing to SGX Tuesday.
Fraser & Neave
Singapore food and beverages giant Fraser & Neave said Malaysian subsidiary Fraser & Neave Holdings Bhd (F&NHB) has agreed to buy 4,454 hectares of leasehold land in Chuping, Perlis from MSM Malaysia Holdings for 156 million ringgit.
F&NHB plans to explore producing fresh milk to support its existing downstream production and distribution of fresh milk products. The move will enable F&NHB to be less dependent on imported milk, while promoting the local agricultural industry in line with Malaysia’s ambition to become more self-sufficient.
Singapore-listed F&N has a 55.6 percent interest in Malaysia-listed F&NHB which has eight manufacturing facilities in Malaysia and Thailand producing dairy products, beverages and bottled water.
Sembcorp Industries and the Energy Market Authority said Tuesday they have provided a grant to Nanyang Technological University to develop Singapore’s first virtual power plant (VPP).