UPDATE: Singapore stocks Monday: SIA, SingPost, Darco Water, Raffles Education, Sim Leisure, Metech, Tung Lok, Keong Hong

Singapore Airlines plane on the ground at Singapore’s Changi Airport; taken November 2018.Singapore Airlines plane Changi Airport.

These are Singapore companies which may be in focus on Monday, 11 October 2021: Singapore Post (SingPost), Darco Water Technologies, Raffles Education, Sim Leisure Group, Metech International, Tung Lok Restaurants, Keong Hong Holdings, Sinjia Land, Guoan International, Astaka Holdings and Ayondo.

This item was originally published on Saturday, 9 October 2021 at 15:22 SGT; it has since been updated to include Singapore Airlines (SIA).

Singapore Airlines

Singapore Airlines expanded its Vaccinated Travel Lane (VTL) to 14 cities, with additional points expected to be added in coming weeks, the carrier said in a press release on its website Saturday.

Read more: Singapore Airlines expands Vaccinated Travel Lane to 14 cities

Singapore Post (SingPost)

Singapore Post will accelerate its deals to boost its stake in Australia’s Freight Management Holdings (FMH) to 51 percent from 28 percent, advancing the Singapore company’s plans to build a second home market in Australia.

Read more: SingPost accelerates plan to increase stake in Australia’s Freight Management to 51 percent

Darco Water Technologies

Darco Water Technologies said Friday the first settlement payment from Emsus Co. and Do Yun Yu for the reversal of the deal to acquire 75 percent of PT Panghegar Energy Indonesia came in both short and late, leading it to issue a letter of demand.

Read more: Darco Water: Issued letter of demand as Emsus misses first payment on deal reversal

Raffles Education

Raffles Education said Friday its independent auditor, BDO LLP, has cited the financial statements for the fiscal year ended 30 June for a material uncertainty over whether the company can continue as a going concern.

Read more: Raffles Education: Auditor cites material uncertainty related to going concern

Sim Leisure Group

Sim Leisure Group said Friday its extraordinary general meeting to vote on the proposed issuance of 17.72 million new shares to raise around S$3.63 million resulted in 92.12 million shares voting in favor of the resolution, which was 100 percent of the votes cast.

The subscribers to the new shares, Tan Boon Seng and Desamal Capital and their associates, abstained from voting their around 26.85 million shares as per Catalist rules, the filing said.

Read more: Theme park operator Sim Leisure to issue subscription shares to raise around S$3.6M

Metech International

Metech International’s joint venture Asian Eco Technology has entered a memorandum of understanding (MOU) to supply India-based Maitri Diamond with lab-grown diamonds, the Singapore-listed company said in a filing to SGX Friday.

Read more: Metech JV signs MOU to supply Maitri Diamond with lab-grown diamonds

Metech International

Wu Yongqiang has acquired 650,000 shares of Metech International in the market for S$162,500, boosting the direct interest to 13.01 percent from 12.36 percent previously, according to a filing to SGX late Friday.

Tung Lok Restaurants

Tung Lok Restaurants said Friday its indirect wholly owned subsidiary Tung Lock Signatures (2006) has accepted a new credit facility of S$1 million from UOB for general working capital purposes.

The company’s S$2.5 million credit facility, announced in March 2020, has since lapses with S$2.0 million not utilised, the restauranteur said in a filing to SGX.


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Keong Hong Holdings

LJHB Holdings (S) saw its interest in Keong Hong Holdings increase to 24.08 percent from 23.99 percent previously after the acquistiion of 199,000 shares in the market for S$68,655, according to a filing to SGX Friday.

The sole shareholder of LJHB Holdings (S), Liu Haiyan, also saw her deemed interest increase by the same amount, the filing said.

Sinjia Land

In response to a query from SGX, Sinjia Land said it wasn’t aware of any reason for its share price jump Friday; its shares ended Friday up 3.7 percent at S$0.028 after a spike in volume traded.

“The company regularly evaluates all opportunities across its portfolio with the objective of enhancing shareholder value, which may from time to time involve discussions with various parties and stakeholders. There is no assurance that any transaction will materialize or that any definitive or binding agreement will be reached,” the company said in its responses filed to SGX.

Guoan International

Guoan International said Friday it has filed an application with the Court of Appeal of the High Court of Hong Kong to seek to cite new evidence to support its appeal.

Earlier in the week, the company said it received an interim report on the investigations of irregularities in the acquisition of Yicko Group, including the failure to disclose one executive director’s role as a licensed representative of the target company.

Read Guoan International’s statement on the interim report.

Astaka Holdings

Astaka Holdings said Friday the group will resume Malaysian operations in full, starting 10 October, as Johor state transitions to Phase Three of the country’s National Recovery Plan. Around 86 percent of employees are fully vaccinated against Covid-19, and almost all have had at least the first dose, the company said in a filing to SGX.


Ayondo said Friday it has submitted an appeal to the notification of delisting from SGX. The company has not received any proposal or exit offer from any shareholder and it currently doesn’t ahve the cash resources to consider making an exit offer to its shareholders, the company said in a filing to SGX.


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