SG stocks Tuesday: ComfortDelGro, Geo Energy, GEAR, Yoma, China Everbright Water, Maxi-Cash, mm2

ComfortDelGro taxi in SingaporeComfortDelGro taxi in Singapore

Singapore companies in focus on Tuesday, 4 January 2022:

  • Executive Moves: ComfortDelGro’s Taxi CEO Ang Wei Neng has resigned
  • Geo Energy: Indonesia bans coal exports for January
  • GEAR: Indonesia coal export ban won’t affect production quota

Others: Yoma Strategic Holdings, China Everbright Water, Maxi-Cash Financial Services, Metech International, mm2 Asia, Raffles Education and No Signboard Holdings.


ComfortDelGro‘s CEO of ComfortDelGro Taxi Ang Wei Neng, age 54, has resigned to pursue another career path, effective 1 April, the land transport company said in a filing to SGX Monday.

Read more: Executive Moves: ComfortDelGro’s Taxi CEO Ang Wei Neng has resigned

Golden Energy and Resources (GEAR)

Golden Energy and Resources (GEAR) said Monday Indonesia’s ban on exports of coal for the month of January won’t affect its production quota and production plans for 2022.

Read more: GEAR: Indonesia coal export ban won’t affect production quota

Geo Energy

Geo Energy Resources said Monday Indonesia’s Ministry of Energy and Mineral Resources (ESDM) notified the company on 31 December it would temporarily ban coal export sales for the month of January.

Read more: Geo Energy: Indonesia bans coal exports for January

Yoma Strategic Holdings

Yoma Strategic Holdings clarified Monday that it remained in talks with Telenor regarding Wave Money and that no transaction has been finalised. That followed a Nikkei Asia report Monday that Telenor had agreed to sell its stake to a consortium led by Yoma.

In its fiscal year results released in November, Yoma noted it had previously agreed to acquire Telenor’s 51 percent stake in Wave Money in the context of Ant Group’s investment, but it remained in discussion with the telco over Wave Money’s strategy and structure. Yoma holds around 44 percent of Wave Money, according to its annual report published in February 2021.

China Everbright Water

China Everbright Water said Monday it entered into a concession agreement with Ji’nan Municipal Bureau of Urban and Rural Water Resources and China Construction Eighth Engineering Division (Xiamen) Construction for the Ji’nan International Centre for Medical Sciences Waste Water Treatment Plant (Phase I) Build-Operate-Transfer Project.

The aggregate investment amount for the project will be around 319.52 million yuan, China Everbright Water said in a filing to SGX.

Read China Everbright Water’s filing to SGX.

Maxi-Cash Financial Services

Maxi-Cash Financial Services said Monday it was offering the holders of its 6.35 percent notes due 2022 the option to either sell for cash up to S$10 million of the notes to the company or to exchange the notes for a like-principal amount of 6.05 percent notes due 2025 which will be issued under its S$300 million multicurrency medium-term note program.

The existing notes, which have an outstanding principal amount of S$50 million, are due to mature on 22 July, the pawnshop operator said in a filing to SGX.

Read Maxi-Cash’s filing to SGX.

Metech International

Metech International said Monday its lab-grown diamond joint venture Asian Eco Technology has entered a tripartite strategic collaboration with TEINYO and Yuhang Technology to establish a joint laboratory in Shenzhen for the research and development of new materials.

“We aim to revolutionise commercial and research applications of diamond by creating new materials with lab-grown diamonds and making them more affordable and easily available for wider adoption for the next generation of industrial applications within the semiconductors, aerospace, electric vehicles, medical equipment field, among others,” Samantha Hua, deputy CEO and executive director of Metech, said in a filing to SGX.

Read Metech’s filing to SGX.

mm2 Asia

Mm2 Asia said Monday that its proposed sale of its cinema business to Kingsmead Properties has expired and Kingmead has elected to exchange its S$6 million deposit for new shares of mm2 Asia at 8 Singapore cents a share.

“The Omicron effect on investing sentiments was sharp and unexpected. However, mm2 remains optimistic of the recovery of the cinema business as signs are indicating a trend towards recovery. And we definitely will still welcome any new proposal from Kingsmead in the future,” Melvin Ang, mm2’s founder and executive chairman, said in the statement filed to SGX.

Read mm2 Asia’s filing to SGX.

Raffles Education

Raffles Education said Monday it paid Affin Bank on 27 December all the outstanding amounts required under the terms of its settlement, and it is in discussions with the bank on the terms for repaying the balance of outstanding debts owed after 31 March.

No Signboard Holdings

Iconic chilli crab restauranteur No Signboard Holdings said Monday the long-stop date for its proposed placement of 77.78 million new shares at S$0.045 each to investor Henry Chandra Tjiang to raise S$3.5 million has been extended to 31 January.

Read more: No Signboard proposes placement to raise S$3.5M

Raffles Infrastructure, OUE Lippo Healthcare, Beng Kuang Marine and others

Singapore companies announcing executive changes: Raffles Infrastructure Holdings, OUE Lippo Healthcare, Beng Kuang Marine, Dragon Group International and Avarga Ltd.

Read more: Executive moves: Raffles Infrastructure, OUE Lippo Healthcare, Beng Kuang Marine, Avarga, Dragon Group

Sasseur REIT, Challenger, Trans-China Automotive and ASTI

Singapore substantial shareholder changes: Sasseur REIT, Challenger Technologies, Trans-China Automotive Holdings and ASTI Holdings.

Read more: Stake changes: Sasseur REIT, Challenger Technologies, Trans-China Automotive, ASTI


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