SG briefs: Straits Trading, Courage Investment, Lion Asiapac

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Singapore company briefs: The Straits Trading Co., Courage Investment Group and Lion Asiapac. 

The Straits Trading Co. 

The Straits Trading Co. said Tuesday the 26 million new shares issued in a private placement at S$3.11 each would begin trading on SGX on Wednesday. 

The issuance boosted the number of shares to 432.82 million shares from 406.82 million previously, the filing said. 

Read more: Straits Trading shares tumble after announcing private placement to raise around S$81M

Courage Investment Group

Courage Investment Group guided Tuesday it expected to swing to a net profit for 2021 of at least US$10 million, from the year-earlier net loss of around US$3.5 million.

The turnaround is mainly due to the reversal of impairment loss on vessels of around US$13 million, compared with a year-earlier net impairment loss of around US$2.8 million, as well as higher profit contribution from the marine transportation operation to around US$4 million, compared with US$1.7 million a year earlier, the company said in a filing to SGX.

Courage Investment’s businesses are marine transportation, property holding and investment, investment holding and merchandise trading.

Read Courage Investment Group’s filing to SGX.

Lion Asiapac

Lion Asiapac warned Tuesday it expected to report a loss for its fiscal second quarter and first half ended 31 December due to increased production consumables costs and higher overhead costs.