SG stocks Thursday: ComfortDelGro, DBS, SPH, JB Foods, No Signboard, EcoWise, Marco Polo

A ComfortDelGro taxi on Geylang Road in Singapore. Photo by Dave Kim on UnsplashA ComfortDelGro taxi on Geylang Road in Singapore. Photo by Dave Kim on Unsplash

Singapore companies in focus on Thursday, 17 March 2022:

  • ComfortDelGro taps SBS Transit CEO Cheng Siak Kian as deputy CEO
  • DBS taps Ginger Cheng for DBS China CEO
  • SPH: Outlook deteriorating since Russia invasion of Ukraine

Others: JB Foods, No Signboard, EcoWise Holdings, Marco Polo Marine and Seatech Solutions.

DBS

DBS Group said Wednesday it will be appointing Ginger Cheng, currently deputy CEO of DBS China, to the role of CEO of DBS China, effective 1 April. 

Read more: DBS taps Ginger Cheng for DBS China CEO

ComfortDelGro and SBS Transit

ComfortDelGro has appointed Cheng Siak Kian, age 52, who is currently CEO of its 74.43 percent-owned subsidiary SBS Transit, to the newly created position of deputy CEO, the land transport company said in a filing to SGX Wednesday. 

Read more: ComfortDelGro taps SBS Transit CEO Cheng Siak Kian as deputy CEO

SPH

SPH CEO Ng Yat Chung said the operating environment for the property company has deteriorated since Russia’s invasion of Ukraine in late-February, citing the volatile outlook as a reason for shareholders to accept Cuscaden Peak’s bid for the company. 

Read more: SPH: Outlook deteriorating since Russia invasion of Ukraine

JB Foods

JB Foods reported Wednesday the company expected Russian and Ukraine to contribute around 10 percent of the group’s revenue for 2022, down from 17 percent of 2021 revenue. 

Read more: JB Foods updates on Russia and Ukraine exposure

Marco Polo Marine and Seatech Solutions

Marco Polo Marine, together with green-tech ship-design company Seatech Solutions International (S), will co-develop two new specialised offshore wind service, operation and maintenance vessels, the Singapore-listed company said in a filing to SGX Wednesday. 

Read more: Marco Polo Marine and Seatech to co-develop vessels to support offshore wind farms

No Signboard

No Signboard Holdings has entered into a loan agreement with Q & M Dental Group (Singapore)‘s founder Ng Chin Siau for an interest-free unsecured loan of S$2.6 million, the troubled Singapore chilli crab restauranteur said in a filing to SGX Wednesday. 

Read more: No Signboard enters loan agreement with Q&M Dental founder

EcoWise Holdings

EcoWise Holdings has cited Wednesday a material uncertainty over whether the group can continue as a going concern, pointing to recent letters of reminder and demand from financial institutions requesting repayments. 

Read more: EcoWise cites material uncertainty on going concern

Briefs

Singapore company briefs: Ascendas REIT, CDL Hospitality Trusts, Broadway Industrial Group, ValueMax Group and QT Vascular.

Read more: SG briefs: Ascendas REIT, CDL Hospitality Trusts, Broadway Industrial, ValueMax, QT Vascular

Singapore company briefs: Manhattan Resources, British and Malayan Holdings, Ascent Bridge and AEI Corp. 

Read more: SG briefs: Manhattan Resources, British and Malayan Holdings, Ascent Bridge

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