SG stocks Monday: Singtel, SPH REIT, NutryFarm, APAC Realty, Stamford Land

The Paragon Mall at Singapore's Orchard Road shopping belt, shown with Longchamp and Gucci signage, is part of SPH REIT's portfolio. Photo taken in January 2022The Paragon Mall at Singapore's Orchard Road shopping belt, shown with Longchamp and Gucci signage, is part of SPH REIT's portfolio. Photo taken in January 2022

Singapore companies in focus on Monday, 30 May 2022:

  • Singtel rebuffs report of Bharti stake sale
  • SPH REIT unitholders advised to accept Cuscaden Peak offer
  • NutryFarm: Ex-CEO’s alleged durian deals may spur a legal stink

Others: OCBC, SMI Vantage, Stamford Land, Singtel and APAC Realty.

Singtel rebuffs report of Bharti stake sale

  • Singtel rebuffed media reports suggesting it was considering selling part of its stake in Bharti Airtel.

SPH REIT unitholders advised to accept Cuscaden Peak offer

  • The independent financial advisor (IFA) has advised SPH REIT unitholders to accept Cuscaden Peak’s offer for the REIT, according to the circular filed to SGX Friday.

Singtel reports fiscal year net profit more than tripled

  • Singtel reported Friday its net profit for the fiscal year jumped 252 percent on-year to S$1.95 billion on the divestment of its 70 percent stake in Australia Tower Network, compared with an exceptional loss in the previous year.

UPDATE: OCBC required to hold additional capital after phishing scam response

  • The Monetary Authority of Singapore (MAS) has imposed additional capital requirements on OCBC Bank after its spotty response to phishing scams in December.

APAC Realty shareholders advised against accepting offer

  • APAC Realty‘s shareholders were advised against accepting the S$0.57 a share mandatory general offer (MGO) for the company, according to the independent financial advisor (IFA) letter included in the circular filed to SGX Friday.

NutryFarm: Ex-CEO’s alleged durian deals may spur a legal stink

  • NutryFarm International is contemplating legal action against its former CEO Cheng Meng after receiving two settlement agreements alleging the company owes compensation of as much as CNY33.4 million, or S$6.8 million, for shortfalls in durian shipments, the durian supplier said in filings to SGX on Friday and Sunday.

Stamford Land reports fiscal year net profit nearly quadrupled

  • Stamford Land reported Friday its fiscal year net profit nearly quadrupled to S$31.87 million from S$8.25 million in the previous year.

SMI Vantage reports fiscal year net loss narrowed

  • SMI Vantage reported Friday its net loss for the fiscal year narrowed to US$4.21 million, from a year-earlier net loss of US$5.38 million, as borders remained largely closed to travel into Myanmar.

SPONSORED: Watches.com entering online watch business just as consumers re-open wallets

  • As the world begins to roll back pandemic restrictions, wallets are opening up — and watches are on consumers’ shopping lists.

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