THE following companies saw new developments that may affect trading of their securities on Monday (Nov 4):
Genting Singapore: Resorts World Sentosa (RWS) chief casino operator Andrew MacDonald stepped down on Friday, Genting Singapore, the owner of RWS, said on Saturday. This comes after MacDonald, a former Marina Bay Sands (MBS) employee, said in August that he was banned from MBS premises for allegedly poaching high-rollers. Shares of Genting Singapore ended trading on Friday up 1.2 per cent or S$0.01 at S$0.845, before the update.
City Developments Ltd (CDL): CDL subsidiary Chenghong Shanghai acquired a 51 per cent stake in a Shanghai mixed-use site for 4.6 billion yuan (S$853.7 million) under a joint venture with China partner Lianfa Group, which holds the rest. This will raise the company ’s pro-forma net gearing by 3.3 per cent to 72.5 per cent, the property player said on Friday. As Shanghai’s residential sales have been strong, the company said it is confident in the demand for the project’s residential units. CDL shares rose 0.4 per cent or S$0.02 to S$5.22 on Friday, before the deal was announced.
