[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jun 12).
CapitaLand Investment (CLI): The manager of CapitaLand China Trust (CLCT), a CLI subsidiary, on Thursday proposed the establishment and listing of a publicly traded infrastructure securities investment fund, CapitaLand Commercial C-Reit on the Shanghai Stock Exchange. It has also announced that its wholly owned subsidiary has entered into a conditional agreement to sell 100 per cent of its interest in CapitaMalls Hunan Commmercial Property as part of its participation in the C-Reit listing. Shares of CLI closed 0.8 per cent or S$0.02 higher at S$2.61 on Wednesday.
TalkMed: The tertiary healthcare service provider on Thursday announced that the first court hearing for its proposed privatisation will take place at 2.30pm on Jun 17. This follows a joint announcement regarding the offer to acquire all shares in the company, which requires approval from a majority in number of shareholders representing at least 75 per cent of shares voted. Shares of TalkMed closed 1.1 per cent or S$0.005 lower at S$0.44 on Wednesday.
Aspen: The company has announced that it will be shutting its Kanada-Ya ramen chain as subsidiaries are unable to pay debts. The group announced that Kanada-Ya Singapore and Kanada-Ya Restaurants will be placed into creditors’ voluntary liquidation after ceasing all operations. The decision follows continued losses amid high operating cost, weak consumer demand and reduced support from the franchisor, the group said on Wednesday. Shares of Aspen closed 2.4 per cent or S$0.001 higher at S$0.042 on Wednesday, before the news.
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