[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jul 18):
OCBC, Singtel: The bank will partner the three local universities in research into developing quantum technology applications in derivative pricing, fraud detection and data security. On Thursday, it inked 12-month long collaboration agreements with the National University of Singapore, Singapore Management University and Nanyang Technological University. It is also working with Singtel and the Monetary Authority of Singapore to explore the application of quantum key distribution. Shares of OCBC finished Thursday S$0.12 or 0.7 per cent higher at S$17.08; shares of Singtel closed 3 per cent or S$0.12 higher at S$4.17.
Wilmar International: It has agreed to acquire up to 20 per cent of the shares held by India’s Adani Commodities in a joint venture (JV) between the two companies. This comes as Adani Commodities announced its exit from the JV in December 2024. For 275 rupees per share, Wilmar’s wholly owned unit Lence will buy a maximum of 259.9 million shares in the Mumbai-listed JV, AWL Agri Business, which was formerly known as Adani Wilmar. Wilmar shares on the Singapore bourse ended Thursday at S$2.99, up 0.7 per cent or S$0.02.
Food Empire: The group on Friday announced its partnership with Santan Food Services, a brand under an AirAsia unit, to co-develop and launch a range of ready-to-drink beverages. The tie-up will kick off with a Vietnamese iced coffee product, set to be sold on the low-cost carrier’s flights and through regional retail channels. It paves the way for Food Empire and Santan to explore further co-branded and private-label initiatives across more beverages and snack products, said Food Empire. The counter finished Thursday 5.5 per cent or S$0.11 higher at S$2.12.
Telechoice International: The telco services company will exit the Singapore Exchange (SGX) watch list on Friday. Its application to be removed from the list received SGX’s in-principle approval, it said in a Friday bourse filing. The company was placed on the watch list in December 2023, after four consecutive years of losses. The counter ended Thursday flat at S$0.15.
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