THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 4).
Yangzijiang Shipbuilding: Claims amounting to about US$832.2 million against three of Yangzijiang Shipbuilding’s units over alleged contractual breaches have been dismissed by arbitration tribunal in London. The amount comprises the loss of bargain and profits not upheld, according to an announcement by the company on Monday (Mar 3). The final decision on the claimants’ claim to a right to a refund of US$3.32 million deposit has yet to be determined.
iFast: The digital banking and investment platform appointed Vincent Tong as the chief executive officer of its Singapore business arm, iFast Financial, on Monday. He replaces Lim Chung Chun, who also holds the position of group CEO and chairman of iFast Corp. In a bourse filing on Monday, iFast said that Tong’s appointment has received regulatory approval. Shares of iFast closed Monday 0.9 per cent or S$0.08 down at S$8.52, before the announcement.
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