Cancellation

Raffles Education scraps $27.4 mil rights issue in view of recent market conditions, share price falls
SINGAPORE (Mar 6): Raffles Education Corp is cancelling its proposed 2-for-10 rights issue, which would have allowed the group to raise up to about $27.4 million in net proceeds after raising 275.9 million new shares at the issue price of 10 cents per share.   Citing “recent market conditions”, the group also notes that its current share price is currently below the 10-cent issue ...
Raffles Education cancels plans for $84 mil sale of unit's Australia property
SINGAPORE (June 6): Raffles Education Corporation (REC) will no longer be disposing of its unit’s property located at 1-3 Fitzwilliam Street, Parramatta, New South Wales, Australia, to Propertylink (Holdings) Limited (PHL). The six-storey commercial building – part of which was being leased out by REC’s wholly-owned subsidiary Raffles Assets Australia (RAAPL) to another subsidiary of the ...
SembMarine’s dividend downtrend is far from over
SINGAPORE (Oct 27): Sembcorp Marine’s disappointing 3Q16 results has led DBS to reiterate its “fully valued” rating with a lower target price of $1.15 from $1.20. In a Wednesday report, analyst Ho Pei Hwa notes that forecasts for FY16 earnings have been slashed 55%, with the interim dividend of 1.5 cents in 3Q16 raising concerns over the final dividend. “We now expect Sembcorp ...