[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Sep 19):
ComfortDelGro : The transport giant announced on Thursday that commuters heading to Johor Bahru will be able to book a cross-border ride from any location in Singapore through ComfortDelGro’s hotline from Sep 25. This initiative will ensure that its 90 cabbies with a valid cross-border taxi licence will be available for this service. Most trips will be at a fixed cost of S$80. The drop-off point will be Larkin Sentral Terminal in Johor Bahru, designated for Singapore taxis. Shares of ComfortDelGro closed flat at S$1.50 before the news.
Hongkong Land : The real estate group said on Thursday that it will sell its Singapore and Malaysian property arm MCL Land to Malaysia’s Sunway Group in a S$738.7 million cash deal. Hongkong Land chief executive officer Michael Smith said that most of the proceeds will go into funding future endeavours, such as the growth of its ultra-premium integrated commercial projects in Hong Kong, Shanghai, Singapore and other Asian gateway cities. The deal brings the total capital recycled by the Jardine Matheson-owned company since 2024 to US$2 billion, hitting half the company’s target of at least US$4 billion by end-2027. The sale is effectively at net asset value as well, he noted. The counter closed down 1.6 per cent or US$0.11 at US$6.65 on Thursday.
