SINGAPORE - The following companies saw new developments that may affect trading of their shares on Tuesday :
MindChamps Preschool: Its shares sank by as much as 24.8 per cent to 38 cents on Monday afternoon, prompting a query from the Singapore Exchange . The counter recouped most of its losses, closing at 48.5 cents on Monday, two cents or 4 per cent lower, and below its 52-week low of 49 cents.
In its most recent news, MindChamps announced on Dec 2 that it is divesting its centre at Changi Business Park for $1.03 million in cash, to franchisee Yirong Education to operate. Following the completion of the transaction, MindChamps PreSchool @ Changi Business Park is expected to continue operations at the centre under the franchise agreement, in which Yirong Education will pay royalties to MindChamps.
Stamford Tyres: It on Monday evening warned of a net loss for the second quarter and half year ended Oct 31, 2019, based on a preliminary review of its draft unaudited financial results. The losses were mainly due to lower revenue arising from increased competition and oversupply in the tyre market, as well as a one-time expense relating to the closure of a loss-making operation in Australia. Shares in Stamford Tyres ended trading on Monday at 21.5 cents, down 4.44 per cent or one cent.
Mapletree Logistics Trust : The manager of the trust said its chief financial officer Ivan Lim Ming Rean has resigned and will step down on Dec 31, 2019. The manager said it has found a suitable replacement and will make a further announcement once regulatory clearances are complete. Units of MLT closed at $1.72 on Monday, down two cents, or 1.2 per cent.
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