Stocks to watch: Singtel, Sinarmas Land, Cordlife, Q&M Dental Group, PSC, Procurri Corp

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Jul 11):

Singtel: The local telecommunications giant’s technology services arm, NCS, will invest S$130 million over the next three years to further its artificial intelligence (AI) development across the Asia-Pacific region. Its investments include the development of an AI suite, six major technological partnerships and developing an AI-enabled workforce. NCS currently has over 1,000 professionals certified across major cloud platforms including AWS, Google, Microsoft and Nvidia. Shares in Singtel closed 1.3 per cent or S$0.05 higher at S$4.01 on Thursday, before the news.

Sinarmas Land: The property developer said on Friday that the offeror aiming to privatise it has exercised its right to compulsorily acquire all shares of shareholders who have not accepted the offer. Following this, the Widjaja family-controlled Lyon Investments will own all Sinarmas Land shares and will delist the company from the mainboard of the Singapore Exchange at a date and time to be announced. The counter has been suspended from trading since Jun 3, 2025, after the privatisation offer closed with Lyon Investments’ shareholding standing at a 98.65 per cent.

Cordlife: The private cord-blood bank said in bourse filing on Thursday that it will offer enhanced support to its customers who were affected by the November 2023 discovery of its damaged storage tanks. This includes a five-year extension to their cord-blood storage – until their children turn 26 years old – at no additional cost. The extension begins when the customer’s existing contract expires. Its shares closed at S$0.005 or 1.9 per cent lower at S$0.26, before the announcement.

Q&M Dental Group: The company on Thursday issued S$130 million worth of notes priced at 3.95 per cent under its S$500 million multicurrency debt issuance programme. The group said it has received in-principle approval from the Singapore Exchange Securities Trading for the listing and quotation of the notes, which are due in 2028 and will list on the bourse on Friday. The counter ended on Thursday unchanged at S$0.43. 

PSC Corporation: A mandatory offer by local tycoon Sam Goi has been made on Thursday to buy the remaining shares that he does not already own of fast-moving consumer goods wholesaler PSC at S$0.40 apiece. This comes after he spent S$25.2 million on 63 million shares to raise his stake to 43.38 per cent. The offer represents a premium of 7.8 per cent over the volume weighted average price of S$0.371 in the past one-month period, according to a bourse filing by UOB Kay Hian on his behalf. The counter fell S$0.01, or 2.4 per cent, to close at S$0.40, before the announcement.

Procurri Corp: The IT solutions provider on Thursday said it received in-principle approval from the Singapore Exchange for its proposed delisting. This comes as its parent company Exeo Global Asset Holdings on Apr 28 proposed to acquire all shares in its issued share capital at S$0.32 apiece. The counter finished on Thursday flat at S$0.31.