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Singapore Shares Close Higher; Kim Heng Shares Surge 14% as Shareholder Evaluates Divestment Options

MT Newswires ·  {{timeTz}}

05:54 AM EDT, 06/01/2022 (MT Newswires) -- Singapore's Straits Times Index continued to trade in the positive territory on Wednesday, even as Wall Street stocks fell overnight and inflation worries continued to trouble investors.

During the day, the benchmark index ranged between 3,237.31 and 3,253.15 and ended 0.36%, or 11.51 points, higher at 3,244.00.

In corporate news, Kim Heng's (SGX:5G2) shares surged 14% on Wednesday's close, following news that the company's shareholder Credence Capital Fund II (Cayman) is in the process of evaluating divestment options relating to its shareholding in the company.

Aircraft maintenance company SIA Engineering (SGX:S59) completed the acquisition of a 75% stake in SR Technics Malaysia on Tuesday, sending the aircraft maintenance company's shares up 1% at market close.

IHH Healthcare (SGX:Q0F, KLSE:IHH) closed 1% lower on Wednesday, as it issued 80,000 new shares upon the exercise of options under the company's 2015 enterprise option scheme grant.

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