Stocks to watch: OCBC, CNMC Goldmine, mm2 Asia

Yong Jun Yuan

Published Wed, Jul 14, 2021 · 08:19 AM

THE following companies saw new developments that may affect trading of their securities on Wednesday:

OCBC O39 : Its private banking arm, Bank of Singapore (BOS), announced on Tuesday that it will offer a higher loan quantum to mutual funds with MSCI ESG ratings of AAA or AA as it introduces environmental, social and governance (ESG) factors to its investment financing assessment framework. BOS said that such a move is a first in Asia, and is in line with the bank's push for sustainable investing. Shares of OCBC closed up 1.3 per cent or S$0.15 at S$12.15 on Tuesday after the announcement.

CNMC Goldmine Holdings 5TP : The gold producer said on Tuesday in a regulatory filing that its subsidiary, CMNM Mining Group, has gained approval from the relevant authorities in Malaysia to resume mining operations at its flagship Sokor gold mine in Kelantan. This follows the Malaysian federal government's easing of Covid-19 restrictions in Kelantan and four other states from July 5. Shares of CNMC closed at S$0.21, up 5 per cent or S$0.01 on Tuesday.

mm2 Asia 1B0 : The entertainment group's independent auditor noted in a regulatory filing on Tuesday night that in view of the group's latest financial year's net loss and liabilities exceeding assets, these conditions "indicate that a material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concern". mm2 Asia advised shareholders to read the audited financial statements in its annual report, which will be available before July 15 on its website and SGXNet. Shares of mm2 Asia rose 2.5 per cent or 0.2 Singapore cent to close at 8.1 cents on Tuesday.

Trading halt: KTL Global on Wednesday morning requested a trading halt, pending the release of an announcement. The counter closed at 10.9 Singapore cents on Tuesday, down 0.6 cent or 5.2 per cent.