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Singapore Shares Close Higher on Monday; TLV Climbs 5% on Restructuring Plans

MT Newswires ·  {{timeTz}}

05:27 AM EDT, 09/27/2021 (MT Newswires) -- Singapore's Straits Times Index opened the week some 11 points higher and remained in positive territory throughout the day following a positive lead from Wall Street.

During the day, the benchmark index ranged between 3,069.32 and 3,106.55 and ended 1.3%, or 39.97 points, higher at 3,101.32.

In corporate news, TLV Holdings' (SGX:42L) shares climbed nearly 5% at market close as the jewelry retailer disclosed that it was planning to diversify its existing core business activities and venture into money lending. The company also proposed to change its name to Taka Jewellery Holdings to better represent the group's corporate identity and business strategy

Shares of First REIT (SGX:AW9U) closed 4% higher on Monday as the trust passed on the chance to acquire a hospital building in Indonesia pursuant to a right of first refusal deed between its trustee Perpetual (Asia) and PT Lippo Karawaci (IDX:LPKR) dated Oct. 26, 2018.

Southern Alliance Mining (SGX:QNS) slipped 3% on Monday's close, even as the iron ore company booked a higher after-tax profit of 96.7 million Malaysian ringgit ($23.1 million), or 0.1978 ringgit per share, in the fiscal second half, compared with 27.1 million ringgit, or 0.0558 ringgit per share, a year ago.

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