Revised MTP criteria, United Global, CapitaLand

SINGAPORE (Dec 5): Here are some factors and stocks that could move the market this Monday morning:

The Singapore Exchange is revising its minimum trading price (MTP) framework after a month-long consultation. The bourse operator has added a new $40 million market capitalisation requirement to the framework, and lowered the review frequency to twice a year from every quarter. Since Friday, stocks that have announced their removal from the MTP watchlist included Serial System, China New Town, Fuyu, Hiap Seng, CWG International, Vicplas International, CSC, Enviro-hub, Samko Timber, Sinostar PEC, China Auto Electronics, FSL Trust Management, and China Kangda Food. Meanwhile, Mun Siong, China Haida have announced their inclusion to the MTP watchlist while Swee Hong and FJ Benjamin have announced their inclusion in the Financial Entry watchlist.

Sincap Group is raising up to $26 million in a rights issue. The company which trades in alumina and thermal coal is selling 2.6 billion new shares at an issue price of 1 cent per share, on the basis of five rights shares for every one existing share held by shareholders.
The issue price represents a discount of about 60% to SinCap’s last traded price of 2.5 cents per share on Dec 2. Sincap has an issued share capital is 521 billion shares.
The company intends to use 60-70% of the net proceeds for business expansion.

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