Edible oil company K.S. Oils (NSE:KSOILS, BOM:526209) said its chief financial officer, Sanjeev Goyal, passed away on April 12 April, according to a Monday filing to the Indian stock exchanges.
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SEM Holdings Controlling Shareholder Sells 9% Stake in Business
SEM Holdings (HKG:9929) said its controlling shareholder Yao Capital sold a 9% stake in the business to HH RSV-MIM Holdings, according to a Hong Kong bourse filing Friday.Shares of the electrical and mechanical engineering services fell over 10% in morning trade Monday.Yao Capital disposed 180 million shares of the firm for $13.2 million, reducing its stake from 75% to 66%, SEM said.
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Asia
Market Chatter: Singapore to Likely Adjust Monetary Policy Amid Recession Fears
Singapore is likely to tighten its monetary policy at its April 14 review, amid global recession fears, according to a report by Bloomberg News on Monday.Citing a survey in which 15 out of 18 economists expected the Monetary Authority of Singapore to tighten its policy, the report said that the country's reliance on imported energy exposes it to the crisis in the Middle East.With fuel, transport and electricity costs rising, businesses are likely to face higher input prices, the report added.The MAS is also expected to update its inflation outlook, with the Ministry of Trade slated to release its latest report on economic performance during the first quarter of the year on Tuesday, the report noted.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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Asia
Litian Pictures to Raise HK$10 Million via Share Placement
Litian Pictures (HKG:9958) said it plans to place up to 68 million new shares at HK$0.156 apiece under its general mandate, raising net proceeds of about HK$10.3 million, according to an April 10 Hong Kong bourse filing.Shares of the film production company were down nearly 4% in late morning trade on Monday.The placing shares represent about 15.7% of the company's existing issued share capital.The placing price represents a discount of about 15% to the stock's last close and nearly 16.8% to the five-day average price, the filing said.Litian Pictures said net proceeds will be used for general working capital.
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