6 stories mentioning SGX:AWG
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Ascent Bridge (SGX:AWG) completed the disposal of its subsidiary, MTBL Cultural Centre, according to a Saturday filing with the Singapore Exchange.Shares of the beverage company surged over 21% in Monday trading.The liquor and beverage company had agreed to dispose of its stake in the subsidiary to Nyonya Heritage for SG$59,533.
Singapore shares plunged nearly 1% at the close on Thursday as regional peace took a hit following exchange of fire between the US and Iran.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,978.80 and 5,035.58 throughout the day. It ended the session at 4,989.19, down 39.61 points or 0.8% compared to Tuesday's close.On the corporate front, shares of Ascent Bridge (SGX:AWG) zoomed over 50% at the close as it signed a cooperation framework agreement with Scinosen (Shenzhen) Gene Industry Development to establish a joint venture in Singapore.Koh Brothers Eco Engineering (SGX:5HV) shares surged nearly 22% at the close after it submitted an application to the SGX-ST to transfer to the main board.Meanwhile, shares of Valuetronics (SGX:BN2) rose nearly 13% at the close as its attributable profit to owners fell 70% during the fiscal second half ended March 31 to HK$24.1 million from HK$79.9 million a year earlier.
Ascent Bridge (SGX:AWG) signed a cooperation framework agreement with Scinosen (Shenzhen) Gene Industry Development to establish a joint venture in Singapore, according to a Thursday bourse filing.The joint venture will focus on building gene therapy treatment centers in Singapore and China, along with the sales and marketing of gene therapy drug Gendicine, a commercially approved recombinant human p53 gene therapy injection used in oncology treatmentsUnder the finalized equity allocation framework, Ascent Bridge will maintain controlling interest with a stake capped at 70.1%, while Scinosen will retain an equity slice of no less than 19.9%.Following its establishment, the joint venture will pay Scinosen 20 million yuan in cash as upfront payment. A secondary tranche of 30 million yuan will be disbursed upon securing final product and facility clearances from relevant state medical authorities.Additionally, the joint venture will pay Scinosen an amount of up to 1 billion yuan as part of sales milestone payments based on the actual net sales of Gendicine.The new venture is part of the company's strategy to expand within the gene therapy and precision medicine sectors.Shares of the company surged nearly 48% in Thursday afternoon trading.
Ascent Bridge (SGX:AWG) is expecting to book a net loss for the fiscal year ended March 31, according to a Thursday filing with the Singapore Exchange.Shares of the global beverage alcohol distributor were down over 1% in Friday trading.The company has attributed its net loss to decreased revenue due to reduced contributions from duty-free markets.
Singapore shares closed in the red zone on Friday, tracking larger regional losses, amid uncertainty over the timeline for the next round of U.S.-Iran diplomatic talks.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,987.85 and 5,016.20 throughout the day. It ended the session at 4,997.93, down 9.90 points or 0.2% compared to Thursday's close.Pakistan is continuing to push the peace talks, with the country's civil and military leadership visiting regional leadership to find a way forward to put an end to the Iran conflict.In economic news, Singapore's non-oil domestic exports jumped 15.3% year over year in March, following a 4% increase in the previous month, according to data released by Enterprise Singapore on Friday.On the corporate front, shares of Rex International (SGX:5WH) surged 28% at the close as its subsidiary, Lime Petroleum, will now look to satisfy its overdue cash call obligations through a new super senior bond issue.Ascent Bridge (SGX:AWG) zoomed over 18% as it completed the transfer of 30% of its shares in MTBL Cultural Centre to Nyonya Heritage.Meanwhile, MoneyMax Financial Services (SGX:5WJ) closed over 4% higher with the pawnbroker targeting to raise up to SG$44.3 million through the placement of 53 million shares at SG$0.835 each.
Ascent Bridge (SGX:AWG) completed the transfer of 30% of its shares in MTBL Cultural Centre to Nyonya Heritage, according to a Thursday filing with the Singapore Exchange.Shares of the liquor and beverage company surged over 18% in Friday trading.The partial disposal is part of MTBL Global's agreement with Nyonya Heritage to sell its shares in MTBL Cultural Centre to the latter for SG$59,533.Under the agreement, Nyonya will transfer its 30% of the sale shares back to MTBL Global if the full disposal is not concluded by May 31.