THE following companies saw new developments that may affect trading of their securities on Tuesday (Mar 4).
Yangzijiang Shipbuilding: Customers who initiated arbitration proceedings against three of its units over alleged contractual breaches have been awarded a right to a refund of US$3.32 million in deposits. The proceedings, which were filed in 2022, relate to orders the customers placed for 10 vessels worth US$900 million. Shares of the group closed 1.7 per cent or S$0.04 higher at S$2.42 on Monday, before the announcement.
iFast: The digital banking and investment platform appointed Vincent Tong as the chief executive officer of its Singapore business arm, iFast Financial, on Monday. He replaces Lim Chung Chun, who also holds the position of group CEO and chairman of iFast Corp. In a bourse filing on Monday, iFast said that Tong’s appointment has received regulatory approval. Shares of iFast closed Monday 0.9 per cent or S$0.08 down at S$8.52, before the announcement.
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