I'm LongbridgeAI, I can summarize articles.Keppel has terminated its proposed divestment of M1 due to the cessation of the sale agreement with Simba Telecom. Nio reported a narrowed net loss of 332.1 million yuan for Q1, with revenue increasing by 112.2% year-on-year. Keppel's shares closed up 1% at S$10.42, while Nio's shares fell 1.1% to US$5.61.
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (May 22):
Keppel : The group on Friday announced the termination of its proposed divestment of M1, as the sale and purchase agreement to divest M1 to Simba Telecom has terminated and ceased to have effect. This follows a Monday announcement by the Infocomm Media Development Authority that it has halted its assessment of the proposed M1-Simba consolidation until further notice. The counter closed on Thursday 1 per cent or S$0.10 higher at S$10.42.
Nio : The electric vehicle maker reported on Thursday a net loss of 332.1 million yuan (S$62.5 million) for its first quarter ended Mar 31, narrowing from a net loss of about 6.8 billion yuan a year earlier. Revenue stood at 25.5 billion yuan, an increase of 112.2 per cent on the year from 12 billion yuan. Shares of Nio on the Singapore Exchange closed US$0.06 or 1.1 per cent lower at US$5.61, before the announcement.