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Stocks to watch: Sembcorp Marine, Singapore eDevelopment, Natural Cool, Yangzijiang (Amended)
THE following stocks may be in focus on Monday:
Sembcorp Marine: The US District Court for the district of Columbia has ruled in favour of Sembcorp Marine and Jurong Shipyard in a lawsuit filed by EIG Management against Brazil's national oil company Petrobras.
Amendment note: In the latest version of the article, we have clarified that the investments were made by EIG Management.
Singapore eDevelopment: The group's audit report on its financial statements for the year ended Dec 31, 2016, by its independent auditor Ernst & Young LLP contained an emphasis of matter. The independent auditor drew attention to Note 2.1 in the financial statements which stated certain conditions which indicate a material uncertainty exists that may cast significant doubt on the group's ability to continue as a going concern.
Natural Cool: Natural Cool's independent auditor, KPMG, has issued its report for the group's financial statement for FY2016, which included an emphasis of matter in respect of the board's decision to form an internal investigation committee to review irregular transactions and activities of certain subsidiaries in the paint division as announced on Feb 28, 2017.
Yangzijiang Shipbuilding: The group announced on Monday that it has won 13 shipbuilding contracts worth US$318 million for the first quarter of 2017.