Stocks to watch: Alliance Mineral Assets, CapitaLand, Boustead Singapore, Gaylin

The following companies made announcements after the market closed on Tuesday, which could affect trading of their shares on Wednesday.

Alliance Mineral Assets Limited (AMAL): The Australian mining company has terminated the services of its chief executive Tjandra Adi Pramoko and his wife Simone Suen Sze Man, who serves as an executive director of the company, saying it has "lost confidence" in the abilities of both persons in continuing their duties. AMAL said it has given notices of termination to both Mr Tjandra and Ms Suen, and that both are currently on gardening leave; it clarified that their termination is "not due to any fraud or misconduct on (their) part". Both Mr Tjandra and Ms Suen reserve the right to challenge this decision to terminate their services.

CapitaLand Limited: CapitaLand has sold off land in India that it owned through a subsidiary for 28.5 million rupees (S$10.8 million) to third parties. It divested 100 per cent of its equity interest, which comprised its 5.32 million shares of 10 rupees apiece in Indian company Citadines Ahmedabad Aparthotel, which owns a land parcel located in Ahmedabad. Separately, CapitaLand said it had increased its shareholding in a subsidiary, Rattha Somerset Greenways Chennai (RSGC), in which it holds a 51 per cent stake through its wholly owned subsidiary, Ascott International Management (AIM). RSGC, which owns a serviced residence property known as Somerset Greenways Chennai, allotted an additional 61,649 new equity shares of par value 10 rupees per share at an issue price of 600.80 rupees per share to AIM and another existing shareholder of RSGC, for a total of around 37.03 rupees million. CapitaLand's holdings in RSGC has increased to 1.9 million shares but in percentage terms, remains unchanged at 51 per cent.

Boustead Singapore: Substantial shareholder and former deputy chairman of Boustead Singapore, Saiman Ernawan, has sold off his entire stake in the company. Mr Ernawan had on March 9 sold shares worth some S$15.52 million via both market and off-market transactions, reducing his interest in the company from 9.46 per cent, to 5.57 per cent. This was followed by a share disposal on March 12, where his remaining shares were sold for S$22 million. In both transactions, the sale price amounted to about 76 Singapore cents per share.

Gaylin Holdings: The offshore and marine services firm has completed a US$100 million investment and debt restructuring organised by Asian private equity fund manager ShawKwei & Partners. ShawKwei has purchased US$52 million worth of new Gaylin shares and holds a 76 per cent stake in the company. The 1.36 billion new ordinary shares in Gaylin were bought at five Singapore cents apiece. Together with the new equity investment, Gaylin restructured bank debt facilities totalling US$48 million by extending repayment dates and adjusting covenants.