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Stocks to watch: CDL, China Fishery, SembMarine, Marco Polo, IHH Healthcare, QT Vascular
City Developments: CDL is buying a landmark brewery site in southwest London for £158 million (S$334.96 million). The land parcel - located beside River Thames and 200 metres away from the rapid overland train link to central London's mainline station Waterloo - was occupied by Stag Brewery, which is owned by leading global brewer AB InBev which was closed only recently.
China Fishery Group: The industrial fishing group has found itself sinking in quicksand after a missed instalment on a club loan facility triggered a series of events. It failed to repay a US$31 million instalment on its US$650 million club loan facility due earlier this month. HSBC has therefore asked the Hong Kong High Court to wind up the group and appoint a liquidator.
Sembcorp Marine (SembMarine) and Marco Polo Marine: The Business Times on Friday reported that both parties could be in for a protracted tussle over a US$214.3 million rig construction contract, which could result in the first cancellation of a jack-up rig building order commissioned to a Singapore-based rig builder during the last rig-building upcycle.
SembMarine's PPL Shipyard is resisting a unilateral contract termination by a unit of Marco Polo Marine. The jack-up rig contract at the heart of this spat between the two parties was announced in February 2014, towards the tail-end of the rig-building uptick that spanned from the second half of 2010.
IHH Healthcare Berhad: The healthcare giant has posted a 19 per cent year-on-year fall in net profit for the third quarter ended Sept 30 to RM118.5 million (S$39.5 million), dragged by unrealised foreign exchange losses of RM217.1 million.
Revenue rose 16 per cent to RM2.06 billion, driven by continued organic growth at existing hospitals and ramp up of its three newer hospitals - Acibadem Atakent Hospital in Turkey, Pantai Hospital Manjung and Gleneagles Kota Kinabalu in Malaysia.
QT Vascular: A three-judge panel of the Federal Circuit in the US Court of Appeals has unanimously granted a motion to stay the enforcement of the trial court's judgement, pending an appeal by QT Vascular and its CEO Eitan Konstantino.
A California judge in July had awarded US$20.4 million to AngioScore against Dr Konstantino, QT, and related units Quattro Vascular and TriReme Medical.
As a result of this order, AngioScore is not permitted to seek enforcement of the trial court's judgement while the appeal is pending.