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Stocks to watch: Cosco, Interra Resources, Sinarmas Land
STOCKS that will come into focus in what is likely to be a quiet trading session on Tuesday amid a lack of local and foreign catalysts are:
Cosco Corp: Continued active trading of Cosco Corp shares is to be expected, after the stock tumbled to a multi-year low on Monday when it lifted a four-month trading suspension. It had warned on late Friday of significant net losses for its fourth quarter and full year ending Dec 31, 2015. Trading of the stock had been suspended since Aug 11 before the group disclosed a proposed restructuring of its parent company China Ocean Shipping (Group) Company that will see the latter merge with China Shipping Group Co (CSG).
Interra Resources: The petroleum exploration and production company is collaborating with Chinese multinational heavy equipment firm to invest in the oil and gas industry in South-east Asia. It announced on Monday that it has entered into a memorandum of understanding with Sany Heavy Industry's wholly owned unit Sany South East Asia. Both plan to invest and develop companies and assets related to the oil and gas industry in South-east Asia.
Sinarmas Land: The Indonesian developer has unveiled development plans for a Batam integrated development, where it plans to invest at least four trillion rupiah over five years. The project Nuvasa Bay is slated to be marketed in the third or fourth quarter of next year. The 228ha project will consist of a high-end residential development, a 1.2ha man-made lagoon, senior living apartments, serviced apartments, commercial and retail outlets, an entertainment area as well as hotels and condotels.