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Stocks to watch: EMAS Offshore, Chip Eng Seng, Mapletree Industrial Trust

Monday, March 6, 2017 - 08:25

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EMAS Offshore: EMAS on Monday requested a trading suspension "with immediate effect", according to its filing to the Singapore Exchange.

It had warned of plans to ask for a voluntary suspension of its shares over the weekend, following an announcement last Friday by the Oslo bourse, where the firm is also listed, that it has suffered the same fate in Norway.


Chip Eng Seng: Construction and property development group Chip Eng Seng sold 420 units - or more than half of the project - over the first weekend sales of Grandeur Park Residences in the heart of Tanah Merah.

The condominium project is undertaken by Chip Eng Seng's property development arm CEL Development. The weekend sale includes two commercial shops. The one-bedroom units were the most sought after.

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Mapletree Industrial Trust: MIT on Sunday announced that it will develop a build-to-suit (BTS) data centre for an established data centre operator at an estimated cost of S$60 million. The data centre development project, MIT's third such project, will be located in Singapore's West region.

The six-storey purpose-built data centre with a gross floor area of about 242,000 square feet will be fully leased to the client for an initial term of more than 10 years with staggered rental escalations and renewal options. The project is expected to be completed in the second half of 2018.

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