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Stocks to watch: Geo Energy Resources, ST Engineering, Penguin, Ezra
SHARES of the following companies may be affected by recent events or announcements:
Coal mining group Geo Energy Resources has agreed to supply global commodities group Engelhart CTP (Singapore) with at least seven million tonnes of coal next year under an earlier-agreed offtake agreement.
ST Engineering's yard operating unit, ST Marine, has, in a joint bid with Penguin International, won the first shipbuilding contract awarded by the Singapore Civil Defence Force for three rescue vessels.
Ezra Holdings and other small to mid-cap offshore and marine counters face increasing cashflow pressure threatening their ability to service debts and interest obligations. Contracting activity has yet to rebound from multi-year lows, even as the recent oil price hikes buoyed hopes of the O&M sector starting a journey to recovery.