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Stocks to watch: Keppel, Boustead, Tat Hong
KEPPEL Offshore & Marine (Keppel O&M) has secured contracts from repeat customers worth a total of S$153 million. The deals were secured through Keppel O&M's wholly owned subsidiaries Keppel Shipyard and Keppel Nantong Shipyard. Keppel O&M is wholly owned by Keppel Corporation. The contracts are not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corp for the current financial year.
Boustead Singapore's subsidiary, industrial real estate solutions provider Boustead Projects, has been awarded a contract in excess of S$20 million to design and build the Airbus Asia Training Centre (AATC) for Airbus Asia Training Centre Pte Ltd (a wholly-owned subsidiary of Airbus) to be located at the Seletar Aerospace Park. The latest contract will raise the Boustead Group's order book backlog (as at the end of June plus new orders since) to over S$315 million.
Crane operator Tat Hong Holdings is exploring a possible spin-off of at least part of its tower crane rental business in China through a listing. This would provide access to additional funding to capitalise on growth opportunities in this area of business in China and increase the overall financial strength of the group, it said.