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Stocks to watch: Keppel, KrisEnergy, Super, CWT, BreadTalk, CAO (Singapore)
THE following companies made announcements after Wednesday's market close that could affect their shares trading on Thursday:
Keppel Corporation is planning to raise its stake in KrisEnergy to as high as 67.33 per cent through a preferential share offering, as it transfers its shares in the upstream oil and gas player from wholly owned indirect subsidiary Devan International to Keppel Oil and Gas (KOG).
Krisenergy fell into the red for the third quarter, posting a net loss of US$31.6 million despite revenue rising by almost four times to US$12.7 million. It is proposing to undertake a preferential offering of up to S$140 million senior secured zero coupon notes due 2024 with up to 1.25 billion free detachable warrants.
Dutch coffee and tea firm Jacobs Douwe Egberts (JDE) is planning to acquire Super Group in a deal valuing Super at S$1.45 billion, with the aim of delisting and privatising the firm.
Logistics provider CWT saw a 17 per cent year-on-year drop in net profit for the third quarter to S$22.63 million on the back of a 11 per cent slide in revenue to S$2.34 billion due to lower commodity trading value - notably in naphtha - and a general drop in commodity prices, arising from the global downturn in the commodity sector.
Breadtalk Group posted earnings for the third quarter that doubled from the same period a year ago, lifted by share of results from associates and joint ventures. Net profit for Q3 2016 rose to S$3.3 million, from S$1.6 million in Q3 2015. Revenue dipped 2.7 per cent to S$157.3 million in Q3 2016, dragged down by weaker performance in the food atrium business.
China Aviation Oil (Singapore) reported a 31 per cent jump in net profit for the third quarter to US$23.2 million as revenue shot up 64.2 per cent to US$3.94 billion.
China Jinjiang Environment Holding Co reported a near-70 per cent year-on-year jump in net profit to 138.18 million yuan (S$28.27 million) for the third quarter, as revenue grew 61 per cent higher at 596.3 million yuan, thanks partly to higher contributions from its waste-to-energy business.