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Stocks to watch: OCBC, SembMarine, Marco Polo Marine, Croesus Retail Trust, Triyards
THE following stocks made announcements after the market closed on Wednesday, which could affect their trading on Thursday:
OCBC Bank: It has won in the race to buy Barclays Bank's private wealth and investment units in Hong Kong and Singapore. The bank's wholly owned private banking subsidiary, Bank of Singapore, is paying about US$320 million in cash for the business, set at 1.75 per cent of Barclays Wealth and Investment Management's assets under management in the two cities.
Sembcorp Marine, Marco Polo Marine: The legal spat between the two companies is now under arbitration, after efforts to resolve it through the senior management and mediation failed, SembMarine said in an update on Thursday morning.
Croesus Retail Trust: It is acquiring a prominent suburban mall in Japan's Hiroshima prefecture for 3.3 billion yen (S$40.5 million). Fuji Grand Natalie, located in a well-populated zone in Hatsukaichi City, has about 53 sub-tenants involved in fashion, goods, services, food and other sectors.
Triyards Holdings: The group's second-quarter profit grew 4 per cent to US$5.3 million, lifted by contributions from various vessels and industrial and offshore fabrication projects. The company also announced it has clinched US$17.8 million in new orders for three wind-farm support vessels and a luxury river cruise vessel.