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Stocks to watch: Pacific Andes, Yoma, KrisEnergy
THE following companies made announcements over the weekend that could affect their trading activity on Monday:
Industrial fishing firm Pacific Andes Resources Development has formed a committee to look into the circumstances that led its subsidiary, China Fishery Group, into provisional liquidation. The committee will engage an independent accounting firm to conduct a forensic review of the company's financial accounts.
Yoma Strategic Holdings has extended until 2048 the lease for its landmark hotel project at the former headquarters of the Myanmar Railway Company. With this, Yoma and Hongkong and Shanghai Hotels have also agreed to extend the long stop date under the existing shareholders agreement to June 30 this year.
Upstream oil and gas explorer KrisEnergy said it has more than doubled its average production rate from 2015 to reach group working interest production of 19,935 barrels of oil equivalent per day as at Jan 1, 2016. The group also reported an increase of its total working interest 2P reserves to 105 million barrels of oil equivalent as at Dec 31,2015, a growth of 48 per cent from end-2014.