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Stocks to watch: SembMarine, Marco Polo, Parkway Life Reit, Soilbuild
THE following stocks had announcements or developments that could affect trading activity on Tuesday.
Sembcorp Marine, Marco Polo Marine: Sembcorp Marine (SembMarine) says it will pursue its claim against Marco Polo Marine - either by continuing the action in the Singapore High Court, or at arbitration proceedings. This comes after the High Court had on April 22 granted Marco Polo Marine's application for a stay of the entirety of the court proceedings instituted by Sembcorp subsidiary PPL Shipyard (PPLS), in favour of arbitration.
Parkway Life Reit: Parkway Life Reit's distribution per unit (DPU) for the first quarter ended March 31, 2016, fell 7 per cent to 2.99 Singapore cents, from 3.21 Singapore cents the same period a year ago. This was due to the absence of one-off distribution of divestment gain that was recorded for the corresponding period a year ago, the healthcare Reit said. Net property income, however, rose 8.5 per cent from the year-ago quarter to S$25.14 million.
Soilbuild Construction Group: A Soilbuild Construction Group unit has won a construction contract worth US$95 million from a developer in Myanmar. The contract is for the construction and completion of the main building and superstructure works for a proposed "26½-storey serviced apartment and the proposed 26½ storey condominium" at Kabaraye Pagoda Road, Bahan Township, Yangon.