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Stocks to watch: SGX, Ezra, Vallianz, Sembcorp Industries, Keppel Land
THE following stocks may be in active play on Thursday:
SINGAPORE Exchange (SGX) on Wednesday said that it is not currently in the process of establishing a stock trading link similar to the Shanghai-Hong Kong Stock Connect.This was in response to a query on the same day from its regulator, the Monetary Authority of Singapore (MAS), following news reports citing market rumours about a potential stock trading link with China as a possible reason behind the recent price surge of the SGX stock.
EZRA Holdings, which provides offshore services to the oil-and-gas industry, on Thursday said it has won US$55 million worth of new contracts through its subsea services division.
OFFSHORE support vessel owner Vallianz Holdings is in talks to secure "a few" more contracts that could be worth more than US$100 million each from its main customer, it said on Wednesday.
SEMBCORP Industries is expanding its renewable energy business in China through the development of a 150-megawatt (MW) wind farm in Huanghua, Hebei Province, the group announced on Wednesday. The 1.3 billion yuan (S$0.3 billion) farm in Laoshibeihe has received approval from the Hebei Development and Reform Commission and will commence construction this year.
On Thursday it said it has completed the sale of all of Sembcorp Bournemouth Water Investment that translated into cash proceeds of £104.5 million (S$214 million).
KEPPEL Land posted on Wednesday a 17.2 per cent year-on-year fall to S$72.6 million in first-quarter net profit as it clocked in lower property sales and stopped recognising contributions from Equity Plaza and Marina Bay Financial Centre (MBFC) Tower 3 following their divestments last year.
RAMBA Energy on Thursday said arbitration proceedings in Singapore against its unit, PT Hexindo Gemilang Jaya, have been initiated by a former joint venture partner Super Power Enterprises Group (SPE) over a project in Lemang, Indonesia. "The board sees no merit in SPE's claims and Hexindo will vigorously defend its rights against SPE in the latter's claim against the forfeiture of the Lemang interest," Ramba said.
HEETON Holdings is again looking for a buyer to pick up all 30 units in its iLiv@Grange project, a 16-storey building with a curvaceous facade that received Temporary Occupation Permit (TOP) in October 2013. The group said that it has appointed Cushman & Wakefield as the exclusive marketing agent for the proposed en bloc disposal of the development.