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Stocks to watch: Sim Lian, EMS Energy, Otto Marine, New Silkroutes
SIM Lian: A consortium led by the founder of Sim Lian Group is seeking to take the property developer private. In a release to Singapore Exchange on Monday night, Coronation 3G said it is making a voluntary conditional cash offer of S$1.08 per share for all the outstanding shares in Sim Lian that it doesn't already own or has agreed to acquire. The counter resumes trading on Wednesday after having lifted its trading halt.
EMS Energy: The engineering firm which serves the marine oil and gas industries on Wednesday posted a net loss of S$2.9 million for the first six months ended June 30, 2016. This was a reversal from a net profit of S$1.2 million a year ago. Revenue also saw a huge 64.5 per cent drop to S$16 million.
Otto Marine: Offshore marine group Otto Marine said on Wednesday its subsidiaries Swordfish 5 and GO Offshore have each begun arbitration proceedings under the London Maritime Arbitrators Association Terms 2012 against Vettal Mega Services.
New Silkroutes Group: The company said on Wednesday it has formed a joint venture (JV) with the owners of London-based consulting firm Rubeus to provide solutions for risk and security-related matters in Asia. It believes this JV is complementary to its oil and gas business.