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Stocks to watch: Soilbuild, Loyz

Wednesday, June 10, 2015 - 09:05
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It said on Tuesday that it has been awarded a contract worth US$50.4 million to design and build Rosehill Residences, a 24-storey, 176-unit condo along Kabar Aye Pagoda Road, near the city's Shwedagon Pagoda. The condo also has four levels of semi-basement. The project is scheduled to start in the third quarter of 2015, and will be completed in 40 months.

THE following stocks had announcements that could affect trading activity on Wednesday:

Loyz Energy has agreed to a reverse takeover deal that will give oil and gas company Primeline Energy Holdings listed status in Singapore.

Loyz on Tuesday announced that it would acquire Primeline for about S$197 million in shares and seek a transfer of its listing from Catalist to mainboard thereafter. Loyz will pay for the acquisition by issuing 1.79 billion new shares at S$0.11 apiece.

Soilbuild Construction Group is finally taking the plunge in Myanmar with its first full-fledged construction project to build a high-end luxury condominium in Yangon's city centre.

It said on Tuesday that it has been awarded a contract worth US$50.4 million to design and build Rosehill Residences, a 24-storey, 176-unit condo along Kabar Aye Pagoda Road, near the city's Shwedagon Pagoda. The condo also has four levels of semi-basement. The project is scheduled to start in the third quarter of 2015, and will be completed in 40 months.

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