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Stocks to watch: Soilbuild, Loyz
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.