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Stocks to watch: ST Engineering, Midas, China Everbright Water, Raffles Education
THE following stocks may be in focus on Thursday:
ST Marine: The turnkey shipbuilding subsidiary of Singapore Technologies Engineering is well-placed to land the first newbuilding contract that the Singapore Civil Defence Force (SCDF) is set to award in 2016, just over four years after the SCDF assumed the fire-fighting function within Singapore's waters. The Business Times understands that ST Marine has emerged as the frontrunner in a tender for the construction of three new vessels to undertake marine fire-fighting and rescue operations in Singapore's maritime waters.
Midas Holdings: Its subsidiary, Jilin Midas Aluminium Industries Co, has landed two supply contracts worth 53.8 million yuan (S$10.9 million) from customers in China, the company said in a release to Singapore Exchange on Wednesday.
China Everbright Water: The integrated environmental water services firm has secured the first phase of a wastewater treatment project in Nanjing, China through a joint venture. The total investment of the phase is about 62 million yuan (S$12.6 million), the company said in a Singapore Exchange filing on Wednesday.
Raffles Education Corporation: A fall in revenue and share of results of joint ventures eroded earnings for the group in its 2016 financial year. Net profit fell 7 per cent to S$15.8 million from the year-ago period, the group said in a Singapore Exchange filing on Wednesday.