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Stocks to watch: StarHub, Noble, Keppel Corp
THE following companies saw new developments that may affect trading of their shares on Monday:
StarHub: The telco and Singapore-based sustainable energy firm Sunseap announced early on Monday morning that they are tying up to offer customers a choice of two clean energy subscription plans starting next month. This comes as 14 retailers have been approved to take part in the pilot launch of the Open Electricity Market in Jurong, which allows households to choose whom they buy electricity from.
Noble Group: Noble announced on Friday evening that it will not be paying the principal and interest on its US$379 million bonds due on March 20, setting it on course for its first note default. This caps a closely-watched drama that began in 2015 when Iceberg Research started publishing critiques of Noble's accounting. The commodity trading group also said it will not be paying the coupon due on its 2020 notes that it has already missed.
Keppel Corp: The conglomerate on Sunday said that it has through Keppel Land's wholly owned subsidiary, Oil (Asia), acquired the remaining 10 per cent stake in Jencity, which holds Saigon Sports City, for about US$11.4 million. Following the acquisition, Keppel Land will hold a 100 per cent interest in Saigon Sports City, thus consolidating its full ownership of the township. Saigon Sports City is a 64 hectare township that Keppel Land is developing in the prime District 2 in Ho Chi Minh City, Vietnam, in collaboration with Keppel Urban Solutions.