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Stocks to watch: STATS ChipPAC, CapitaLand, CapitaCommercial Trust, Mermaid Maritime, Hyflux, Albedo
STATS ChipPAC, as talks over the potential US$780 million sale of STATS ChipPAC to China's Jiangsu Changjiang Electronics Technology Co (JCET) have been extended for a second time. The new deadline is now Dec 31, 2014.
CapitaLand and CapitaCommercial Trust, on news that CapitaGreen has obtained its Temporary Occupation Permit (TOP) on Dec 18, and has secured leases for 50.4 per cent (352,800 square feet) of its net lettable area as at December. CapitaLand, CapitaCommercial Trust, and Mitsubishi Estate Asia are the joint venture partners for the development of CapitaGreen - a 40-storey Grade A office building in Singapore's central business district.
Mermaid Maritime, which has secured a US$50 million two-year contract for its dive support vessel, Mermaid Commander, to provide subsea construction support in the Gulf of Thailand.
Hyflux, which has won a bid to build a US$250 million water desalination project in Oman, together with local partner National Power and Water Co. The seawater reverse osmosis desalination plant will have a capacity of 200,000 cubic metres a day, and is expected to start commercial operations by May 2017 under a 20-year water purchase agreement with the government-owned Oman Power and Water Procurement Company (OPWP).
Albedo, which is selling its entire 70 per cent stake in Thai Tech Steel (2003) to Thoroughbred Holdings for a nominal consideration of S$1, following the full and final settlement of its obligations as a guarantor.