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Stocks to watch: USP, Trendlines, EMS Energy, SingPost
THE following companies made announcements before the market opened on Monday that could affect the trading of their shares:
USP Group has announced that its subsidiary USP Industrial (USPI) will be appealing against a court's decision last Friday to allow a major shareholder to wind up SG Support Services Pte Ltd (SGSS).
Pending the outcome of the appeal, the group is making a provision on the investment and will update shareholders on the development.
USP Group, through USPI, owns 49 per cent of Singapore-based SGSS.
Trendlines Medical Singapore (TMS) will receive a grant of up to S$2.2 million under Spring Singapore's Incubator Development Programme.
The funds from the grant will support the operating activities of TMS, a subsidiary of the Trendlines Group, which was established to invest in, develop and nurture early-stage medical technology companies.
EMS Energy received termination notice from Jurong Shipyard on its S$1.1 million contract on Friday, and the shipyard also made claim, under a bank guarantee furnished by EMS Energy Solutions for the sum of S$110,000.
To date, the company said, EES has received S$330,000 in progressive milestone payment from Jurong Shipyard under the contract for the supply, supervision of installation, testing and commissioning of the anchor winch system package.
Analysts are also keeping an eye out on SingPost. With its eCommerce logistics collaboration with the Alibaba Group completed, its postal monopoly and turnaround in e-commerce earnings will be the catalyst as main drivers on earnings.