Stocks to watch: Far East Orchard, CSE Global, Addvalue Tech

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Friday (Sep 25):

Far East Orchard : The developer on Thursday said that Borough High Street Development, its UK joint venture, is set to buy a London property for £60 million (US$79.3 million). The site, known as King’s Place, will be developed into a 444-bed purpose built student accommodation and a separate eight-unit key worker accommodation block. Shares of Far East Orchard closed flat at S$1.06 on Thursday, before the news.

CSE Global : The systems integrator said on Thursday that it has secured two electrification contracts in the United States worth a combined US$150 million. Shares of CSE Global ended S$0.02 or 1.6 per cent higher at S$1.26 on Thursday, before the announcement.

Addvalue Tech : Shareholders of the satellite communications provider on Thursday have approved a proposed spinoff and Nasdaq listing of its wholly owned subsidiary Addvalue Solutions (AVS), as well as an associated proposed dilution of its shares. AVS deals with the group’s business and commercial activities involving the Inter-Satellite Data Relay System. Shares of Addvalue fell 2.6 per cent to close S$0.005 lower at S$0.185 on Thursday, before the news.