Stocks to watch: Keppel Corp, Sembmarine, Great Eastern, FEHT, Oxley

THE following companies saw new developments that may affect trading of their securities on Thursday (Apr 28):

Keppel Corporation , Sembcorp Marine : On Wednesday morning, Keppel and Sembmarine announced details of a definitive agreement on the landmark transaction merely days before the end-April deadline. The proposed combination will be dual-pronged and will be carried out via separate schemes of arrangement by the respective entities, which will result in both Sembmarine and Keppel O&M becoming wholly-owned subsidiaries of the combined entity. Keppel Corp closed 0.5 per cent or S$0.03 lower at S$6.66 on Tuesday, while Sembmarine closed 7.4 per cent or S$0.009 higher at S$0.131. Trading halts for both counters were called on Wednesday morning, but were lifted by the evening.

Great Eastern Holdings : The insurance arm of OCBC on Thursday said its profit attributable to shareholders fell 50 per cent on year to S$220 million for its first quarter ended Mar 31, 2022, due to a lower valuation of investments arising from less favourable financial market conditions. Shares of Great Eastern closed S$0.23 or 1.1 per cent lower at S$20.50 on Wednesday.