Stocks to watch: Keppel, Jardine C&C, Yoma, Memiontec
THE following companies saw new developments that may affect trading of their securities on Monday (Aug 19):
Keppel : The mainboard-listed company, with ACEN and GenZero, has signed a memorandum of understanding to explore the origination and utilisation of transition credits (TCs) to facilitate the earlier retirement of a coal-fired power plant in the Philippines. The parties said that when completed, the initiative is expected to be one of the first converted coal-fired plants in the world to generate TCs. Shares of Keppel ended on Friday up 0.9 per cent or S$0.05 at S$5.96.
Jardine C&C : The company has proposed to sell its entire 25.5 per cent stake, or 76.1 million shares, in Siam City Cement for 12.2 billion baht (S$458.7 million). The proposed sale is “consistent with Jardine C&C’s strategy to evolve its portfolio in line with its long-term growth and sustainability objectives”, said the automotive retailer. Shares of Jardine C&C closed 0.6 per cent or S$0.17 higher at S$26.57 on Friday, before the announcement.
Yoma Strategic : The Myanmar-focused group has made clarifications to an article published by news agency The Irrawaddy, which stated that the group’s former executive chairman, Serge Pun, allegedly used criminal proceeds from online scam centres to invest in the expansion of real estate project StarCity. On Sunday, Yoma said there are no investigations by the Myanmar authorities involving the group, its directors, employees or businesses. The counter closed 1 per cent or S$0.001 lower at S$0.101 on Friday.
Memiontec : The co-founders of the water treatment company – executive director and CEO Tay Kiat Seng and managing director Soelistyo Dewi Soegiharto – have been released on bail after being interviewed by the Commercial Affairs Department (CAD). The interview was part of the CAD’s investigations into a potential offence under Section 201 of the Securities and Futures Act, the company said on Monday. The counter was trading flat at S$0.071 as at 9.12 am on Monday.
