Stocks to watch: Keppel, Sembcorp, AEM, Watches.com, Incredible Holdings

THE following companies saw new developments that may affect trading of their securities on Tuesday (Sep 6):  Keppel Corp : A unit of the mainboard-listed group, Keppel Land, will acquire from its joint venture partner a 4 per cent stake in Kingsdale Development, which owns 80 per cent of the Spring City Golf & Lake Resort in Kunming, China. Romeo, a unit of Keppel Land, will pay US$6 million for the stake, Keppel Corp said in a Monday board filing. Shares of Keppel closed at S$7.41 on Monday, up 0.1 per cent or S$0.01. Sembcorp Industries : Its wholly-owned subsidiary, Sembcorp Utilities, has agreed to sell its 100 per cent stake in its India-based coal power unit for 117 billion rupees (S$2.1 billion) to Tanweer Infrastructure, it said on Monday. The transaction will improve Sembcorp’s leverage ratios. For instance, on a pro forma basis, debt to Ebitda (earnings before interest, taxes, depreciation and amortisation) for H1 would fall to 4.9 times from 5 times. Shares of Sembcorp closed at S$3.33 on Monday, up 0.3 per cent or S$0.01. AEM Holdings: The semiconductor solutions provider disclosed on Monday that it suffered a recent IT breach that resulted in unauthorised access to its network. AEM has since contained the incident and prevented further unauthorised access, it said, adding that the business remains operational. Shares of AEM ended Monday at S$4.47, down 1.3 per cent or S$0.06.

Watches.com , Incredible Holdings : An investigation was launched last week at the premises of Hong Kong-based CKLY Trading which saw 500 watches collectively worth S$30,000 seized, announced both companies late on Monday. CKLY Trading is an indirect subsidiary of Watches.com and an indirect associate of Incredible Holdings. The 2 Catalist-listed counters were unchanged at S$0.016 and S$0.002 respectively before they each called for a trading halt on Sep 2. Their shares resume trading on Tuesday.