Stocks to watch: KTL Global, Noble
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THE following companies made announcements on Thursday evening that may affect trading of their shares on Friday:
Oil and gas firm KTL Global is buying a 20 per cent stake in Korean rigging equipment firm Dae Kwang for US$5 million in a bid to move into the Korean offshore and marine industry more quickly. It will leverage on Dae Kwang's network to provide higher-margin heavy lift slings and managed services, KTL Global said on Thursday evening.
Investment funds have bought more of Noble Group after the stock fell to a six-year low. The counter closed lower for a fourth straight day at S$0.695 on Thursday, despite its founder and executive chairman Richard Elman having bought marginally more of the company over four separate occasions in the past week.
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