Stocks to watch: Seatrium, Toku, AA Reit, HRnetGroup, Info-Tech Systems

[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Jan 22):

Seatrium : Its wholly owned subsidiary Seatrium New Energy and Norwegian energy services provider Aibel have filed arbitration proceedings in relation to a consortium agreement they inked in May 2019. The parties are disputing the distribution of revenue and costs incurred in relation to the scope of a project under the consortium. The project is to design and build a 900 megawatt offshore converter platform for end-customer TenneT Offshore. Seatrium said that it is currently “unable to definitively ascertain” the financial impact arising from the proceedings, if any. The counter ended Wednesday 0.5 per cent or S$0.01 higher at S$2.13 before the news.

Toku: The customer experience platform made its trading debut on the Catalist board on Thursday, making it the first listing on Catalist board for the year, and the Singapore Exchange’s second listing of the year. It had offered 63 million placement shares and two million public offer shares, which gave it a market capitalisation of about S$142.6 million.