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.

Aims Apac Reit (AA Reit) : The trustee of AA Reit, HSBC Institutional Trust Services (Singapore), on Wednesday issued S$150 million of subordinated perpetual securities carrying a distribution rate of 4.1 per cent. The perps are expected to be listed on the Singapore Exchange at 9 am on Thursday. Units of AA Reit ended S$0.01 or 0.6 per cent lower at S$1.53 on Wednesday, before the announcement.

HRnetGroup : The staffing company’s HRtech brand, Octomate, has been awarded a project by Outward Bound Singapore to streamline its operations. In a separate statement, the company announced that Octomate was awarded a substantial contract by the Sentosa Development Corporation to streamline its human resources functions. Shares of HRnetGroup ended S$0.005 or 0.7 per cent higher at S$0.735 before the news.

Info-Tech Systems : The software provider said on Wednesday that it expects to report a “considerable increase” in its consolidated net profit for FY2025, compared with the full-year ended Dec 31, 2024. The forecast is mainly due to higher academy training revenue as a result of stronger demand, particularly in the second half of the year, alongside continued growth in the human resource management systems and accounting business. The counter ended Wednesday 0.7 per cent or S$0.005 down at S$0.735 before the news.