Stocks to watch: ST Engineering, Nio, Yangzijiang Shipbuilding, China Everbright Water
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[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (Apr 2):
ST Engineering : It announced on Wednesday that its marine business has secured a six-year subcontract valued at an estimated S$600 million from Abu Dhabi Ship Building (ADSB), a shipbuilder based in the United Arab Emirates. The contract is for the design and supply of platform systems for a fleet of eight missile gun boats that ADSB is constructing for the Kuwait Naval Force. Shares of ST Engineering closed at S$11.10 on Wednesday, up S$0.29 or 2.7 per cent.
Nio : The Chinese electric vehicle maker reported a 136 per cent year-on-year increase in March vehicle deliveries. The number of units shipped in the first quarter nearly doubled from the year before. Cumulative deliveries reached about 1.1 million units as at Mar 31. In Singapore, Nio rose 9.4 per cent to close US$0.52 higher at US$6.06 on Wednesday, before the news.
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