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Stocks to watch: CapitaLand, CDL, Stratech, GRP, Keong Hong, Mencast, 8Telecom 


[SINGAPORE] The following companies saw new developments which may affect trading of their shares on Friday:

CapitaLand and City Developments Ltd (CDL): A CapitaLand and CDL joint venture has clinched a commercial and residential site in Sengkang Central. Their winning bid of S$777.78 million works out to S$923.59 per square foot per plot ratio (psf ppr) for the 99-year leasehold site next to Buangkok MRT Station.

The Stratech Group: The husband-and-wife team that controls the surveillance tech firm will convert about S$15.4 million of current and future loans owed to them by Stratech into 233.4 million new Stratech shares at 6.6 Singapore cents per share. This is a larger amount than previously announced and will enable executive chairman David Chew and executive director and chief corporate officer Leong Sook Ching to retain their 34 per cent stake in Stratech even after a proposed US$20 million placement by private equity firm Boulevard Capital Partners.

GRP Ltd: The industrial product supplier reported a net profit of S$0.87 million for the full year ended June 30, compared with a net loss of S$9.8 million in the previous year.

Keong Hong Holdings: The construction and property company's subsidiary, K H Land, was awarded a S$53.8 million contract for a residential project in MacPherson's Mattar Road, which is being developed by a consortium which includes Keong Hong.

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Mencast: Mencast unit, Mencast Subsea, has secured a service contract from a repeat customer for the provision of general underwater services. The contract value was not disclosed but the contract is for a period of two years with an option to extend for a further one year period.

8Telecom International: The company has entered into agreements to place out 5.44 million new shares at S$0.1674 each

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