Stocks to watch: Cosco Shipping, Lian Beng, EC World Reit

THE following companies saw new developments that may affect trading of their securities on Wednesday (Mar 8):

Cosco Shipping International : The mainboard-listed group has formed a 49:51 joint venture (JV) with its associate, Supply Fortune, to invest in logistics infrastructure assets. Cosco on Tuesday said the JV will create a digital supply chain investment platform, while allowing the group to further develop the supply chain market in South-east Asia. The counter closed S$0.002 or 1.2 per cent higher at S$0.17, before the news.

Lian Beng Group : Its unit has secured a new construction project, bumping up the group’s construction order book in Singapore to some S$2.1 billion. This will provide a “sustainable flow of activity” through FY2027, said the construction and property development company on Tuesday. Prior to the announcement, shares of Lian Beng ended flat at S$0.53.  EC World Real Estate Investment Trust (EC World Reit): A portion of deposits made by the Reit sponsor into escrow accounts have been released and utilised to partially repay outstanding loans. Its manager on Wednesday said this will enable the Reit to save on interest payments which would have been incurred otherwise. Units of the Reit closed S$0.01 or 3 per cent higher at S$0.34 on Tuesday.